Navacord Corp (Navacord), one of Canada's leading commercial insurance brokerages, has continued its acquisition spree this year by swooping for Arbutus Financial Services (Arbutus) and adding Surrey Insurance to Allwest Insurance Services Ltd (Allwest), a Navacord broker partner, both effective March 1, 2022.
Arbutus provides a corporate portfolio, including group benefits and retirement consulting, as well as individual financial planning, wealth management, and life insurance solutions. Known for its PACT (professional, accountable, committed, and thorough) client promise, the Arbutus team provides a comprehensive, tailored approach to its solutions and helps clients achieve business and personal financial confidence.
The deal will see Vancouver, B.C.-based Arbutus bring a diverse range of sector specialisation to Navacord, including deep expertise within the mining, gaming technology, software, and film industries.
“We work tirelessly to gain the trust of our clients, with a very intentional focus on getting to know them at a personal level,” said Arbutus president Neil Menzies. “The national reach and core values of Navacord will help to propel us into the future with strength and confidence. Joining them is the next natural step in elevating our business.”
Navacord executive chairman T. Marshall Sadd said Arbutus has a growth track record, local-touch service, and community connection aligned with the brokerage's values.
“We are always on the lookout for strong broker partners,” Sadd said. “We are excited to continue the collaboration and to see what we can build together.”
Another addition is Surrey Insurance, which will join Navacord broker partner Allwest's roster. Founded in 2005, the company offers a comprehensive range of auto, life, travel, and home insurance across B.C.’s lower mainland. With an extensive auto insurance department and deep community connections, its range of expertise and service-oriented approach align well with Allwest's sector specialisation.
As a Navacord broker partner, Allwest will enable the Surrey Insurance team to provide an expanded product and service offering through enhanced national resources and increased market access. The deal will also see Surrey Insurance operate under the Allwest brand, creating a cohesive and comprehensive insurance services team across the lower mainland.
“We are extremely thrilled to welcome the Surrey Insurance team to Allwest,” said James Beaulieu, chief operation officer at Allwest. “As another locally based team, and one of our neighbours, they understand the unique needs of B.C. clients and share our central values. We look forward to supporting them, collaborating, and celebrating this next phase of growth together.”
The announcement follows Navacord's first deal in Quebec with the acquisition of Abatis Risk Management (Abatis), marking the brokerage's first strategic partnership in La Belle Province.