Kaufman Financial Acquires Canadian MGA Avec Insurance Managers

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,” he continued.

Source: Burns & Wilcox Canada

Topics Mergers & Acquisitions Agencies Insurance Wholesale Canada