January 31, 2017 by Canadian Underwriter
H.W. Kaufman Financial Group and Burns & Wilcox Canada announced on Tuesday that they have acquired the high-value homeowner’s insurance practice from Quebec-based XN Financial Services, Inc.
XN is a subsidiary of The Henner Group, a France-based insurance specialist offering solutions for individuals and companies. XN is a managing general agent and provider of insurance products, Burns & Wilcox Canada said in a press release. XN Canada Private Client Services’ (XN PCS) employees and products, designed specifically for the needs of high-value homeowners, will become part of Burns & Wilcox Canada, a flagship organization of Kaufman group of companies and a North American managing general agent and specialty insurance broker.
The acquisition marks the expansion of Burns & Wilcox Canada into Quebec.
“Strategic acquisitions that complement, further strengthen, and expand our expertise into new markets is a deliberate focus,” said Alan Jay Kaufman, chairman and president and CEO of H.W. Kaufman Financial Group, in the release. “The acquisition adds substantial value to Burns & Wilcox Canada in Quebec’s growing insurance landscape.”
Jodie Kaufman Davis, corporate vice president and managing director of Burns & Wilcox Canada, added that her company is “proud to open its new office in Montreal, and we welcome the talented colleagues of XN PCS to our team. The acquisition fits into our long term strategic growth plan, enhancing our personal lines capabilities in Quebec.”
Carol Bolduc, director of relationships with brokers at XN PCS, said that the organization is “pleased to join such an established, trusted, and client-focused firm like Burns & Wilcox Canada, which can “provide the diversified range of expertise, experience and services our clients demand.” Bolduc will stay on with Burns & Wilcox Canada as the Quebec Personal Lines manager.
This marks the 15th acquisition by H.W. Kaufman Financial Group since 2010. In January 2016, the company announced that it had acquired Toronto-based Technical Risk Services (TRS), a provider of loss control services, inspections and risk control consulting. TRS will continue to operate under the TRS name as part of Canadian Reports, H.W. Kaufman Financial Group reported in a statement last January. Gilles Proulx, former executive vice president of client services with TRS, will join the Kaufman team as president of Canadian Reports.
Burns & Wilcox Canada is a managing general agent with offices in Toronto, Ottawa, Halifax, and St. John’s. Burns & Wilcox offers more than 300 specialty products and is recognized for its expertise in property and casualty, professional liability, transportation, environmental liability, construction, ocean and inland marine, personal insurance and accident.
Burns & Wilcox Canada is a member of H.W. Kaufman Financial Group, whose global activities include: Burns & Wilcox, Burns & Wilcox Brokerage, Burns & Wilcox Re, Atain Insurance Companies, Canadian Reports, US-Reports, Chesterfield Insurance Brokers, Lochain Patrick, Cranbrook Underwriting, Global Excess Partners, R.B. Jones, Royal Premium and Minuteman Adjusters.