Navacord launches disruptive solution for energy and power industries with Navasure Structured Surety Solutions
With acquisition, Navacord establishes group benefits and retirement consulting presence in Western Canada
Toronto, ON (July 4, 2019) – Navacord Corp. continues to fuel their entrepreneurial spirit with the launch of Navasure Structured Surety Solutions, Canada’s only provider of innovative structured surety solutions for the energy and power industries, effective July 8, 2019.
Navasure will operate as a division of Calgary-based Iridium Risk Services, a leading provider of risk management advice and insurance solutions to the energy industry. Created to meet the needs of energy and power companies affected by pricing instability and limited capital, Navasure offers structured surety products as an alternative to contractual collateral posting requirements such as letters of credit which tie up valuable liquidity.
“Navasure is the perfect complement to the expertise and service we currently offer our clients,“ said Roger Swierstra, Iridium CEO. “We found energy companies are ready for a change that provides increased financial capacity at lower cost. We are pleased to be Canada’s first company to offer dedicated professionals with extensive knowledge and appreciation of energy and power operations combined with a deep understanding of every aspect of on-demand surety products.”
“Navasure is a great example of the entrepreneurial spirit that makes up the DNA of Navacord companies,” said T. Marshall Sadd, Navacord Executive Chairman. “We are offering energy and power clients a solution that addresses a challenge to their growth, and leverages Navasure’s expertise in financial risk, transactional experience and industry knowledge.”
About Navacord
Navacord is one of the top five commercial brokers in Canada offering clients a holistic solution that addresses their business, personal and employee needs. Founded in 2014 Navacord has a proven track record of growth with over $120 million in revenue at the end of 2018 and five Broker Partner announcements to date in 2019. Navacord continues on their journey to becoming a great Canadian Brokerage.
Headquartered in Toronto, Navacord’s group of companies include thirteen Broker Partners across Canada and one Managing General Agent. Offering risk management and consulting solutions, Navacord is committed to the success of their clients and delivering expert advice in an increasingly complex world. Broker Partners deliver local, personalized service to their clients while being supported by the additional expertise, resources and efficiencies of a national brokerage.
For more information, please visit navacord.com.
About Iridium Risk Services
Iridium is an industry leader in providing risk management advice and insurance solutions to companies operating in the energy, industrial and technology sectors. Iridium is a member of the Navacord group of companies.
SOURCE: Navacord
Tags: launch, Navacord, Surety Read the original article at Insurance-Canada.ca