Archway Insurance has purchased Halifax insurance broker SNC.
AMHERST – An Amherst insurance broker is set to grow with the purchase of a Halifax company.
Archway Insurance, one of Atlantic Canada’s largest independently-owned insurance brokerages, is purchasing SNC through the acquisition of all their outstanding shares.
“The addition of the SNC office dramatically increases our presence in the HRM market,” says Archway vice-president Michael Stack. “Archway and SNC have been strategic business partners for a number of years, and our brokerages share very similar values and goals.”
The acquisition of SNC brings the total number of Archway locations to nine – spanning the distance from Yarmouth to Miramichi, N.B.
Over the past decade, Archway has purchased 15 brokerages across Nova Scotia and New Brunswick, quietly amassing a substantial presence and market share. The deal with SNC is Archway’s single, largest brokerage purchase. It secures Archway’s position as one of the leading brokerages in the Maritimes.
SNC President Stewart Hay will work as a consultant with Archway, providing continuity for clients, and sharing his commercial expertise.
SNC CEO Carolyn James will stay on temporarily to assist with the management transition from SNC to Archway.
“My partner Carolyn and I take a great deal of pride in operating as an independent brokerage that works on behalf of our clients, not an insurance company or bank,” says Hay. “We have a great deal of respect for the Stack family, and know that our clients will continue to receive the same level of professional service and choice with Archway.”
Located on Herring Cove Road in Halifax, SNC Insurance offers insurance services for individuals, organizations, and entrepreneurs.
Prior to 2006, the brokerage operated as K N Umlah Insurance Agency Limited.
In total, SNC has been serving clients in the Maritimes for more than 28 years.
Last week, SNC was recognized as Insurance Brokerage of the Year by the Insurance Brokers Association of Nova Scotia.
Archway Insurance is an Atlantic-owned, independent insurance brokerage, and one of the largest in the region. Just last month, Archway Insurance was named the CAFE Nova Scotia Family Enterprise of the Year.