Another major brokerage firm is changing hands in the Atlantic region.

After Synex acquired GoToInsure in March, Archway Insurance was bought by BrokerLink, a subsidiary of Intact Financial Corporation.

This transaction will double BrokerLink's size in the Atlantic region. The brokerage will have 65 branches in Atlantic Canada and more than 400 employees. BrokerLink employs more than 3,000 people across the country in 200 locations.

The transaction also includes Archway's subsidiaries Upstairs Finance Inc. and C.D. Anderson Insurance Ltd. Archway is active in New Brunswick and Nova Scotia.

Other acquisitions  

BrokerLink also announced in early August that it had acquired three other firms. One is Doug Honeyford Insurance, based in Sudbury, Ontario. Another is Lakeside Insurance, based in Sylvan Lake, Alberta. The last is Archway subsidiary South Coast Insurance Agency Limited, based in Newfoundland.

BrokerLink also says it has invested and expanded into more than 20 Ontario communities over the past twelve months, with acquisitions that include:

  • John F. Smith Insurance Brokers (1982) Inc.  
  • J.G. Rivet Brokers Limited 
  • R.L. Gougeon Limited  
  • Cambrian Insurance Brokers Limited  
  • Lackner McLennan Insurance Ltd.   

The company also made four acquisitions in Alberta during the same period:

  • All City Insurance Ltd. 
  • Air-Alta Insurance (Airdrie) Ltd.  
  • Center Street Insurance Inc.  
  • Gold Key Insurance Ltd.   
On the lookout  

BrokerLink president Joe D'Annunzio commented on the acquisitions by saying his firm is committed to being a “strong investor” and “contributor to the dynamic communities” where the brokerage does business. “We are always willing to speak with broker principals who are considering future options for their brokerage – it’s not an easy decision to make, but our model is such that we align with brokerages that share our values, which includes a commitment to providing outstanding customer service,” he says.

In a recent conference call with financial analysts, Charles Brindamour, CEO of Intact Financial Corporation, said he would like to see BrokerLink’s volume double within five years. At June 30, 2021, BrokerLink's premium volume was $2.3 billion.

Since the beginning of 2021, BrokerLink has closed 12 acquisitions, the firm told The Insurance Portal.