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Mergers and Aqcuisitions

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The advantage of merging insurers by telework

November 27, 2020 by Greg Meckbach

When COVID-19 was officially declared a pandemic nearly nine months ago, Jean-François Chalifoux was helping to lead the merger that formed Canada’s largest mutual insurer. “I was in Montreal March 12 [2020] and at 11:00 a.m. sharp, the [National Hockey

News InsuranceMergers and Aqcuisitions

A sneak peek at the new brand for La Capitale/SSQ

November 25, 2020 by Greg Meckbach

The new name of the mutual insurer formed through the merger of La Capitale and SSQ Insurance will not use either of the existing monikers, an executive for the Quebec City-based firm suggested Tuesday. “In 2020, we started working on

News InsuranceMergers and Aqcuisitions

How long Intact has been contemplating RSA acquisition

November 19, 2020 by Greg Meckbach

Executives with Canada’s largest property and casualty insurer have had their eye on RSA for a long time, the CEO of Intact Financial Corp. said recently. Intact Financial Corp. announced Wednesday that a deal to acquire RSA PLC has been

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How Intact will decide what becomes of RSA Canada’s brands

November 18, 2020 by Greg Meckbach

If Intact Financial Corp. takes over RSA Canada, the combined firm will go to market with the “strongest” brands, meaning it remains to be seen what happens in Canada to brands such as RSA, Unifund, and Johnson, Intact’s CEO suggested

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What the OneBeacon deal says about Intact’s prospects with RSA acquisition

November 17, 2020 by Greg Meckbach

Intact Financial Corp.’s recent experience writing commercial specialty in the United States is a good sign it could be successful writing property and casualty insurance overseas, analysts tell Canadian Underwriter. RSA plc and Intact announced earlier this month a possible

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Anti-trust issues unlikely if Intact acquires RSA Canada: Analyst

November 16, 2020 by Greg Meckbach

Intact Financial Corp. is unlikely to encounter any opposition from Canada’s competition regulator in acquiring RSA plc’s Canadian insurance operations, an expert from DBRS Morningstar predicts. “We see a material difference between the life insurance market and the P&C market

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Intact sets 50% growth target for BrokerLink

November 10, 2020 by Greg Meckbach

Intact Financial Corp. is aiming to grow its brokerage subsidiary to a $3-billion-a-year operation, CEO Charles Brindamour told investment banking analysts recently. “BrokerLink recently surpassed $2 billion in premiums as it continues to grow organically and through acquisitions,” Brindamour said

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Why the impact of an Intact-RSA combo would vary by province

November 6, 2020 by Greg Meckbach

Things could get interesting for brokers in Atlantic Canada if Intact takes over RSA’s Canadian operations, a Saskatchewan broker told Canadian Underwriter Friday. That being said, he felt if the proposed deal announced Thursday goes through, it would still leave

News AnnouncementsInsuranceMergers and Aqcuisitions

Intact and Tryg preparing a joint offer to acquire RSA

November 5, 2020 by David Gambrill

A consortium composed of Intact Financial Corporation and Nordic property and casualty insurer Tryg A/S is preparing a cash offer to acquire RSA plc for £7.2-billion (about Cdn$12.3 billion). Intact is Canada’s largest property and casualty insurer, with a market

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The downside of selling for 4 times multiple during COVID

October 23, 2020 by Greg Meckbach

Despite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15

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Brokerage M&A roundup: Westland and BrokerTeam announce deals

October 2, 2020 by Greg Meckbach

Westland Insurance Group and BrokerTeam Group have both announced separate deals this past week. Westland Insurance Group Ltd. acquired two Alberta brokerages, effective Oct. 1. Surrey, B.C.-based Westland announced Friday it closed the acquisition of Carstairs, Alta.-based Ironside Insurance Brokers

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Fight continues over proposal to acquire property data provider CoreLogic

October 1, 2020 by Greg Meckbach

A proxy battle is underway for control of the corporate parent of Canadian insurance technology vendor Symbility. Hedge fund advisor Senator Investment Group said Wednesday it is asking shareholders of CoreLogic Inc. to vote this November in favour of replacing