Navacord Corp has acquired Demers Insurance Ltd, a Bonnyville, Alberta-based provider of personal and small business insurance.
Terms weren’t released for the deal, which follows Navacord’s acquisition of Future Benefits Management Inc, announced earlier this week.
Demers Insurance, sold by owner Guy Demers, will operate as a division of Lloyd Sadd Insurance, a Navacord founding broker.
Navacord, a Toronto-based commercial broker, in 2018 undertook a management-led buyout of its minority partner with the support of U.S. private equity firm Madison Dearborn Partners (MDP).
Navacord acquires Demers’ Insurance Ltd.
Acquisition expands Navacord’s Northern Alberta presence
Toronto, ON (June 6, 2019) – Navacord Corp. is pleased to announce the addition of Bonnyville-based Demers Insurance Ltd., effective June 3, 2019.
Proudly serving Bonnyville and the surrounding community since 1978, Demers’ Insurance will operate as a division of Lloyd Sadd Insurance, a founding broker of Navacord. Guy Demers, Owner of Demers Insurance says, “I am thrilled with the decision to join Navacord. They have made an investment in Demers, Bonnyville and our local team which means our clients still receive great service but now we can offer more capabilities, products and market access.”
Navacord was created in 2014 to challenge the M&A environment changing the insurance landscape by offering a unique brokerage ownership model that allows the entrepreneurial spirit to thrive without losing identities to larger firms. Navacord is committed to preserving the culture and client experience of our Broker Partners while building on the deeply rooted, long-standing business relationships of our trusted advisors who are making a difference in the communities they serve.
“We are excited to have presence in Northern Alberta through Demers’ Insurance. It formalizes a strategic relationship that’s been in place between Lloyd Sadd and Demers and now enables further opportunities for growth,” said T. Marshall Sadd, Navacord Executive Chairman.
Headquartered in Toronto, Navacord’s group of companies include thirteen Broker Partners across Canada and one Managing General Agent. Offering risk management and consulting solutions, Navacord is committed to the success of their clients and delivering expert advice in an increasingly complex world. Broker Partners deliver local, personalized service to their clients while being supported by the additional expertise, resources and efficiencies of a national brokerage. Navacord is the preferred partner for entrepreneurial insurance brokerages seeking to collaborate and grow while maintaining their unique identity and culture. For more information, please visit navacord.com.
About Demers’ Insurance
Proudly serving Bonnyville and the greater community since 1978, Demers’ Insurance Ltd. is dedicated to providing the highest level of personal service to their clients. Literally located on the main street in Bonnyville, Demers looks forward to delivering peace of mind, and now more capabilities, as a division of Lloyd Sadd Insurance Brokers, a Navacord Broker Partner.