Alliant Insurance Services has acquired One Source Risk Management Canada, an insurance brokerage firm specialising in credit and political risk insurance in North America.
The terms of the agreement were not disclosed.
One Source provides clients with catastrophic loss protection without increasing credit exposures.
George Babeu, president at One Source, said: "Having Alliant as our parent will help us continue to expand our footprint throughout North America and dramatically broaden our product offerings and value to our clients."
Peter Arkley, president at Alliant Specialty, added: “The need for credit and political risk offerings throughout North America will continue to grow as we enter 2021, and Alliant is well positioned to meet the demand.”
Tom Corbett, Alliant’s chairman and chief executive, said the expansion of Alliant’s business into Canada realised a long-term goal for the business.
Alliant Insurance Services, Once Source Risk Management, George Babeu, Peter Arkley, Tom Corbett