January 3, 2017 by Canadian Underwriter
Archway Insurance has enhanced its presence in Nova Scotia generally and in Pictou County specifically with the recent acquisition of Stellarton-based D.R. Hayman Insurance.
The acquisition, effective Dec. 31, 2016, represents the entry of Archway Insurance – one of Atlantic Canada’s largest insurance brokerages – into Pictou County, notes a company statement Tuesday.
“Pictou County is a vibrant area of our province and we’re very excited to be able to have a convenient location to serve both existing and new clients in this region,” Archway Insurance president Gina McFetridge says in the statement.
D.R. Hayman Insurance has provided both personal and business insurance in Pictou County area for more than 50 years. Archway Insurance, for its part, is a growing, Atlantic-owned, independent insurance brokerage with 21 offices in the region.
All existing employees of D.R. Hayman Insurance will be retained, the statement notes, adding that Archway Insurance has plans to increase sales and marketing efforts in the new location.
Boyd Greene, current president of D.R. Hayman Insurance, has agreed to remain through the transition period to provide continuity for clients and staff.
“Putting our customer first is at the heart of our business and we’ve found a great partner in Archway who shares this value,” Greene says in the statement.
The acquisition follows a decade-long relationship in which Archway Insurance and D.R. Hayman Insurance have worked co-operatively in their respective market areas. “Their management and brokers share a common philosophy of the advantages to working with an insurance broker.”
Less than before the D.R. Hayman Insurance announcement, Archway Insurance reported in early December it had entered nine New Brunswick communities with the purchase of Alliance Assurance, also effective Dec. 31. That deal represented its single, largest brokerage purchase to date.
Alliance Assurance will continue to operate as new locations of Archway Insurance, with no major changes planned to existing roles and responsibilities for staff.
Over the past decade, Archway Insurance has acquired a number of brokerages across Nova Scotia and New Brunswick. With the acquisition of D.R. Hayman Insurance, it now has 21 locations in the two provinces.