Burns & Wilcox Canada acquires Toronto-based MGA

Burns & Wilcox Canada has announced its acquisition of Avec Insurance Managers, a Toronto-based managing general agent.

Avec specializes in marine, inland marine and other specialty commercial lines. The company will become part of Burns & Wilcox Canada, a subsidiary of Kaufman Financial Group.

“Burns & Wilcox Canada is one of our fastest growing companies and its continued success requires an influx of talent and expertise to meet the increasing needs of Canadian brokers,”Alan Jay Kaufman, chairman, president and CEO of the Kaufman Financial Group said in the announcement Tuesday.

“Avec brings complementary products and markets to Burns & Wilcox Canada, along with an experienced team and the opportunity to serve a broader broker base.” 

Avec was founded in 2004 by a group of Canadian insurance specialists, and since then, the company has grown substantially, including expanding into western Canada, Burns & Wilcox noted.

Today, four of the original partners – Stephen Oxley, Thomas Sampson, Patrick Barco and Martha Paz – are in leadership roles and will remain in key positions as they bring the entire Avec team to Burns & Wilcox Canada. 

“We found the Kaufman Financial Group and Burns & Wilcox Canada to have a similar culture, with passionate and innovative professionals that share an enthusiasm for continuing education, for expanding our business and for investing in our team,” Stephen Oxley, president of Avec Insurance Managers noted in the announcement.

“In addition, joining Burns & Wilcox Canada will deliver new capabilities to better serve our clients and brokers in managing their global transactions.”