Navacord makes its largest deal of the year

Navacord Corp. has completed its 20th and largest M&A deal of the year following its partnership with Insurance Store, effective Aug. 1, 2022.  

Headquartered in Windsor, Insurance Store has five offices across Ontario in Barrie, Collingwood, Chatham, and Woodstock, and also services customers in British Columbia. The brokerage was founded in 1945 and offers coverage in personal, commercial and farm lines. 

“We can see that Insurance Store is poised for growth, and that excites us,” Shawn DeSantis, president and CEO of Navacord, comments. “Their entrepreneurial spirit, and belief in their brand, practice, and community resonates with our vision of providing local touch service with national strength.”  

Insurance Store represents Navacord’s “most substantial partnership of 2022,” a Navacord release states, “and one that is expected to grow with the support of Canada’s 4th-largest insurance brokerage backing them.”

The deal follows Navacord’s most recent partnership with Ottawa-based Binks Insurance Brokers Limited in July.  

Other Navacord deals this year include: Lyon & Butler Insurance Brokers Ltd., effective May 1, Arbutus Financial Services, effective Mar. 1, and Stone Insurance Brokers, effective Feb. 1.  

 Feature image by iStock.com/metamorworks