Navacord boosts MGA presence with new partner
Navacord boosts MGA presence with new partner | Insurance Business Canada
Insurance News
Navacord boosts MGA presence with new partner
The deal will expand its underwriting solutions practice
Insurance News
By
Mika Pangilinan
Navacord has moved to expand its underwriting solutions practice by partnering with Unity Managing Underwriters.
Unity Managing Underwriters specializes in creditor, life, disability, and extended warranty coverages for personal and commercial vehicles. The firm is based in Toronto, serving clients in the financial sector and automotive dealerships.
A press release announcing the partnership said the move is aligned with Navacord’s ongoing commitment to boosting its MGA presence and expertise.
Navacord began focusing on its growth within the MGA space when it formed its underwriting solutions department in 2022.
“Our partnership with Unity Managing Underwriters is another step towards ensuring Navacord Broker Partners have access to best-in-class placements and products for their clients within our many industry sectors,” said executive chairman T. Marshall Sadd.
“We welcome Unity to the Navacord network and we’re enthusiastic about the amplification they’ll bring for our MGA presence and transportation expertise.”
Tony Guarini, vice president at Unity Managing Underwriters, said the move will help enrich their product development and expand the company’s “dynamic business mindset and model.”
“Navacord’s well-established presence in the automotive space will lend well to our client offerings, and we look forward to further developing their MGA roster as well,” Guarini said.
Henderson Insurance, Hoffman Kool Insurance, and Life Line Brokers will merge under one brand, HK Henderson.
The three brokerages will join up in November, with five locations in Saskatoon, Regina, and Moose Jaw. Henderson’s David Reidy has been named HK Henderson president and CEO, while Hoffman Kool’s Darryn Knibbs has been tapped to serve as chairman of the merged firm.
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