Definity Financial Corporation has increased its ownership interest in Ontario-based brokerage McDougall Insurance from approximately 25% to 75%, “building a broker partnership with proven M&A expertise.” The partnership is for a cash consideration of $217 million (subject to post-closing adjustments),…
Definity Financial Corporation is maintaining its goal of becoming a Top 5 insurance company through a combination of organic growth and M&A activity, Definity president and CEO Rowan Saunders suggested during a recent financial services conference. “One of the drivers…
Canada’s P&C broker and insurer channels aren’t going anywhere, but their ranks will thin and success will be determined through successful technological partnerships, the CEO of an online commercial brokerage suggested. “If you don’t bring something uniquely valuable to the…
The Insurance Brokers Association of Ontario (IBAO) announced on Monday that it is formally suspending its sponsorship partnership with Aviva Canada “for the foreseeable future.” IBAO CEO Colin Simpson argued in a media release that “Aviva continues to leverage the…
Manitoba Public Insurance (MPI) has announced a partnership with the RCMP for a joint public awareness and enforcement campaign specific to gravel roads in the province. The campaign, which began in April and is continuing into the fall, aims to…
Gore Mutual Insurance Company has announced a cyber and data response product for Canadian small businesses as well as a partnership with a global home automation company to provide flood sensors to select commercial and personal customers. Gore Mutual announced…
Rogers Insurance Ltd. announced on Tuesday that it will obtain a minority shares purchase of Megson FitzPatrick Inc. The partnership between Calgary-based Rogers Insurance and Victoria, B.C.-based Megson FitzPatrick became effective May 5, Rogers Insurance said in a press release…
DETROIT – Fiat Chrysler and Google for the first time will offer rides to the public in the self-driving vehicles they are building under an expanding partnership. The companies announced in the spring of last year that they would build…
The board of directors of the Insurance Brokers Association of New Brunswick has “voted to suspend a longstanding sponsorship partnership with Aviva Canada,” IBANB said in a release sent Wednesday. On Jan. 18, Aviva announced it is offering “team branded”…
TIPI Insurance Partners and IMI Brokerage Company have announced a partnership to create “Canada’s largest Indigenous-owned insurance agency,” providing property insurance, pension plans and group benefits designed exclusively for Indigenous people. Announced late last week, the partnership roughly doubles TIPI’s…
Tech company Veniam has signed its first-ever collaboration agreement in Asia with info-communications provider StarHub to create a connected vehicle mesh network in Singapore by transforming thousands of connected vehicles into mobile Wi-Fi hotspots. Veniam’s aim “is to connect thousands…
Calgary-based brokerage InsureMy Ltd. and United Kingdom-based telematics provider Trak Global Group announced on Wednesday a partnership through an exclusive licensing agreement enabling InsureMy to “distribute products from the Trak/Carrot [Insurance] brand to maximize distribution points throughout Canada.” Trak Global…