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Madison-backed Navacord acquires LL Renaissance

Navacord Corp, a portfolio company of Madison Dearborn Partners, has acquired LL Renaissance, a Toronto-based property and casualty insurance company with a focus on the automobile and other sectors.

Navacord Corp, a portfolio company of Madison Dearborn Partners, has acquired LL Renaissance, a Toronto-based property and casualty insurance company with a focus on the automobile and other sectors. No financial terms were disclosed. Toronto-based Navacord is one of Canada’s top commercial insurance brokerages.

PRESS RELEASE

TORONTO, ON, April 6, 2021 – Navacord Corp., one of Canada’s top four commercial insurance brokerages and a leader in risk management services, is pleased to announce the addition of LL Renaissance, effective April 1, 2021.

With an agile team and track record of working with clients in “difficult to insure” industries, LL Renaissance delivers innovative solutions for property and casualty insurance, with specialty products for auto dealerships, and deep expertise spanning the automotive, marine, property management, construction, professional indemnity, hydro-electric and pharmaceutical industries.

While the new partnership delivers a competitive scalability strategy for LL Renaissance, it also provides broad market access, infrastructure, and a National resource model that is dedicated to supporting collaboration and stewardship across Canada.

“We were looking for the right business model—the right fit, and the experience working with Navacord has been refreshing” says Philip Kane, President and CEO of LL Renaissance. “In Navacord, we have found a Canadian National Partner that provides the backing and support we need to grow, while respecting what makes us truly unique.”

“What attracted us to LL Renaissance was the entrepreneurial drive within the team—they don’t settle for the standard market offering,” says T. Marshall Sadd, Executive Chairman, Navacord. “By building out their unique set of products and expertise, they create differentiation withintheir business and fortheir clients, and that’s something we think can benefit Partners and clients across Navacord as we expand our reach.”

With a head office in Toronto, but servicing clients from coast to coast, LL Renaissance will work closely with Jones DesLauriers Insurance Management Inc. (JDIMI)—a Navacord broker partner—to continue to build out a strong National value proposition and strengthen Navacord’s leadership within the Automotive industry with product distribution and service across Canada.

About LL Renaissance
Since the 1970s, the team behind LL Renaissance has continuously demonstrated their expertise while building a deep understanding of the risk management world to assure their clients receive the fairest prices for their insurance products. With a track record for innovation and managing difficult to insure businesses, they have pioneered new products like the Automobile Dealers Insurance Exchange (ADIX), and pride themselves on finding long-term and proactive solutions for their clients. LL Renaissance operates under a simple philosophy: ensure clients get exceptional service with guidance from the most experienced team in the insurance industry.

About Navacord
Founded in 2014 and headquartered in Toronto, Ontario, Navacord is one of Canada’s top four commercial insurance brokerages and a leader in risk management services with more than $2 billion in premiums. From commercial and personal insurance to surety, employee benefits and retirement consulting, Navacord leverages national strength and a wealth of resources with the local-touch service of industry-specialized Navacord Broker Partners to deliver the trusted advice, expertise and custom insurance solutions our clients need to face the future with confidence.