TORONTO (September 5, 2018) – Kanetix Ltd., Canada’s largest digital customer acquisition platform for insurance and financial products, is pleased to share that it has been acquired by the Ontario Teachers’ Pension Plan (Ontario Teachers’), effective August 31, 2018. Financial terms were not disclosed.
Ontario Teachers’ private capital group has a long track record of investing in the financial services and technology industries. Kanetix Ltd. has been a leader in providing millions of Canadians with online insurance quotes since its launch in 1999 and has built successful partnerships with Canada’s leading insurance companies.
As part of the acquisition, Igal Mayer is the new Chief Executive Officer of Kanetix Ltd. Mr. Mayer is the founder of Shop Insurance Canada as well as the former CEO of Aviva Canada, Aviva UK and Aviva Europe.
“As best in class, Kanetix is at the forefront of driving how Canadians buy insurance and financial products digitally. With the backing of Ontario Teachers’, one of country’s largest institutional investors, I see huge opportunities ahead,” said Mr. Mayer. “I look forward to working with the team at Kanetix and building on the company’s growth.”
The Ontario Teachers’ news release concerning the Kanetix Ltd. acquisition can be accessed here.
About Ontario Teachers’
The Ontario Teachers’ Pension Plan (Ontario Teachers’) is Canada’s largest single-profession pension plan, with $193.9 billion in net assets at June 30, 2018. It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an average annualized rate of return of 9.9% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region office is located in Hong Kong and its Europe, Middle East and Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario’s 323,000 active and retired teachers. For more information, visit otpp.com and follow us on Twitter @OtppInfo.
About Kanetix Ltd.
Kanetix Ltd. is Canada’s largest digital customer acquisition platform for insurance and financial services. With over 8 million users visiting their five consumer-facing brands yearly, Kanetix Ltd. works directly with the country’s top insurers, financial institutions and brokers. Kanetix Ltd.’s mission is to help every Canadian make better money decisions. For more information, visit Kanetixltd.ca and follow us on LinkedIn and Twitter @KanetixLtd.
On behalf of Kanetix Ltd. Media Relations Contact: