Burns & Wilcox Canada acquires Avec Insurance Managers
Reprints
Managing general agent Burns & Wilcox Canada Inc., a unit of Kaufman Financial Group, has acquired Toronto-based MGA Avec Insurance Managers Inc.
A spokesman for Burns & Wilcox said terms of the deal were not disclosed.
Avec specializes in ocean marine, inland marine and other specialty commercial lines, Kaufman Financial said in a statement.
As part of the acquisition, Avec President Stephen Oxley and his entire team will join Burns & Wilcox Canada, eventually moving into the firm’s Toronto-based headquarters, according to the statement.
Mr. Oxley and his original partners, Thomas Sampson, Patrick Barco and Martha Paz, will remain in leadership roles, reporting to Jodie Kaufman Davis, the director of Burns & Wilcox Canada, the spokesman said.
“Avec brings complementary products and markets to Burns & Wilcox Canada, along with an experienced team and the opportunity to serve a broader broker base,” Alan Jay Kaufman, Kaufman Financial president and CEO, said in the statement.
Read Next
-
AIG to pay $279,038 over Canadian subsidiaries selling Cuban coverage
American International Group Inc., has agreed to pay $279,038 to settle charges that it violated sanctions against Cuba by selling policies that insured Cuban risks, according to enforcement documents filed by the Office of Foreign Assets Control Thursday.
Related Stories
-
AIG to pay $279,038 over Canadian subsidiaries selling Cuban coverage
-
Arthur J. Gallagher to buy Canadian broker Noraxis for $388 million
