Toronto, ON (Jan. 15, 2015) – Burns & Wilcox Canada, a subsidiary of Kaufman Financial Group, announced it has acquired Avec Insurance Managers, a Toronto-based managing general agent with expertise in marine, inland marine and other specialty commercial lines.
Avec will become part of Burns & Wilcox Canada, a managing general agent with offices in Toronto, Calgary, Ottawa, Halifax, St. John’s and Moncton.
“Burns & Wilcox Canada is one of our fastest growing companies and its continued success requires an influx of talent and expertise to meet the increasing needs of Canadian brokers,” said Alan Jay Kaufman, chairman, president and CEO of the Kaufman Financial Group. “Avec brings complementary products and markets to Burns & Wilcox Canada, along with an experienced team and the opportunity to serve a broader broker base.”
Avec was founded in 2004 by a group of Canadian insurance specialists. The company has expanded into western Canada to support the region’s growing marine and energy industries.
Four of the original partners – Stephen Oxley, Thomas Sampson, Patrick Barco and Martha Paz – continue to serve the company in a leadership capacity and will remain in key roles. The entire Avec team will join Burns & Wilcox Canada.
“We found the Kaufman Financial Group and Burns & Wilcox Canada to have a similar culture, with passionate and innovative professionals that share an enthusiasm for continuing education, for expanding our business and for investing in our team,” said Stephen Oxley, president of Avec Insurance Managers.
“In addition, joining Burns & Wilcox Canada will deliver new capabilities to better serve our clients and brokers in managing their global transactions,” added Oxley.
About Burns & Wilcox
Burns & Wilcox with Burns & Wilcox Canada has grown to become North America’s largest independently owned wholesale broker, with more than 40 offices spanning the continent. An autonomous entity not beholden to Wall Street, private equity or any financial institutions, Burns & Wilcox is a privately owned company whose standards of service and depth of underwriting and management talent are unsurpassed in the specialty insurance sector.
Today Burns & Wilcox and Burns & Wilcox Canada are proud to access a trusted and expansive network of domestic and international insurance carriers to provide creative specialty insurance solutions to thousands of professional brokers.
About Kaufman Financial Group
At Kaufman Financial Group, we are committed to providing unsurpassed service to insurance brokers, agents and carriers. Our mission is to make the lives of our broker and agent partners easier and more successful. We are fully dedicated to serving their unique challenges by providing access to coverage for difficult risks requiring innovative solutions on a regional, national, and international basis.
Nearly 1,200 dedicated professionals worldwide constitute the Kaufman Financial Group. We currently have an extensive network of 50 offices across the globe dedicated to conducting business with the highest degree of integrity. And we are still growing – both domestically and internationally. With the acquisition of the Chesterfield Group, a London-based broker, we have made our international brokerage presence even stronger by furthering our global capabilities and clout.
About Avec Insurance Managers
Avec Insurance Managers Inc. provides high-quality underwriting and claims services on behalf of our insurance partners, to their brokers, of specialty insurance products. We provide specialty insurance products and additional capacity to select Canadian brokers. We focus on providing underwriting and claims service in the following areas: Ocean marine insurance and related products; Inland marine insurance; Surplus lines Insurance; Boiler & Machinery Insurance; Commercial property insurance for brokers needing these covers in association with other specialty coverages; and Casualty Insurance. We offer products supporting the Marine, Transportation, Construction, Manufacturing, Energy, Agriculture, and Communications industries.
SOURCE: Burns & Wilcox Canada
Tags: Acquisition, Burns & Wilcox
