Archway Insurance Closing Largest Atlantic M&A Insurance Deal for 2019
28 June 2019: Archway Insurance, one of Atlantic Canada’s largest and fastest growing insurance brokerages, will nearly double its footprint in New Brunswick following a mega-deal to acquire three brokerages and seven new offices across the province, effective July 1, 2019.
Through the purchase of Shaw Insurance Agency Ltd., Solutions Assurances 360° Inc. and J. & N. Assurances Ltée., Archway will welcome employees from seven locations and a client base representing close to $20M in premium volume. Combined, the deal represents the largest M&A deal within the region this year.
“It’s exciting to see Archway Insurance continue to grow throughout the province of New Brunswick and enter new communities,” says Archway Insurance President Gina McFetridge. “This acquisition will add significant value to the acquired brokerages through increased expertise and choice in commercial, personal, group benefits, and life insurance options for existing and future clients.”
Five of the seven locations are in new communities. Over time, the plan will be to bring employees and offices together in Grand Falls and Edmundston where Archway already has offices. Former owner Andrew Page will join Archway Insurance, with the other ownership group exiting to pursue other opportunities.
“I’m excited to become a part of the Archway Insurance team and look forward to helping employees have a successful transition to the new company,” says Page. “Archway has an excellent reputation and I know our clients and employees will be in good hands under the strength and leadership of this expanding brokerage.”
This deal is the third acquisition announcement for Archway this year, and the second in New Brunswick. Earlier this spring they added Hall & Fairweather in Saint John and George Mitchell Insurance in Liverpool.
Archway Insurance is an Atlantic-owned, independent insurance brokerage, and one of the largest in the region. Headquartered in Amherst, this latest acquisition brings the number of Archway locations to 31 with approximately 200 employees, 70,000 clients, and $135 Million in premium volume.
– ENDS –
President, Archway Insurance
Co-Owner, Shaw Insurance Group
NOTES TO EDITORS:
Archway Insurance is an Atlantic-owned, independent insurance brokerage, and one of the largest in the region. Headquartered in Amherst, NS, it is a growing, progressive company with more than 190 employees at 31 conveniently located offices.
At Archway, we are committed to providing our clients with professional advice and excellent personal service. Our brokers are professionally trained with extensive knowledge in the areas of personal, business, group, and life insurance. In 2017 Archway received the Markel Award for Big Brokerage of the Year.
For further information about Archway, please visit our website archwayinsurance.ca.
About Shaw Insurance Group
We understand that each individual and business we work with has unique insurance demands and we are here to meet them with comprehensive policies backed by exceptional customer service.
Based on the principles of family, tradition, trust and community, Shaw Insurance Group has proudly served our clients in New Brunswick since 1953. We are your source for lower prices and high-quality coverage. We get to know you on a first-name basis and believe in offering a level of personalized service that is unique to our industry. Our brokers look forward to serving you.
For further information about Shaw Insurance Group, please visit our website www.shawinsurancegroup.ca.