Westland Insurance Group has entered into an agreement to acquire Peninsula & Bay Lands, a Canada-based independent insurance agency with two locations on the west coast of Vancouver Island in the towns of Ucluelet and Tofino.

The transaction is part of Westland’s acquisition strategy of insurance agencies through out British Columbia and follows the acquisition of Port Alberni-based Thunderbird Insurance Services. However, the terms of the tranaction were not disclosed.

Founded in 1980 by Rick Turner, Peninsula & Bay Lands operates the insurance offices in Ucluelet and Tofino. The services offered by the firm are residential insurance, automobile insurance and commercial insurance. Additionally, each location offers driver services products and is an appointed ICBC driver licensing centre.

Jason Wubs, president and CEO of Westland Insurance, said: I’m pleased to welcome the employees of Peninsula & Bay Lands to our company. We are very excited about this venture and the opportunities it brings us in being able to provide insurance services to the West Coast of Vancouver Island.

The acquisition is scheduled to be completed on May 31, 2010.