Farmington Hills, Mich. (January 31, 2017) – H.W. Kaufman Financial Group and Burns & Wilcox Canada announced today they have acquired the high-value homeowner’s insurance practice from Quebec-based XN Financial Services, Inc. (XN).
XN is a subsidiary of The Henner Group, one of France’s leading insurance specialists offering solutions for individuals and companies. XN is a managing general agent and provider of insurance products.
XN Canada Private Client Services’ (XN PCS) employees and products, designed specifically for the needs of high-value homeowners, will become part of Burns & Wilcox Canada, a flagship organisation of Kaufman group of companies and North America’s leading managing general agent and specialty insurance broker.
“Strategic acquisitions that complement, further strengthen, and expand our expertise into new markets is a deliberate focus,” said Alan Jay Kaufman, Chairman, President and CEO of H.W. Kaufman Financial Group. “The acquisition adds substantial value to Burns & Wilcox Canada in Quebec’s growing insurance landscape.”
The acquisition marks the expansion of Burns & Wilcox Canada into Quebec.
“Burns & Wilcox Canada is proud to open its new office in Montreal, and we welcome the talented colleagues of XN PCS to our team,” said Jodie Kaufman Davis, Corporate Vice President and Managing Director of Burns & Wilcox Canada. “The acquisition fits into our long term strategic growth plan, enhancing our personal lines capabilities in Quebec.”
“We are pleased to join such an established, trusted, and client-focused firm like Burns & Wilcox Canada,” said Carol Bolduc, Director of Relationships with Brokers of XN PCS. “Burns & Wilcox Canada can provide the diversified range of expertise, experience and services our clients demand.” Bolduc will stay on with Burns & Wilcox Canada as the Quebec Personal Lines Manager.
This marks the 15th acquisition by H.W. Kaufman Financial Group since 2010.