Navacord announced May 22 that it has acquired Navis Marine Insurance Brokers of British Columbia, a 100 per cent privately owned brokerage providing solutions to recreational and commercial boaters, marina operators, manufacturers, dealers and cargo transporters.

T. Marshall Sadd, executive chairman of Navacord says “the addition of Navis to the Navacord group underscores our strategic focus on expanding our specialty lines.” He adds that the company looks forward to distributing the firms’ solutions across Canada. 

“Founded in 2011 after seeking to fill a gap in the BC market for a specialty marine insurance provider, Navis has now grown to be a leading national marine broker based in Vancouver,” Navacord announced in a statement about the acquisition. “As a Lloyd’s cover holder, Navis brings a strong presence in the London market alongside their expertise in insurance solutions for both commercial vessel owners and recreational boaters.” The firm is also involved in the general personal and commercial lines business.

Navis’ president and CEO, Paul Mendham says the deal gives the brokerage a “safe harbour” opportunity to refine its expertise while also opening the door to expansion. Navacord says the deal also expands the company’s presence in the western province. It is the ninth acquisition for the firm in 2024.