London-headquartered insurance brokerage Benfield Corporate Risksaid it has acquired a Canadian specialty brokerage operation thathandles petroleum industry business.

The company furnished no monetary details concerning thetransaction involving two businesses of Beaufort Group–BeaufortInternational Insurance Inc. and Beaufort Insurance Services Inc.in Calgary Canada.

At the same time, Benfield said that Dougal Simpson, chiefexecutive of BIII and BISI, has been appointed head of its expandedCanadian operation.

Both BIII and BISI provide specialist insurance broking servicesto companies operating in the oil and gas exploration and oil sandsindustries throughout western Canada, Benfield said.

John Lapsley, chief executive of Benfield Corporate Risk, saidfrom Calgary that “the transaction doubles our size in westernCanada” and the Benfield operation would go from 10 employees to 20employees.” He said the firm does not disclose the volume ofbusiness it does.

The acquired firms, Benfield said, will be combined withBenfield Corporate Risk's Calgary office, which was established inJanuary 2005 and will enhance the company's specialty capabilitiesin the Canadian energy sector.

The businesses will trade as Benfield Corporate Risk withimmediate effect and all employees from BIII and BISI will remainwith the company.

Mr. Lapsley said in a statement that the acquisitions “willenable us to further expand our energy operations in this importantmarket and will complement our Mining, Construction and Aviationoperations in Calgary and Vancouver.”

Mr. Simpson, the new chief executive officer of BenfieldCorporate Risk Canada, commented, “Combining our operations withBenfield Corporate Risk will enable our existing and new customersto benefit from an enhanced level of service and capabilities.”