Navacord broker Lloyd Sadd makes key deal

Navacord broker Lloyd Sadd makes key deal | Insurance Business Canada

Insurance News

Navacord broker Lloyd Sadd makes key deal

Partnership hailed as a “significant step”

Insurance News

By
Jen Frost

Alberta-based Casey Insurance has joined forces with Navacord broker partner Lloyd Sadd.

The partnership, bringing together the two Albertan brokerages, marks a “significant step” for both parties, Lloyd Sadd said in a press release. Lloyd Sadd, a founding Navacord broker partner, said it expects to continue “ascending” its growth trajectory in 2023 and beyond.

“We’re thrilled to welcome Casey Insurance to the Lloyd Sadd bench,” said Chris Huebner, president and CEO, Lloyd Sadd. “Their entrepreneurial spirit and dedication to their clients align perfectly with our own values, and we look forward to working together and providing exceptional service with an enhanced collaborative power.”

Property and casualty (P&C) brokerage Casey Insurance was founded in 1978 and is based in Peace River, Alberta.

“We are excited to join Lloyd Sadd and begin this next chapter for Casey Insurance,” said Lisa Jebb, owner, Casey Insurance. “Their status as a leading brokerage in Western Canada, combined with our shared approach towards servicing our communities and clients, made them the perfect fit for us

The deal was effective from April 1, 2023.

Last November, Navacord broker partners BCI Benefits, CHS Benefits Consulting, and Vanta Benefits came together to form Lloyd Sadd Consulting, a separate entity to Lloyd Sadd Insurance Brokers.

Navacord growth plans

Navacord CEO Shawn DeSantis and executive chairman T Marshall Sadd, the former CEO of Lloyd Sadd, have told Insurance Business that the group is looking to grow to more than $5 billion in premium within four to six years. As of last October, Navacord sat at over $3 billion in premium across P&C and benefits.

In February, the business inked its first specialty travel insurance market deal, partnering with Guardian Insurance, AwayCare and Colibri Assurance Voyage.

Have something to say about this story? Let us know in the comments below?