Navacord snaps up Avant Insurance
Navacord snaps up Avant Insurance | Insurance Business Canada
Mergers & Acquisitions
Navacord snaps up Avant Insurance
It’s the group’s first deal for 2024
Mergers & Acquisitions
By
Terry Gangcuangco
Winnipeg-based Avant Insurance has come under the Navacord umbrella.
Navacord’s first swoop for the year aligns with the Toronto-headquartered group’s expansion efforts in Manitoba. According to Navacord, Canada’s third biggest commercial insurance broker, Avant is its third acquisition in the province in recent years.
Avant has been trading since 2016, offering personal and commercial insurance solutions from its three offices. Seen as a key player in Manitoba, the company was cited for its dedication to prioritizing client relationships over profits – a principle that Navacord said resonates with its client-first ethos.
Shawn DeSantis, Navacord president and chief executive, commented on Avant’s arrival, saying: “We’re very pleased to welcome Avant Insurance and to have them be our first partner of the new year.
“Our collaboration is a testament to Navacord’s commitment to building strategic partnerships in Manitoba, reinforcing our focus on talent acquisition and alliances with businesses that share our vision as Canada’s third largest commercial insurance brokerage.”
Meanwhile, Avant president and CEO Cole Leitch pointed to the synergies between the two firms.
“Joining forces with Navacord is an exciting chapter for Avant Insurance,” Leitch said. “Our shared values of prioritizing people and fostering long-term client relationships create a strong foundation for this partnership.
“We are confident that being part of Navacord will open up new opportunities for growth and innovation, allowing us to continue providing exceptional service to our clients.”
Recent swoops by Navacord include Markham-based Condominium Insurance Solutions, Unity Managing Underwriters in Toronto, and Vancouver Island’s Harbord Insurance.
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