Algoma Financial Group Amalgamates with Insurance Depot


Effective January 1, 2016, Algoma Financial Group officially completed the amalgamation of Insurance Depot Inc. into Algoma Insurance Brokers Limited. As a result, all Insurance Depot clients are now represented by Algoma Insurance Brokers Limited.

“Algoma Financial Group is proudly celebrating our 75th anniversary in 2016, and we think that having the Insurance Depot join our team is a great way to start the year,” said James Horbatuk, president, Algoma Financial Group. “The amalgamation will allow us to offer our clients more competitive insurance solutions, advice and a high standard of customer service, while maximizing synergies.”

Previously served by the Insurance Depot, Algoma Financial Group will now offer insurance discounts to the following groups who will also have access to the full suite of Algoma Financial Group’s products:

  • United Steelworkers
  • SOAR Chapter 7 & 17
  • City of Sault Ste. Marie
  • Local 1009
  • Public Utilities Commission
  • Group Health Centre
  • United Food & Commercial Workers (UFCW)

“It’s also important to note that while we welcome Insurance Depot clients, we are also excited that Insurance Depot employees have become members of the Algoma Financial Group family,” said Horbatuk.

Algoma Financial Group has been serving Sault Ste. Marie and surrounding areas since 1941. The company has 3 offices and 55 employees.

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