March 30, 2021 by Canadian Broker Network
ST. JOHN’S, NL, MAR. 30, 2021/insPRESS/ – Jeff LeGrow, Chairman/CEO of Cal LeGrow Insurance and Financial Group (“Cal LeGrow”) and Synex Business Performance (“Synex Group”) are pleased to announce the acquisition of GoToInsure.ca (“GTI”), which includes 19 locations in the Atlantic provinces.
With the purchase of GTI, the combination of the three brokers will manage over $345 million in premium volume across the region.
“With this acquisition we earn an even bigger seat at the table with insurance carriers in order to secure better solutions for our clients in both personal lines and business segments,” says Jeff LeGrow who will serve as joint Chairman of Cal LeGrow and GTI.
Adds LeGrow, “GTI’s strong reputation and performance under a seasoned leadership team is exactly the kind of opportunity we were hoping to discover when Cal LeGrow launched in the Maritimes in 2018. We are thrilled to welcome each and every one of the GTI employees to join us in building something special for our future. The Cal LeGrow team brings serious commercial expertise to the GTI brand while the Synex team delivers national expertise and scale.”
John Stevens, President of GTI said, “The partners are thrilled by the opportunities this will bring to both our clients and staff. We will continue to live out our core values of community and integrity. Combined with a focus on innovation, this partnership will create a future of stability and growth in this ever- changing marketplace. Independence is an important pillar of our culture and with the combined strength of our teams, this independence will continue for many more years and enable us to make decisions that reflect the needs of both our clients and staff.”
The acquisition is set to strengthen the Synex Group’s market share in eastern Canada, boosting the Quebec-based brokerage’s total premium volume to over $285 million and positioning the firm as one of the top broker leaders in the country.
“With the support of the Canadian Broker Network (CBN), who introduced us to the Cal LeGrow team, we flexed our imaginations and relationships to make an acquisition of this scale a reality,” said Yan Charbonneau, President and CEO of Synex Group. “We, like CBN, believe in remaining fiercely independent as we join forces with GTI. GTI has a stellar reputation, large customer base and a very high renewal rate – demonstrating the quality of talent we are excited and honored to move confidently into the future with.”
Both Cal LeGrow and Synex Group are Executive Founding members of CBN, a proudly Canadian network, that played a pivotal role in bringing together this collaborative partnership. CBN is an alliance of independent insurance brokers who are at the forefront of industry transformation and innovation and represent more than $1.5 billion in premium, with over 1,500 employees in over 50 offices across Canada.
Gotoinsure.ca employs over 130 people across 19 locations in Nova Scotia, New Brunswick, and Newfoundland and Labrador. They manage over $85 million in premium volume annually across a range of products for individuals and business, including auto and home insurance, life insurance, recreational vehicle insurance, commercial insurance, and group insurance. More details at gotoinsure.ca.
About Cal LeGrow Insurance and Financial Group
Cal LeGrow, which was founded in 1984, employs over 52 employees across 6 locations in Atlantic Canada and places over $50 million in premiums annually. One in Four businesses in Newfoundland and Labrador partner with Cal LeGrow as their insurance advisor. Cal LeGrow also has a financial services division dedicated to Group Benefits and Mortgages and through the Cal LeGrow Foundation has donated over $280,000 to at risk youth groups in Atlantic Canada. Cal LeGrow is an executive member of the Canadian Broker Network. More details at callegrow.com.
Synex Business Performance owns the Synex Assurance brand, consisting of eight property and casualty insurance firms in Canada. These include : Couture Rochette & Associés, Deslauriers & Associés, Deslauriers Assurances, Renaud Assurances et Gestion de risques, Invessa, Girard Tremblay et Associés Inc., A-Kan Insurance and now co-ownership of gotoinsure.ca. Synex has a premium volume in excess of $285 million in Québec, Alberta and the Atlantic provinces. Synex Group is also an executive member of the Canadian Broker Network (CBN). More details at synexcorp.com.
About the Canadian Broker Network
Canadian Broker Network, which prides itself in being fiercely independent and proudly Canadian, is an alliance of leading independent insurance brokerages representing more than $1.5 billion in property casualty premiums as well as employee benefits and life and financial services, with over 50 offices across Canada and more than 1,500 employees. The network offers independent, employee-owned brokerages a unique way to grow and innovate their businesses by leveraging the collective wisdom, experience, and connections of its members.
Maturing out of a forum dating back to 2002, originally designed to exchange best practices, CBN’s guiding principles of innovation, collaboration, commitment to growth, and independence ensures that members can deliver the best possible value proposition to their clients, employees, and insurer partners.
For Further Information:
Chairman & CEO
Cal LeGrow Insurance and Financial Group
1 709 682 5525
President & CEO
Synex Business Performance
1 418 999 728
1 506 622 8848