Archway Insurance burst onto the big brokerage stage in 2017, with a number of significant acquisitions helping the company double in size, and taking it from 12 to 22 offices, 150 employees and almost $100 million in insured premium.
A year of “aggressive growth” and target-smashing for the Atlantic Canada-based brokerage culminated in the Markel Award for Big Brokerage of the Year at the Insurance Business Canada Awards 2017 – a tribute president Gina McFetridge described as “a huge honour.”
“Archway has been growing through acquisitions for a number of years now, but 2017 was certainly our most aggressive year in terms of growth,” McFetridge said. “Rapid change via M&A requires patience, consistency and a well thought out plan.
“It can take some time for an acquired partner to transition from one culture to another, but that’s a process we find very exciting. We’ve worked tirelessly to promote our brand in Atlantic Canada, and it’s now reached a point where brokers are excited to become part of Archway. It’s great if our new broker partners see joining Archway as a positive transition rather than a scary change.”
Targeted M&A activity is helping Archway Insurance generate business in more insurance markets. The big brokerage is using acquisition to “enhance [its] ability to provide choice” to its clients and get one step closer to its ultimate goal – “to be a one-stop-shop for all of Archway customers’ insurance needs,” McFetridge explained.
As well as M&A, Archway Insurance is investing in new technology and has started the implementation of a digital portal that will enable clients to self-serve and review policy information online.
“One thing we’re particularly proud of is how we’ve maintained a family spirit and kept our connection with the local communities where we do business. I think we’re unique in this manner,” McFetridge commented. “Often, with growth and automation, companies can lose touch with the communities where they do business, but we’ve been able to have leadership on the ground, playing an active part in local community life, and supporting local charities and events.
