Canadian Broker Network and its member Synex announce acquisition of Invessa

Toronto, ON (Jan. 14, 2021) – Lorie Phair, President of the Canadian Broker Network (CBN), Canada’s leading network of independent insurance brokers, is pleased to announce that CBN and its Member Acquisition Partner, Synex Group Services, has completed the acquisition of Invessa, a leading independent damage insurance brokerage firm located in Laval, Quebec.

Invessa is the culmination of over 50 years of experience with 70 employees and $50 million in premium.

This latest acquisition brings the acquisition group’s total volume to $200 million in premium.

“We are proud to include Invessa in the CBN/Synex organization and look forward to a promising future together,” said Yan Charbonneau, President of Synex Group Services. “This acquisition advances our strategy of providing a Canadian made solution for brokerages looking for a partnership or succession solution that looks after the business and their people.”

About Invessa

Invessa is one of the largest brokerage firms in Quebec specializing in personalized auto and home insurance products as well as meeting the complex insurance and risk management needs of SME’s of all sizes. Their commitment to unparalleled service and their alliances in various countries such as the United States and France allows them to provide customized solutions that put the client first. Most recently, Invessa won the Kealy Award from Vertafore for excellence in technology.

About the Canadian Broker Network

The Canadian Broker Network is an alliance of leading independent insurance brokerages representing more than $1 billion in property casualty premiums as well as employee benefits and life and financial services, with over 50 offices across Canada and more than 1,500 employees. We give independent, employee-owned brokerages a unique way to grow and innovate their businesses by leveraging the collective wisdom, experience, and connections of our members.

Maturing out of a forum dating back to 2002, originally designed to exchange best practices, CBN’s guiding principles of innovation, collaboration, commitment to growth, and independence ensures that members can deliver the best possible value proposition to their clients, employees, and insurer partners.

Fiercely independent & proudly Canadian. For more information on CBN, including a list of our members, please visit canadianbrokernetwork.com.

SOURCE: Canadian Broker Network

Tags: