Millennial Specialty Insurance enters Canadian market

MGA Millennial Specialty Insurance, an indirect subsidiary of BRP Group, is now offering multifamily-focused insurance solutions in Canada, including both its renters and tenant legal liability products, marking the first time MSI is writing business outside the US.

MSI is collaborating with British Columbia-based insurance broker to gain entry to the residential rental market in Canada.

“This is a significant milestone for MSI as we expand our operations internationally. With deep expertise in the residential rental market and a proven model in the United States, MSI is well positioned to meet the needs of the growing renters insurance market in Canada and provide useful solutions for consumers and property managers in this marketplace. The consolidation of rental property management and ownership in the Canadian market, coupled with a lack of robust renters insurance solutions, has led to increased demand for a solution like the one provided by MSI. Summit’s and MSI’s collaboration is the right approach to quickly provide and scale a solution to meet this consumer need in Canada.” – Adam Falkauff, President, Multifamily Group at MSI.

“We are excited for this opportunity with MSI. The demand for a more comprehensive, technology-focused, renters insurance solutions has become increasingly necessary in the Canadian residential rental market. We look forward to being at the forefront of this venture.” – Josh Pillsbury, Co-Founder and Managing Partner, Summit.