Navacord strikes fifteenth deal of the year

New partner is an automotive dealer specialist

Navacord strikes fifteenth deal of the year

Mergers & Acquisitions

By Jen Frost

Navacord has announced its latest partnership, with Ottawa-based Binks Insurance Brokers.

Binks Insurance was founded in 1918 and is best known for working with automotive dealerships, as well as other business sectors and not-for-profits.

The Navacord partnership has been effective since the start of July.

“As the third generation leading this brokerage, I am ready to take the legacy that my grandfather and father built and launch into our next stage of growth, backed by Navacord’s support,” said Harry Binks, president and CEO, Binks Insurance.

“I look forward to continuing to deliver innovative solutions to the businesses and organizations we service within Ottawa and its surrounding regions, with greater access to resources and markets.”  

The partnership will “fortify our strength in Canada’s capital city”, according to Navacord CEO and president Shawn DeSantis, who welcomed the business’s niche dealership expertise.

“We welcome Binks onboard with an optimistic outlook for our future together,” said T. Marshall Sadd, executive chairman, Navacord.

“Navacord is eager to elevate our bench strength with our neighbours in Ottawa, especially with a top-caliber commercial brokerage like Binks who has effectively demonstrated a trajectory of continuous growth for over a century.” 

The deal marks $3 billion premium broking business Navacord’s fifteenth partnership of 2022, with Binks Insurance to be “supported” by founding Navacord Broker Partner, Jones DesLauriers, according to the firm.


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