Navacord Corp., a commercial brokerage, has acquired Binks Insurance Brokers Limited, headquartered in Ottawa.
Binks is a brokerage for high-risk commercial placements within Ottawa and its surrounding areas.
“As the third generation leading this brokerage, I am ready to take the legacy that my grandfather and father built and launch into our next stage of growth, backed by Navacord’s support,” said Harry Binks, President and CEO, Binks Insurance. “I look forward to continuing to deliver innovative solutions to the businesses and organizations we service within Ottawa and its surrounding regions, with greater access to resources and markets.”
Navacord has acquired numerous firms in recent month. It is one of Canada’s top four commercial insurance brokerages with $3 billion in premiums. It specializes in commercial and personal insurance as well as surety, employee benefits and retirement consulting.
Shawn DeSantis, President and CEO of Navacord, said he is pleased with having Binks Insurance onboard. “Their niche expertise within the dealership sector combined with their reputation and presence in Eastern Ontario will fortify our strength in Canada’s capital city.”
Binks Insurance will be supported by founding Navacord Broker Partner, Jones DesLauriers.