To kick off the new year, Canadian commercial insurance brokerage Navacord has added three new broker partners into its fold: Group Lockhart, PGI Financial, and Maritime Group Benefits.
Group Lockhart and PGI Financial – both based in Ontario – have over 60 years of combined industry experience in the benefits space. They have managed to establish proprietary association endorsements and national programs within the hospitality and auto-dealership sectors, while keeping their focus on local small- to mid-sized corporate accounts, a release said.
“On our P&C side, Navacord has incredible depth and experience within the hospitality and auto-dealership sectors in Canada,” said Navacord executive chairman T. Marshall Sadd. “The expertise and relationships that both PGI and Group Lockhart bring with them are a powerful complement that also allows us to provide a vital service to recovering sectors of our economy that are demanding expert advice as they navigate a changing environment for their employees and customers.”
Founded in 2012, Maritime Group Benefits (MGB) “offers an innovative and thoughtful approach to benefit and retirement plan design,” a release said.
“MGB has built a strong reputation and business that reinforces the power and importance of local-touch service in Canada’s distinct regional markets,” said Navacord president and CEO Shawn DeSantis. “We’re excited to support MGB’s continued growth—of talent, expertise, and business—while collaborating and exploring the synergies that exist for our clients as we deepen our reach within Atlantic Canada.”
Navacord said that it has grown to become Canada’s fourth-largest commercial brokerage thanks to organic growth and its partnerships with “high-performing, entrepreneurial brokers.”
In November, Navacord announced that two of its broker partners – namely, Partners Indemnity Insurance Brokers and Paisley Manor Insurance Brokers – consolidated their brands into one as Paisley Partners. The consolidation was done in order to boost their presence in their respective regions.
Read more: Navacord secures two new acquisitions
Also in November, Navacord secured two partnerships in Ontario: Ives Insurance Brokers and Northern Insurance Brokers, formerly known as Algoma Insurance Brokers Limited. The two brokerages are the largest partnerships Navacord has made in Ontario last year.
