Henderson Insurance has been offering commercial brokerage services in Moose Jaw for almost 60 years but will soon go by a new name after amalgamating with two other organizations.
Henderson Insurance and Saskatoon-based Hoffmann Kool Insurance and Life Line Brokers have announced they will come together as HK Henderson starting Nov. 1. They say the partnership creates one of the largest commercial brokerages in Saskatchewan and reflects “a strategic decision to scale its growth while capitalizing on common synergies.”
Henderson Insurance is a second-generation organization led by president/CEO David Reidy and has been providing customized insurance services and solutions for nearly six decades to industries such as agriculture, transportation and manufacturing. It also has expertise in construction and contract surety bonding.
With complementary areas of business focus, deep regional connections and a team of specialists sharing a common approach to client service, the trio says the amalgamation “is a natural evolution” to help clients manage rapidly evolving business risks — specifically, cyberattacks, which are immense and non-stop.
HK Henderson will have five locations in Saskatoon, Regina and Moose Jaw. Also, as a Navacord broker partner, the new organization will provide clients with access to specific products, services, contracts and coverage to meet their business needs.
All employees among the three entities will keep their jobs.
“I’m super excited about this amalgamation. The amount of opportunities for our staff and our clients and our communities is immense,” Laurie Kosior, communications director for Henderson Insurance, told the Express.
The possibility of amalgamation arose a few years ago, after Henderson Insurance joined Navacord in 2018 and increased its access to world markets, she explained. Navacord offered a decentralized model, which allowed the Moose Jaw business to retain its culture and identity.
Meanwhile, Hoffmann Kool Insurance acquired Life Line Brokers in 2018 and partnered with Navacord in 2019. Then, in 2021, Henderson Insurance announced it had acquired Regina-based Smiths Insurance and HAL Insurance.
In October 2022, the trio began the official process to join.
HK Henderson will have more locations in more communities, which will benefit clients looking to do business, while a larger brokerage means clients will have access to different markets and more options, said Kosior.
Furthermore, staff have the opportunity to pursue positions that may not even exist yet while they can move to a different community and remain with the company.
Also, communities with HK Henderson offices will benefit because employees can volunteer and donate to projects.
The three brokerages share a similar culture, values and beliefs — hence the “common synergies” — and are entrepreneurial, so they thought coming together “was a really good fit” and the timing was right, said Kosior. They also came out of the pandemic with different perspectives and realized the markets were favourable to an amalgamation.
“A lot of the folks I work with now were virtual strangers a year ago, and it’s amazing how similar we are,” she continued. “It hasn’t been a difficult process bringing these three companies together because of the similarities … and common synergies.”
One notable change clients will see is the company’s branding. The business has begun installing new signs with the new name and will update its letterhead and advertising on hockey rink boards.
Visit hendersoninsurnace.ca for more information.
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