Navacord Corp. has acquired Winnipeg-based Avant Insurance. The transaction, which became effective Feb. 1., was announced by Navacord on Feb. 28.
In a statement, Navacord called the deal “a pivotal step” in its broader expansion plan within Manitoba.” This is Navacord’s third brokerage acquisition in the province.
Avant Insurance, in operation since 2016, specializes in both personal and commercial lines insurance and has three offices.
“Our collaboration is a testament to Navacord’s commitment to building strategic partnerships in Manitoba, reinforcing our focus on talent acquisition and alliances with businesses that share our vision as Canada’s third largest commercial insurance brokerage," stated Shawn DeSantis, President and CEO, Navacord.
Cole Leitch, President and CEO at Avant Insurance, will be staying on with the firm. “We are confident that being part of Navacord will open up new opportunities for growth and innovation, allowing us to continue providing exceptional service to our clients," stated Leitch.
This acquisition is Navacord’s first of the year. The brokerage consolidator previously told Insurance Portal that it purchased a total of 22 brokerages in 2023.
