Feb. 25, 2025 — THREE Ontario mutual insurers from different regions of the province have announced they are planning to amalgamate.

Caradoc Townsend Mutual, Grenville Mutual and Lambton Mutual have signed a pre-amalgamation agreement to form a partnership that will enhance their services and preserve local ties.

A joint committee of board members, CEOs and advisers will be conducting due diligence.

The proposed amalgamation is subject to approval from each company’s policyholders and regulatory approval by the Financial Services Regulatory Authority of Ontario.

It also requires the consent of the companies’ partners: the Ontario Mutual Insurance Association, Farm Mutual Re and the trustees of the Fire Mutuals Guarantee Fund.

Caradoc Townsend was formed in 1879 by farmers in southern Ontario. It has offices in Waterford and Komoka.

Grenville was founded in 1892 in Spencerville in eastern Ontario and was originally known as Grenville Patron Mutual Fire Insurance.

The company moved to newly constructed facilities in Kemptville in 2013.

Lambton is based in Watford in western Ontario and is celebrating its 150th anniversary this year.

The companies’ combined insurance revenue in 2023 was almost $87m.

They said the amalgamation aims to secure long-term resilience and enhance adaptability in Ontario’s fast-evolving insurance sector.

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