Western Financial has bought BC Yacht Insurance Brokers (BC Yacht), Sidney's only specialized marine insurance brokerage for an undisclosed sum.
With the acquisition of Sidney headquartered BC Yacht, Western Financial has acquired two firms on Vancouver Island this year, the acquirer said.
BC Yacht founder and owner Robert (Bob) Raymond said the company has developed specialized expertise and underwriting agreements with respect to watercraft and marine insurance which will help to expanding Western’s network.
"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," Raymond added.
According to the firm, the Sidney office, now under the Western Financial Group banner, will continue to operate with specialized watercraft and marine insurance products.
The combination of two businesses will enable BC Yacht’s customers to benefit from the wide range of insurance products offered by Western such as home, auto, life, business, farm and specialty insurance products.
Western Financial serves more than 600,000 customers and offers insurance, banking and investment products and services through more than 120 office locations.