Which firm racked up 8 mergers over the summer?

Brokerage M&A has been hectic so far in 2022, with one firm bringing eight brokerages across Canada under its wing during the summer.

Navacord today announced it closed eight acquisitions during July and August that expands the company’s presence in both group benefits and P&C in many Canadian provinces. This includes the company’s first deal in Manitoba.

Firms partnering with Navacord over the summer include:

• CHS Benefits Consulting Group, an Edmonton, Alta.-based group benefits advisory that offers health and dental insurance, registered pension and retirement plans, life, disability and critical illness insurance, and other plans.
• Thrive Benefits Group, a Windsor, Ont.-based benefits provider specializing in extended health and dental care and group life and disability insurance.
• Global Alliance Specialty Solutions, a Nanaimo, B.C.-based specialty MGA offering coverages across a range of industrial applications including contractors, cargo, transportation, aviation and more.
• Binks Commercial Insurance, an Ottawa-based provider of commercial vehicle, surety, technology risk, auto dealership, contractors, travel and extended healthcare, and other coverages.
• Hunley Insurance, a Rocky Mountain House, Alta.-based provider of auto, home, commercial, construction, farm, oil field, specialty events liability and travel coverages.
• Insurance Store, with five Ontario locations providing home, auto, a wide range of business coverages, and farm insurance.
• ONYX Financial Group, a Winnipeg-based wealth management and benefits consultant.

There was also one small-book deal during the July-August period, according to a spokesperson.

Following a busy 2021, brokerage consolidation continues to track an aggressive pace this year as other firms also have announced multiple mergers in recent weeks and months.

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