Canadian Underwriter

Mergers and Aqcuisitions

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News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

Two ways brokers can tame the market-consolidation juggernaut

June 28, 2022 by Alyssa DiSabatino

Building relationships across the industry and offering consistency can help brokers overcome a slew of future challenges, including quickening market consolidation, an impending recession, diminished capacity and the hard market, say broker executives. “In order to be able to meet

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News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

How much of the industry will change hands in five years: Intact exec

June 22, 2022 by Alyssa DiSabatino

Canada’s largest insurer thinks 15% of insurers will undergo ownership changes in the next five years. “We predict that about 15% of the existing market shares will change hands in the next five years,” said Louis Gagnon, CEO of Intact

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News BrokersInsuranceMergers and Aqcuisitions

Three key issues facing the broker channel

June 21, 2022 by Alyssa DiSabatino

Expect the quickening pace of mergers and acquisitions (M&A) activity to present a big challenge — or advantage — to brokers, Joseph Carnevale, president at Insurance Brokers Association of Ontario, said at the Young Brokers Conference.   The Insurance Broker

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News BrokersInsuranceMergers and Aqcuisitions

Where M&A strategies are leading brokerages, big or small

June 6, 2022 Jason Contant

Large Canadian P&C brokerages continue to make national expansion a component of their acquisition strategies. National brokerage Navacord partnered with Abatis Risk Management (Abatis Gestion de Risques inc.) in March, which was Navacord’s first partnership in Quebec, according to Navacord

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News BrokersCommercial LinesInsuranceLegalMergers and Aqcuisitions

How brokers can help small business clients replace escrow agreements

May 31, 2022 Jason Contant

M&A insurance can help small and medium-sized enterprises (SMEs) avoid the need for an escrow agreement, but many small business owners aren’t aware of this possible solution. Escrow agreements are commonly found in M&A deals in the SME segment (deals

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News BrokersMergers and Aqcuisitions

Westland expands reach into Ontario with recent acquisitions

May 27, 2022 by Alyssa DiSabatino

Westland Insurance Group Ltd. has broadened its place in commercial and personal lines with the recent acquisition of two Ontario-based brokerages: MCR Insurance in Aurora and Walter Roberts Insurance in Richmond Hill.  Ontario is an area of strategic importance, Westland

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News BrokersCommercial LinesEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsMGAsRisk

Where have all the good underwriters gone?

May 12, 2022 Gloria Cilliers

For years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than

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News BrokersCommercial LinesInsuranceMergers and AqcuisitionsTechnology

Legacy systems create IT talent crunch for the industry

May 6, 2022 by Alyssa DiSabatino

The industry’s heavy reliance on outdated legacy systems may be holding it back from modernizing, panellists note during a Canadian Underwriter webinar — and this could be a problem for attracting IT talent.  “Legacy platforms are a big challenge for

Man types on his laptop. An image of a masked man holding a padlock and the text "pay" shows up on his screen.
News ClaimsInsuranceLegalMergers and Aqcuisitions

What happens when you negotiate with a hacker?

March 18, 2022 by Alyssa DiSabatino

Clients have a tough choice to make when they’re hit with a ransomware attack — to pay or not to pay?   “If you decided not to pay the ransom for whatever reason, and that hacker ultimately discloses that information,

Puzzle pieces representing M&A.
News Earnings / RatingsInsuranceMergers and Aqcuisitions

Five factors driving M&A activity in 2022

March 15, 2022 Philip Porado

Calendar 2021 marked the first full year of positive mergers and acquisitions (M&A) performance for the world’s deal makers since 2016, said research compiled for WTW’s Quarterly Deal Performance Monitor. The research, conducted in partnership with the M&A Research Center

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News BrokersLegislation / RegulationMergers and Aqcuisitions

Why this broker was fined $700 after an acquisition

March 3, 2022 by David Gambrill

An Alberta broker has been fined $700 for failing to transfer her broker’s license when the Co-operators General Insurance Company took over the ownership of her brokerage. Brokers in Alberta and other provinces must have a license that is connected

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News BrokersMergers and Aqcuisitions

How independent brokers can compete with the ‘big boys’

February 18, 2022 Gloria Cilliers

Of the list of things keeping independent brokers up at night, none is more daunting than finding ways to compete with an “overwhelming amount of consolidators swallowing the industry,” say members of Canada’s largest network of independent brokers. “It’s a