One of the Maritimes' largest independently-owned insurance brokerages today announced the purchase of Halifax’s Basin Insurance.
“Basin is a great addition to Archway Insurance,” says Michael Stack, vice president of Archway Insurance. “The management and employees have done a wonderful job of caring for clients and growing this metro office over the past five and half decades.”
Although management will change hands on January 1, Stack says it will be business as usual for employees and clients at Basin Insurance, and the Bedford Highway location will remain.
“The aspect of this new partnership which I find most reassuring is that Basin’s family of customers will continue to be serviced by an independently owned, local insurance brokerage,” says Robert Knapp, president of Basin. “In fact, our customers will be able to access an even wider selection of rates and services through Archway’s expanded network, which includes most of Canada’s leading insurers.”
The acquisition of Basin brings the total number of Archway locations to 10, from Yarmouth, N.S. to Miramichi, N.B. Over the past decade, Archway has purchased 16 brokerages across Nova Scotia and New Brunswick, quietly amassing a substantial presence and market share. (continued.)
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The Basin deal is characterized as strategic, expanding Archway’s presence in the Halifax regional market.
Knapp and his wife Lynn will stay on temporarily to assist with the management transition. Long-time Basin staff member Glenn Blowe will step into the role of office manager. All other staff will continue in their roles.
Basin Insurance, founded in 1960, provides auto, homeowners and small business insurance, as well as large multi-peril commercial and marine insurance products.
Headquartered in Amherst, N.S., Archway Insurance received the Canadian Association of Family Enterprise’s National Family Enterprise of the Year Achievement Award for 2013.
