Navacord announced on May 8 that it has acquired SécuriGlobe assurance voyage from Blue Cross Canassurance. The deal became effective April 1.

The brokerage consolidator calls this acquisition “its most substantial travel partnership to date.”  

Founded in 1999 and headquartered in Montreal, SécuriGlobe assurance voyage is “one of the largest and premier travel insurance brokers in Canada,” says Navacord in its press release announcing the deal, adding that acquiring SécuriGlobe enables Navacord to double the size of its travel portfolio “while also expanding its presence in Quebec.” 

Blue Cross Canassurance acquired SécuriGlobe in 2021 from La Capitale (now Beneva since its merger with SSQ). La Capitale bought the firm in 2014.

Navacord’s announcement adds that SécuriGlobe, which caters mainly to Snowbird travellers, also has a specialty in providing products for visitors to Canada and emergency medical.  

A pivotal moment 

“Joining forces with SécuriGlobe is a pivotal moment for Navacord as we enhance our travel offerings with a distinguished leader in the travel sector,” stated Melanie Muise, President of Personal Lines and Travel, Navacord. “This partnership not only grows our travel portfolio; it also underscores our commitment to growth in this space, which we are actively pursuing.”  

Muise, who was appointed to her position last August, is heading Navacord’s strategy to expand its national expertise and presence in personal and travel insurance. The acquisition of SécuriGlobe “serves as a tangible step forward” in this growth strategy. says the company.   

A spokesperson for Navacord told Insurance Portal that SécuriGlobe’s management and staff will all be staying in place with the head of SecuriGlobe. Sylvain Lamanque, will remain on as Senior Vice President, SécuriGlobe, reporting to Muise. 

Broadening its reach 

“As Navacord continues to broaden our reach across different niches and regions, the addition of SécuriGlobe positions us well for further geographic expansion and product diversification,” stated Shawn DeSantis, President and CEO, Navacord.  

Sylvain Charbonneau, President and CEO of Blue Cross Canassurance, added, “Navacord’s commitment to the brokerage business combined with their demonstrated progression and scale, as well as the opportunity to reinforce our existing partnership is what made Navacord the ideal destination for SécuriGlobe in our respective long-term growth journey.”  

This deal marks Navacord’s sixth acquisition of 2024. The company completed 22 acquisitions in 2023.