PerformINS Canada Inc. and PanFinancial Insurance Agencies

PerformINS Canada Inc. and PanFinancial Insurance Agencies

January 26, 2007 11:38 ET

PanFinancial to merge with Performins Canada

PanFinancial Insurance Agencies to merge Managing General Agencies with consolidator Performins Canada

Attention: Business/Financial Editor TORONTO,ONTARIO MEDIA ADIVSORY--(CCNMatthews - Jan. 26, 2007) - Toronto
January 25, 2007

Performins Canada and PanFinancial Insurance Agencies announced today that the board of directors of both companies have unanimously agreed to a purchase and sale agreement that will see PanFinancial Insurance Agencies MGA Operations become part of the Performins Canada Group of Companies. Under this new agreement, Performins Canada, among the leading players in the consolidation of MGAs, will be well positioned to continue to attract quality organizations looking for capital and technology to compliment their sales and marketing initiatives.

PanFinancial Insurance Agencies was formed 22 years ago. The firm offers advice and products, to serve the needs of their high income, high net worth clients. Performins Canada Inc. is a well financed consolidator of Canadian MGAs. Performins's strategic plan is to complete the consolidation of ten MGAs across Canada over the next two years. PanFinancial MGA Operations is the fifth MGA that has become part of the Performins group of companies.

"We are very excited about including PanFinancial Insurance Agencies in our organization. We are confident that the product and concept development capabilities of PanFinancial when combined with Performins's distribution will make the merger of our companies an enormous success. PanFinancial Insurance Agencies is well known in the MGA community and has a fine reputation for working in the affluent and advanced markets delivering WealthCare solutions in the high net worth/high income entrepreneurial marketplace. Their expertise and commitment to excellence can only help strengthen our organization," says Bruce Hammond, President & CEO of Performins Canada. He added, "This is an exciting step for Performins".

Gord Berger, President of PanFinancial Insurance Agencies said, "We believe that this merger will add a new dimension to Performins. We have a great deal of successful experience in the development of financial concepts for affluent clients. We have been successful in this market for a long time and know how to help other Performins advisors become involved in this attractive, upscale market. Our expertise will provide a seamless strategy of integrated financial concepts delivered in a way that combines the finest possible products with opportunities for wealth maximization."

Gordon Berger is a Life and Qualifying member of the "TOT" (Top of the Table) awarded to only a few exceptional producers worldwide. Gordon is an often heard financial specialist on a great number of television and radio programs. He is also an author of a number of books on wealth management and an accomplished speaker at industry functions and seminars. He has also guest lectured at various institutions including the Schulich School of Business, U of T Business School and York University.

He added, "the merging of our back offices and the synergies involved was just the icing on the cake for this transaction."

Hammond adds, "We've made a commitment to continue the PanFinancial Insurance Agencies brand. We admire the "high end" reputation of PanFinancial. It certainly makes this merger a sound decision."

Gordon Berger, President and Bob Kirk Vice President of PanFinancial Insurance Agencies have agreed to continue with their Wealth Creator Team as part, of the Performins group.

Bob Kirk, Vice President of PanFinancial adds, "Joining Performins keeps us at the forefront. We will be able to focus on our clients and their need while leaving the administration to a company that excels in that part of the business. We will continue to grow our business with added synergies and integrated resources. We look forward to enabling the Performins distribution network to access new client markets with innovative solutions to their client needs thereby increasing their opportunities for income and sales growth."

Bob has held a number of senior executive positions with some of Canada's largest insurance companies over the past 25 years. Bob received his bachelor's degree from McMaster University, is a Fellow, Life Management Institute, Associate, Customer Service and has been an active member of a number of industry associations, as well as a published author and an industry speaker.

Bruce Hammond, President of Performins Canada, emphasized that Performins has been designed to help provide MGAs with the support necessary to run an efficient and effective back office platform. "MGA owners can get back to sales and marketing support", he said. "They are great recruiters, motivators, and case support providers. Our platform allows them to focus on marketing, which is their strength"
/For further information: Bruce Hammond, CEO
Performins Canada Inc.
631 Weyburn Sq.
Pickering, Ont.
L1V 3V3
Ph: 905-420-5079
Fax: 905-420-6681
Email: bhammond@Performins.com

or

Gord Berger, Principal
PanFinancial Insurance Agencies
265 Yorkland Blvd.
Suite 401
Toronto Ontario
M2J 1S5
Ph: 416-499-4222
Fax: 416-499-6540
Email: gberger@panfinancial.com
/ IN: FINANCE

Contact Information

  • Bruce Hammond, President & CEO, PerformINS Canada Inc.
    Primary Phone: 905-420-5079
    Secondary Phone: 416-627-3502