Ontario, Canada (CU)_ Navacord, one of Canada’s largest commercial insurance brokerages, announced the acquisition of Stone Insurance Brokers. Stone Insurance Brokers was established in 1988 and is a third-generation, family-owned commercial brokerage located in Manning, Alberta.
The insurer services clients throughout Northern Alberta and British Columbia, focussing on forestry, agricultural, transportation, and oil and gas. The firm is well-known for its in-depth knowledge and expertise in the areas that drive regional growth, and has developed a reputation for offering reliable advice and customized service.
Daken Soroka, president and CEO of Stone Insurance Brokers, expressed hopes over the acquisition. He stated that the collaboration with Navacord enables the brokerage to retain its family name and established brand while gaining access to additional markets and Navacord’s national resources, enabling the brokerage to provide superior service to clients and transition to the next phase of growth.
Soroka expressed confidence in Navacord’s system and services. He said, “Navacord provides an ideal structure that is unique in the industry, which allows us to enhance what we’ve built in our market while supporting the development of our team, clients, and business”. T. Marshall Sadd, executive chairman of Navacord, stated that the acquisition of Stone Insurance Brokers proves that Navacord’s strategy continues to connect with insurance industry and national leaders. Sadd added, “We look forward to supporting them in their growth journey and for generations to come”.
Navacord, the current fourth largest commercial brokerage of Canada, continues to develop organically and via collaborations with high-performing, entrepreneurial brokers, especially with Group Lockhart, PGI Financial, and Maritime Group Benefits.
