June 10, 2021 by Jason Contant
Navacord Corp. has finalized a record number of brokerage acquisitions in one month, with four deals already closed across the country in June.
The latest transactions represent a total of 18 new locations and over 430 employees. More deals are are expected this summer, “as [Navacord] progresses towards $3 billion in premium,” the large commercial brokerage announced in a press release Thursday.
The new partnerships in June “represent a nearly coast-to-coast mix of P&C and group benefits brokers,” Navacord reported. The deals include Ing & McKee Insurance in central Alberta; Navigo Financial Solutions in Oakville, Ont.; and Risk Balance Inc. in Ottawa. The fourth is the Maritimes addition of the group benefits and pension division of Owens MacFadyen Group, which will open branch offices in Nova Scotia and New Brunswick under the brand name, Selectpath Benefits and Financial.
Each of the new brokerages bring experienced commercial, property and casualty and benefits teams to Navacord.
Navacord has already made a handful of acquisitions this year, including:
Navacord was founded in 2014 and currently handles more than $2.5 billion in premiums. Headquartered in Toronto, the brokerage offers commercial and personal insurance, surety, employee benefits and retirement consulting.
Feature image by iStock.com/Dmitrii_Guzhanin