The Magnes Group

What The Magnes Group does

The Magnes Group is a Canadian insurance brokerage founded in 1933 and headquartered in Oakville, Canada, with 101–250 employees and an administrative office in Vancouver. The firm provides insurance brokerage and risk management advisory services across three principal lines: commercial insurance for businesses (spanning aerospace, construction, energy, international business, life sciences, mining, professional and financial services, technology, and transportation verticals), personal lines insurance for individuals and families (homeowner, condominium, tenant, automobile and motorcycle, and private aviation coverage), and benefits and wealth services (employee benefits, executive benefits, group retirement, deferred profit sharing plans, and life and disability insurance). Specialized transportation insurance is led nationally by Suzie Rae as Senior Vice President.

The firm's revenue model is commission-based: brokers place client risks with insurer partners and earn recurring commissions on the resulting premium flow. Distribution is executed through professional advisors and relationship managers via direct enterprise sales, supplemented by an online "Get a Quote" self-service portal and a secure client login portal. The go-to-market is sales-led and relationship-driven, with no disclosed proprietary technology platform, app, API, or AI/ML capabilities; the offering is a traditional, advisor-mediated insurance brokerage.

In June 2025, Axis Insurance — a Canadian brokerage tracing its legacy to 1928 with over 375 professionals — acquired The Magnes Group as part of its continued growth strategy. The Magnes Group now operates within Axis Insurance's national platform, retaining its client-facing team while gaining access to Axis's expanded insurer partner network, specialized industry practice groups, and broader geographic reach. Post-acquisition, The Magnes Group no longer operates as an independent legal entity.

Name

The Magnes Group

Website

https://magnesgroup.com

Company type

Private

Founded year

1933

Operating status

Acquired

Headcount range

101–250 employees

Short description

The Magnes Group is a Canadian insurance brokerage offering commercial, personal, and benefits/wealth insurance across multiple industry verticals to businesses and individuals, generating revenue through commissions on placed premiums via a relationship-driven, advisor-led go-to-market model.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industry

Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)

Keywords

• Commercial insurance brokerage
• Personal insurance services
• Risk management consulting
• Employee benefits planning
• Wealth advisory services

Headquarters

HQ city

Oakville

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Insurance brokerage services: The Magnes Group provides insurance brokerage services including commercial insurance, personal insurance, and benefits and wealth services. Revenue is generated through commissions from insurance products placed with insurer partners.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

The Magnes Group is a Canadian insurance brokerage that places commercial and personal insurance, employee benefits, and wealth services on behalf of clients. Founded in 1933 and headquartered in Oakville, Ontario, the firm operates with 101–250 employees and was acquired by Axis Insurance in June 2025, continuing under the Axis brand.

Product overview

The Magnes Group is an insurance brokerage firm that has been acquired by Axis Insurance. It provides insurance and risk management solutions. The source content does not provide details about a platform-plus-modules architecture or specific named digital products — the firm operates as a traditional insurance brokerage offering commercial and personal insurance products through Axis Insurance's expanded network.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Insurance
• Personal Insurance
• Employee Benefits and Life Insurance
• Wealth Services

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Axis InsurancecoreStrategic or Co-development Partner · 1 January 2025Axis Insurance acquired The Magnes Group as part of its continued growth strategy. The Magnes Group clients are welcomed into the Axis Insurance family, with the same trusted team now supported by expanded resources and specialized expertise from across the Axis organization. This transition combines local knowledge with national strength.

Scale indicators1 record

Recent moves3 records

Expansion highlights4 records

Market position

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/themagnesgroup
• Facebookfacebook.com/magnesaviationinsurance
• LinkedInlinkedin.com/company/the-magnes-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Magnes Group