ICBA Benefit Services Ltd. has acquired Calgary-based Nexgen Advisory Group as part of a plan to grow its benefits brokerage and third-party administration business and expand in markets outside of British Columbia.
The acquisition enhances ICBA Benefits’ product and service offerings, expands its client base in Alberta, and adds significant talent to ICBA’s business development team.
ICBA Benefits, a wholly owned subsidiary of the Independent Contractors and Businesses Association, is a leading third-party provider of group health and retirement benefits in B.C.
“ICBA Benefits has long been one of the largest independent providers of group health and retirement benefits in B.C. and now we are taking that successful formula in a more deliberate way to markets outside of BC,” said Chris Gardner, ICBA president. “Our third-party administration business recently landed significant blocks of business in Saskatchewan, Manitoba, Ontario and Nova Scotia, and we are excited to add Nexgen and Alberta to our team.”
ICBA Benefits plans to keep the Nexgen brand and grow the Calgary office, with Nexgen’s David Harstrom taking on the role of ICBA Benefits’ vice president, underwriting and consulting.
“Joining with ICBA Benefits gives our Nexgen clients a whole new level of service and value,” said Harstrom. “I am pleased we are joining a company with a great history of supporting their clients and partners and finding innovative ways to meet their group health and retirement benefits needs.”
Harstrom will work closely with ICBA’s underwriting, operations and account management teams as the company rolls out new products and services and grows business in key markets.
“We are thrilled to have David and his team join ICBA Benefits, bringing their experience, knowledge, insight and passionate commitment to serving their clients,” said Mark Spence, ICBA senior vice president, group health and retirement benefits. “David’s reputation of caring for clients and working hard to give them superior service, reliable and stable benefit solutions, and the best overall value possible, meshes perfectly with our philosophy at ICBA.”