Effective July 1st, 2022, Kitsaki Management Limited Partnership (“Kitsaki”) has acquired 100% of the shares of LaRoche McDonald Agencies Limited (“LaRoche”), a general insurance and property management firm based in Saskatoon, Saskatchewan.
“At Kitsaki, we are focused on long-term, sustainable businesses,” says Ron Hyggen, Kitsaki CEO. “The pandemic further highlighted the importance of a diverse investment portfolio. While many industries struggled, we saw an opportunity to further expand into the insurance market. LaRoche has a century of experience, a dedicated team, and a strong track record of excellence.”
Based in Saskatoon, LaRoche first began operations in 1933. The firm provides residential, commercial, and auto insurance to a wide range of clientele. LaRoche also provides property management services for condo corporations, apartment buildings, and commercial properties across the city. At the time of acquisition, the company was owned by Jason Dunn and Keith Klassen. Both owners will stay on as managers to ensure “business as usual”, to facilitate growth, and to complete the transition of operations to Kitsaki. Jason and Keith had this to say: “We are excited to be part of the
Kitsaki family. Insurance and property management are relationship businesses that thrive by building client trust through dedicated and expert service. These ideals coincide with core Kitsaki operating principles, and that is what made joining the group so attractive to us.”
“Kitsaki has participated in this sector to some extent with First Nations Insurance Services since the late 1980s,” says Hyggen. “LaRoche provides a great opportunity to provide related services to a new book of clients and has potential for growth not just in Western Canada, but nationally. We look forward to working with Jason, Keith, and the rest of the LaRoche team.”