Western Financial Group Acquires BC Yacht Insurance Brokers
Jul 24, 2012
(News Release) VICTORIA — Western Financial Group announced today the July 1st acquisition of BC Yacht Insurance Brokers Inc., Sidney’s only specialized marine insurance brokerage. BC Yacht is headquartered in Sidney, B.C. and is Western Financial Group’s second acquisition on Vancouver Island this year.
“We have developed specialized expertise and underwriting agreements with respect to watercraft and marine insurance which we will now bring to Western's expanding network,” said Robert (Bob) Raymond, founder and owner of BC Yacht. “This allows us to continue strongly growing our business right here in Sidney, and it means we can offer our excellent products and services right across Western Canada."
BC Yacht was founded in 2006 when Bob Raymond, an experienced yachtsman, decided to sell his general insurance brokerage and primarily pursue specialized watercraft and marine insurance. The Sidney office, now under the Western Financial Group banner, will continue to operate with the same staff out of its location at 105- 2506 Beacon Avenue.
Western will expand BC Yacht’s reach to customers across Western Canada. BC Yacht’s customers will, over time, have access to the wide range of insurance products Western provides, including home, auto, life, business, farm and specialty insurance products.
“This is a great fit for Western and for BC Yacht,” said Scott Tannas, president and CEO of Western Financial Group, a western-Canada-based, diversified, financial services company serving more than 600,000 customers. Founded in 1996 and headquartered in High River, Alberta, Western provides insurance, banking and investment products and services through more than 120 office locations, the Internet, and other distribution channels.
“Gaining BC Yacht’s expertise in watercraft insurance will immediately benefit our customers and brokers across our network,” adds Tannas.