March 7, 2019 by Jason Contant
H.W. Kaufman Group and Burns & Wilcox Canada announced Thursday they have acquired Toronto-based TRU Transportation Risk Underwriters Ltd., a managing general agency with unique transportation expertise.
TRU will become part of B&W Canada, a flagship organization of Kaufman and Burns & Wilcox, an MGA and specialty insurance broker. TRU works exclusively with independent insurance brokers and provides risk solutions for truck and taxi commercial fleets across Canada. It is licensed in Alberta, Ontario, New Brunswick, Nova Scotia and Prince Edward Island.
The acquisition is Kaufman’s 19th since 2010, and will augment the company’s existing inland marine expertise, B&W Canada said in a press release. In addition, B&W Canada will be well-positioned to capture opportunities in the evolving transportation space.
B&W Canada has offices in Toronto, Halifax, Montreal, Ottawa, St. John’s and Vancouver. It offers more than 300 specialty products, including property and casualty, professional liability, environmental liability, construction, ocean and inland marine, and personal insurance and accident.
John McGlynn, who was a principal of TRU, will bring his inland marine portfolio and expertise to B&W Canada, serving as director of transportation within the company’s Toronto office. He will report to Jodie Kaufman Davis, corporate senior vice president of H.W. Kaufman Group and managing director of B&W Canada.
“TRU is well-known for their success and experience with hard-to-place transportation risks, requiring deep knowledge and proficiencies that makes this strategic deal a strong fit for our business,” Kaufman Davis said. “The rise of the sharing economy and growth of new transportation services are transforming the Canadian transportation space. We look forward to leveraging TRU’s inland marine expertise to better serve our clients in navigating this ever-changing landscape.”
Producing upwards of $55 billion annually, the Canadian transportation industry overall has experienced significant growth in recent years, making up nearly five percent of total gross domestic product, according to 2017 statistics from the federal government.