Bell & Grant Insurance of Halifax and subsidiary Assurance Goguen Champlain Insurance have reached an agreement to merge their operations with Fraser & Hoyt Insurance (2011) of New Glasgow to create a major Commercial Insurance brokerage in Atlantic Canada.

Following the completion of merger on 1 January 2014, all the three commercial brokerages will continue to operate under their own names, although staff at the Fraser & Hoyt office in Halifax will relocate to a Bell & Grant office.

Bell & Grant president and CEO Phil Gaunce said: "Combined, we will enjoy greater access to insurance markets, a greater depth of expertise across a variety of markets and sectors and the ability to serve our clients in both official languages. All of this results in better service and better solutions for our customers."

Fraser & Hoyt president and CEO Bill Fraser said that in addition to being great news for their clients, this also presents exciting opportunities for the staff.

"Not only will our employees have the benefit and security of being part of the leading Commercial Insurance brokerage in the region, the larger organization will also provide increased opportunities for growth and advancement," he concluded.

Fraser will become deputy chairman of the board of directors of the amalgamated group, which will have 90 employees, Herald Business reported.