Canadian Underwriter

BFL Canada acquires B.C. brokerage

May 15, 2019   by Jason Contant

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Large commercial brokerage BFL Canada announced Tuesday the acquisition of British Columbia-based Summit Insurance Brokers Inc.

Summit, based in Prince George, was founded in the late 1990s and brings expertise in industrial, commercial and farm risks to BFL Canada. Summit places a variety of property and casualty insurance for clients in central and northern B.C., but specializes in services for the forestry, logging contractors, agriculture, transportation and suppliers to oil and gas and mining industries.

Hugh Delwo, former president and CEO at Summit, will assume the position of managing vice president for the Prince George office, BFL Canada’s 16th location. Al Delwo – a Canadian certified insurance broker with over 40 years of insurance experience and former Summit vice president – will lead business development efforts for the region.

Barry F. Lorenzetti, president, CEO and founder of BFL Canada, said the acquisition of Summit will provide BFL Canada with a stronger presence in key Canadian growth sectors.

“We expect the economy in central and northern British Columbia to experience significant growth over the next five years and the completion of this transaction will allow BFL Canada to bring its industry specialization, market leverage, business model, centres of excellence, and digital expertise to the region,” he said.

In 1987, Lorenzetti founded BFL Canada, one of the largest employee-owned and operated risk management, insurance brokerage and employee benefits consulting services firms in Canada. The brokerage has a team of over 700 professionals and is a founding partner of Lockton Global LLP, a partnership of independent insurance brokers and agents who provide risk management, insurance and benefits consulting services in over 125 countries around the world.

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