The Magnes Group
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.
- Company typePrivate
- Founded1933
- HeadquartersOakville, Canada
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
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.
The Magnes Group firmographics
Firmographics- 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
The Magnes Group industry classification
Industry- 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
Where The Magnes Group is headquartered
LocationHeadquarters
- HQ city
- Oakville
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
The Magnes Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales
Revenue model
- 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
The Magnes Group product offering
Product offeringCore 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
Companies that use The Magnes Group
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles2 records
The Magnes Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
The Magnes Group partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Axis InsurancecoreAxis 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
The Magnes Group competitors and assessment
Company assessmentMarket position
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
The Magnes Group social profiles
Digital presenceThe Magnes Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Magnes Group leadership team
Management profileNumber of profiles
Profiles3 records
The Magnes Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Magnes Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Magnes Group
What does The Magnes Group do?
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.
Is The Magnes Group a public or private company?
The Magnes Group is a private company. It is classified as corporate owned and is currently acquired.
When was The Magnes Group founded?
The Magnes Group was founded in 1933. It employs 101 to 250 people.
Where is The Magnes Group based?
The Magnes Group is headquartered in Oakville, Canada, in the North America region.
How does The Magnes Group make money?
One revenue line is on record: insurance brokerage services.
Does The Magnes Group have an API?
No public API is recorded for The Magnes Group.
What industry is The Magnes Group in?
The Magnes Group's product category is Insurance Brokerage. Its primary akta.pro industry code is FSAEADAK, Insurance Program Administration & MGA/MGU Services, with a secondary code of FSAAACAI, Insurance-Integrated Wealth Managers (RIA + Insurance Solutions). Its NAICS code is 52421 and its SIC code is 6411.