Synex enters Ontario with its new strategic partner Palladium Insurance
22 March 2022
Palladium Insurance (“Palladium”), a brokerage offering commercial and personal lines insurance, life, employee group benefits and financial services, is pleased to announce a strategic partnership with Synex Business Performance (“Synex” or “the group”).
The partnership between Palladium and Synex is an unprecedented strategic one as it is the first brokerage in Ontario. Synex’s first objective is to stimulate and enhance available resources and services. Palladium is already a well established, highly respected and growing brokerage in Ontario with 50 employees and 4 offices in the Ottawa and the valley.
“In an ever-changing marketplace, we were seeking a capitalized partner for strategic acquisitions and to continue our unique growth initiatives, while maintaining our continued independence within the broker distribution channel which is now dominated by insurance company owned consolidators. “ Sylvie Forget Swim, partner & CEO of Palladium Insurance. With Palladium as partner, Synex is confirming that it is reaching its ambitions by surrounding itself with firms that have teams of great expertise. "We are very proud to be able to see our future with Palladium. They have built a strong reputation in Ontario based on their know-how and impeccable service," adds Yan Charbonneau, President and Chief Vision Officer of Synex Business Performance.
Synex Business Performance is a holding company that owns the $465 millions of premium in Synex insurance brand, and $90 millions of premium in Synex Group insurance. Synex owns 16 property & casualty and group benefits insurance brokerage firms across Canada. Synex Business Performance's vision is to become a leader in Canada’s insurance distribution market through organic growth and acquisitions. Preserving entrepreneurial independence and employee ownership within each of our agencies is of paramount importance to us. Synex is proud to be an Executive Member of the Canadian Broker Network, an alliance of independent, employee-owned insurance brokers that share best practices and connections to help member-partners innovate, grow and succeed.
About Palladium Insurance inc.
Palladium Insurance and its growing family of community driven brokerages has roots within Ottawa and the valley that date back to 1953. As we have grown our footprint in Ottawa, across Ontario and Canada with our niche products, we have stayed true to our corporate values; independence - service excellence – growth – community involvement – team is our family. We are positioned and ready to develop and acquire brokers in Ontario that mirror our professionalism and growth aspirations, says Tim Snelling, partner & VP Business Development, with Synex as our partner we are excited to see our plans take fruition.”