Canadian Underwriter

Archway Insurance acquires N.S.-based swanfinancial, cites value of traditional settings

September 8, 2015   by Canadian Underwriter

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Archway Insurance, one of Atlantic Canada’s largest independently owned insurance brokerages, announced Tuesday that it has acquired the general insurance business of swanfinancial, which is based in Oxford, N.S.

The terms of the transaction, effective October 1, were not disclosed.

Archway Insurance acquires swanfinancial's general insurance business

The move, however, helps position Archway Insurance “as the broker of choice for citizens of northern Nova Scotia,” notes a statement from the company, which focuses on providing customized coverage to match the specific needs of clients. Archway Insurance policies are underwritten by major, financially sound, Canadian insurance providers, it reports.

On its website, swanfinancial notes that it offers life insurance, guaranteed issue life insurance, property insurance, auto insurance, travel insurance, creditor insurance and critical illness insurance.

“As other insurance companies consolidate operations in large urban centres, we recognize the value in continuing to operate brokerages in more traditional settings as well,” Archway Insurance president Michael Stack says in the company press release. “We believe in providing professional service that meets our clients needs, be it face-to-face, over the phone, via email or on the web,” Stack adds.

Alan Swan, former owner of swanfinancial, reports in the statement that he chose to work with Archway Insurance on his succession plan because of the company’s commitment to Nova Scotia’s Cumberland County and the ability to seamlessly provide service to his clients locally.

Swan points out that Archway Insurance “has access to all of the same insurance markets swanfinancial did, as well as many additional insurance markets, to continue to meet clients needs and provide additional options to meet their future requirements.”

Ed Pettigrew, manager of Archway Insurance – Cumberland, will be responsible for management of the clients with office assistance continuing from long-time employee, June Betts.