Navacord doubles travel portfolio via broker deal

Navacord doubles travel portfolio via broker deal | Insurance Business Canada

Travel

Navacord doubles travel portfolio via broker deal

The acquisition is a key part of its growth plan

Travel

By
Terry Gangcuangco

Navacord has expanded its portfolio by acquiring Canadian travel insurance broker SécuriGlobe assurance voyage. The acquisition doubles the size of Navacord’s travel insurance book and broadens its footprint in Quebec.

Established in 1999 and based in Montreal, SécuriGlobe assurance voyage is a major distributor of travel protection and health insurance solutions in the country.

“Joining forces with SécuriGlobe is a pivotal moment for Navacord as we enhance our travel offerings with a distinguished leader in the travel sector,” noted Melanie Muise (pictured), president of personal lines and travel at Navacord.

“This partnership not only grows our travel portfolio; it also underscores our commitment to growth in this space, which we are actively pursuing.”

Muise, who became president of personal lines and travel last August, has been at the forefront of expanding Navacord’s national expertise and presence in personal and travel insurance. The integration of SécuriGlobe is said to be a key component of the company’s growth plan.

“As Navacord continues to broaden our reach across different niches and regions, the addition of SécuriGlobe positions us well for further geographic expansion and product diversification,” Navacord president and chief executive Shawn DeSantis added.

Sylvain Charbonneau, president and CEO of Blue Cross Canassurance – from which SécuriGlobe is transitioning – commented: “We are highly confident that this transaction will bring continued success for SécuriGlobe and strengthen the value proposition for its customers.

“Navacord’s commitment to the brokerage business combined with their demonstrated progression and scale, as well as the opportunity to reinforce our existing partnership is what made Navacord the ideal destination for SécuriGlobe in our respective long-term growth journey.”

What do you think about this story? Share your thoughts in the comments below.