January 30, 2012 by Canadian Underwriter magazine
The H.W. Kaufman Financial Group, parent company of wholesale broker and underwriting manager Burns & Wilcox, announced its purchase of Chesterfield Group, Ltd., a London-based insurance broker and underwriting organization with companies in the UK, USA, and Canada. The acquisition expands Kaufman Financial Group’s international presence in the specialty insurance marketplace.
As part of the transaction, Kaufman Financial Group acquired Chesterfield Canada, Inc., a wholesale broker of specialty commercial business placed with domestic Canadian insurers and Lloyd’s of London. Chesterfield’s offices are located in Toronto and Ottawa and will operate as Burns & Wilcox Canada.
Alan Jay Kaufman, President, Chairman and CEO of Kaufman Financial Group, said, “the Kaufman Financial Group has been looking for the right opportunity to bring our expertise and product knowledge to Canada. Chesterfield Canada was attractive to us because of their strong reputation and our shared drive to expand relationships in the Canadian market.”
“We see great potential to utilize our expertise and capabilities to serve Canadian brokers; Burns & Wilcox plans to grow more extensively throughout Canada,” Kaufman added.
Gary Hirst, executive director of Chesterfield Canada Inc., said, “combining the shared values and entrepreneurial qualities of the two organizations enables us to offer a greater depth and breadth of products to our clients and producing brokers across Canada.”
All of Chesterfield Canada’s employees, including senior management, will become part of the Burns & Wilcox Canada team.
In the past few years, Kaufman Financial Group has acquired multiple insurance-related entities in the United States. The Chesterfield Group acquisition is a significant milestone in expanding Kaufman Financial Group’s operations worldwide.
About Kaufman Financial Group and Burns & Wilcox
The H.W. Kaufman Financial Group is the parent company of Burns & Wilcox, the largest privately-held wholesale broker and underwriting manager. Burns & Wilcox has more than 40 offices across the United States, Canada and London and employs more than 1,000 professionals . Founded in 1969 and headquartered in Farmington Hills, Michigan, Burns & Wilcox is internationally recognized for its insurance brokerage and underwriting expertise in commercial and professional liability, property, marine, and personal insurance.
The Kaufman Financial Group companies can meet all the needs of broker and agent clients. The Kaufman Financial Group includes Burns & Wilcox, Burns & Wilcox Brokerage, Burns & Wilcox Re, and R.B. Jones. It also encompasses Royal Premium, a premium financing company; US-Reports, an inspections, audits, and risk-management company; and Minuteman Adjusters.
The Chesterfield Group, established in 1999, is a wholesale and full service insurance organization which focuses on binding authority, reinsurance and commercial facultative business for clients worldwide.
The group employs more than 60 people with offices in London, Dallas, Ottawa and Toronto. The principal operating company, Chesterfield Insurance Brokers, offers a wide range of specialty products and is a market leader in providing cover in high risk territories, media and entertainment, property, professional liability and coverholder binding authorities.
Authorized by the Financial Services Authority and an accredited Lloyd’s broker, the Chesterfield Group operates actively with all major international markets.
More information can be found at www.chesterfieldgroup.co.uk.