Synex now coast to coast with the acquisition of the majority of shares of Sharp Insurance
7 April 2021
Synex Business Performance (“Synex” or the “Group”) is proud to announce its majority acquisition of Alberta-based independent insurance brokerage, Sharp Insurance. Completed as of April 1, 2021, this transaction adds a premium volume of $75 million to the Group.
Since its inception in 2009, Sharp Insurance witnessed rapid growth through the use of digital technology and niche business development partnerships. As one of the most forward-thinking brokerages in Canada, Sharp Insurance continues to garner accolades and industry awards.
“Sharp is a game-changing transaction for Synex as it is the second instance of the CBN perpetuating one of its members. It's also a clear statement of our dedication to create the next generation digital platform for independent brokers.” States Yan Charbonneau, President and CEO of Synex.
“I have decided to sell Sharp Insurance to Synex, an independent brokerage with a record of unprecedented growth, as well as a member of the CBN.” States Sherif, “It’s important that we work together to elevate the broker channel, and the best way I can do that is by stepping back from the insurance side of things and focusing exclusively on digitizing the broker channel.”
Synex Business Performance owns the Synex Assurance brand, consisting of nine property and casualty insurance firms in Canada. These are Couture Rochette & Associés, Deslauriers & Associés, Deslauriers Assurances, Renaud Assurances et Gestion de risques, Invessa, Girard Tremblay et Associés Inc., A-Kan Insurance, Go To Insure and Sharp Insurance. Synex has a total premium volume of $360 million in Québec, Alberta and the Atlantic provinces. Synex is also an executive member of the Canadian Broker Network (CBN).
About Sharp Insurance
Since its inception in 2009, Sharp Insurance has grown from a two-person business into an award-winning brokerage employing more than 100 highly-trained industry experts. Today, Sharp is one of the fastest growing insurance brokerages in Alberta and has been recognized as Canada’s number one brokerage by Insurance Business Magazine.
Synex Business Performance’s vision is to become an independent leader in property and casualty insurance, personal insurance and financial services in Canada through organic growth and acquisition.
Restoring independence to entrepreneurs across Canada and maintaining ownership in each of our divisions are key elements for Synex Business Performance. We believe in local entrepreneurship and the strength of a pan-Canadian group for the benefit of each of our clients.