Southampton Financial Acquisition of Onlia Insurance.
Southampton Financial Inc. (“SHFI”) is very pleased to announce the completion of its acquisition of Onlia Insurance, a leading digital insurance intermediary based in Ontario, Canada. The strategic move marks a significant step forward in SHFI’s commitment to build a major Canadian integrated online insurance platform. SHFI’s mission is to redefine and significantly enhance the digital insurance experience for all Canadians.
Since its inception in 2018, Onlia has challenged traditional insurance with its new digital platform, providing customers a way to seamlessly buy and manage their insurance online. With this acquisition SHFI adds Onlia to its platform companies, which also includes Alteri Insurance and aha Insurance, acquired in October and December 2023, respectively.
“We are very happy to bring Onlia into our portfolio of companies and look forward to driving further innovation and accelerating growth in combination with other companies within the SHFI group. We intend to offer consumers a broad suite of products from our aha and Onlia brands.”
“We are also pleased to announce that Shahzad Hafeez, CPA, CGA has been appointed as the President and CEO of SHFI. Mr. Hafeez was previously the Head of Corporate Development for a major Canadian insurer. He has a broad and extensive knowledge in the P&C distribution space including mergers andacquisitions. We look forward to work closely with Shaz as well as the senior management team.”
SHFI is committed to building the “Insurance broker of the future” using the proprietary integrated technology platform developed by aha in all of its subsidiaries. SHFI will provide capital, strategic direction, access to new markets and back-end support services to its portfolio companies. SHFI’s shareholders include a broad network of insurance industry veterans, having extensive experience with insurance companies, MGAs and insurance brokers.
