Toronto-based commercial insurance broker Navacord Corp. has expanded its benefits business with the purchase of B.C.-based broker Dehoney Financial Group (DFG).
Dehoney Financial Group has grown from modest beginnings 40 years ago to become a significant independent benefits broker in British Columbia, providing a complete portfolio of corporate solutions, including benefit and retirement consulting, administration and life insurance products for executives and employees. The broker services a mix of public and privately owned companies across all major sectors of the Canadian economy.
“Strong leaders and builders like Dehoney Financial Group represent the type of brokers that Navacord attracts and chooses to partner with as we continue our journey to build the great Canadian brokerage,” says T. Marshall Sadd, executive chairman of Navacord. “Our unique model allows them to continue their legacy while building a next-generation management team to take the company into the future.”
With a strong national presence in P&C insurance, this partnership now also extends Navacord’s reach in group benefits—an identified strategic growth area for the brokerage.
“Dehoney Financial Group is a well-known, respected consulting firm on the West Coast and beyond with a team that collectively brings over 150 years of experience in benefit and retirement consulting,” said Shawn DeSantis, Navacord president and CEO. “We are pleased to welcome DFG and look forward to working together as we continue our focus on this priority growth area.”
