Independent Canadian brokerage, Archway Insurance, has closed the largest Atlantic Canada M&A insurance deal so far this year. The firm has nearly doubled its footprint in New Brunswick following a triple brokerage acquisition, which includes seven new offices across the province.
Effective July 01, the Atlantic Canada-based brokerage has become the owner of Shaw Insurance Agency Ltd., Solutions Assurances 360° Inc. and J. & N. Assurances Ltée. The deal comes with a client base representing close to $20 million in premium volume.
“It’s exciting to see Archway Insurance continue to grow throughout the province of New Brunswick and enter new communities,” said Archway Insurance president Gina McFetridge. “This acquisition will add significant value to the acquired brokerages through increased expertise and choice in commercial, personal, group benefits, and life insurance options for existing and future clients.”
Archway Insurance has welcomed employees from seven new locations, five of which are in new communities in the province. Over time, the plan is to bring employees and offices together in Grand Falls and Edmundston where Archway already has offices. Former owner Andrew Page will join Archway Insurance, but the other leadership group has chosen to exit and pursue other opportunities.
Page commented: “I’m excited to become a part of the Archway Insurance team and look forward to helping employees have a successful transition to the new company. Archway has an excellent reputation and I know our clients and employees will be in good hands under the strength and leadership of this expanding brokerage.”