Recent advances in cybersecurity, driven in part by a spike in venture capital funding, are helping insurers price cyber more accurately, an insurance industry consultant suggests. “There is a huge advancement around the use of artificial intelligence and advanced analytics…
While Canadian organizations are investing in emerging technologies and innovation, few of them are managing the associated risks, a report from PwC Canada suggests. Jennifer Johnson, a partner and national financial services leader with PwC Canada, says that when she…
While a majority (85%) of Canadian organizations are investing in emerging technologies, few of them are managing the risks associated with technology, such as cybersecurity threats and lack of talent, a recent PwC Canada report has found. The Full Risk…
The market for property and casualty insurance brokerages continues to be intense, with books of business attracting prices from three-and-a-half to five times commissions – and even more for online business, Mike Berris, partner and practice group leader with Vancouver-based…
Brokers or managing general agents (MGA) looking to buy another MGA could be looking at multiples of four times commission just to be able to compete with insurers looking to make the same purchase, industry analysts say. Philip Heywood, partner…
Succession planning has triggered an uptick in brokerage mergers and acquisitions over the last couple of years, an industry analyst told Canadian Underwriter recently. “I would say there’s an uptick in assets coming to market that are owner-operated, where succession…
With Economical Insurance on the road to demutualization, the question has always been: will other mutuals follow suit? But another possibility is that some of the smaller Canadian mutual insurers may merge to form larger entities in anticipation of demutualizing…
The lack of “domestically sizeable targets” coming to market is one factor contributing to a less-than-expected number of acquisitions for Canadian carriers, an industry analyst says. And whenever a sizeable acquisition opportunity does arise, there is heated competition among multiple…
Fewer insurance merger and acquisition (M&A) deals are being completed in the global insurance industry, but Canadian M&A does not appear to be following the global decline. Global M&A volume sunk by 12.3% in the first half of 2017, although…
The number of Canadian mergers and acquisitions (M&A) through the third quarter of this year increased to 1,879 from 1,522 during the same period in 2016, according to PwC Canada’s first Deals report, released on Monday. A PwC Canada spokesperson…
A systemic disconnect between material natural disaster risk, asset valuation and infrastructure investment demands that disaster risk and resilience be integrated into broader financial, accounting and reporting systems, David Greenall, senior director of sustainable business solutions for PwC Canada, told…
Artificial Intelligence (AI) attracted US$162 million in investments across 12 deals in the first half of 2017, the highest amount of funding in Canada in the past five years, according to the quarterly MoneyTree Canada Report from PwC Canada and…