Canadian Underwriter

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Mergers and Aqcuisitions

News BrokersMergers and AqcuisitionsTechnology

Three reasons fintech is driving brokerage acquisitions

December 11, 2019 by Greg Meckbach

Disruption by fintechs will be one driving force behind mergers and acquisitions among insurance brokerages, industry executives say.“I think fintech will help perpetuate this continued consolidation trend because I think at the small end of the market, fintech is viewed

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Applied Systems to acquire Indio Technologies

December 4, 2019 by Jason Contant

Applied Systems announced Wednesday it has entered into a definitive agreement to acquire Indio Technologies, a software company that digitizes the insurance application and renewal process. The announcement comes less than two months after Applied acquired Policy Works, a major

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Intact completes acquisition of The Guarantee

December 3, 2019 by Greg Meckbach

The takeover by Intact Financial Corp. of The Guarantee Company of North America is now complete, Toronto-based Intact announced Monday. “We can now welcome The Guarantee and Frank Cowan employees into the Intact family,” Intact CEO Charles Brindamour said in

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Why your brokerage could be an attractive takeover target

December 2, 2019 by Greg Meckbach

When private equity players are looking to buy firms they think are “recession proof” and brokerage owners reach retirement age, it’s a recipe for more mergers and acquisitions, insurance professionals heard last week at KPMG Canada’s 28th annual insurance conference.

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What to plan for when brokerages merge

November 29, 2019 by Greg Meckbach

If you manage a brokerage that has merged, don’t forget to tell every employee why the transaction took place and what the end goal is, brokerage leaders who have been through the process said Thursday. “I don’t think, in any

News BrokersMergers and Aqcuisitions

Employee-owned brokerage makes third acquisition of the year

November 14, 2019 by Jason Contant

Employee-owned independent insurance brokerage Storm Insurance Group announced Wednesday its acquisition of Quebec brokerage Axxium Assurance Inc., effective Nov. 1. “This opportunity now makes us one of Canada’s few national independent insurance brokers with full operations in all four regions

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Storm Insurance Group acquires Axxium Assurance Inc.

November 13, 2019 Storm Insurance Group

DARTMOUTH, NS, Nov. 13, 2019/InsPress/  – Storm Insurance Group (“Storm”) announced today that its employee ownership group has acquired Axxium Assurance Inc. (“Axxium”), of Montreal Quebec, effective November 1, 2019. “Axxium is Storm’s first acquisition in Quebec; a strategic achievement towards

News InsuranceMergers and Aqcuisitions

Brokerage acquisitions: What’s really in it for Intact?

November 12, 2019 by Greg Meckbach

Taking on potential disruptors and investing in technology are among the reasons Intact Financial Corp. is on a brokerage acquisition spree. “Our view is that scaling up distribution is the best way to fight disruption,” Intact CEO Charles Brindamour said

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This line of business has grown an estimated 20% since last year

November 11, 2019 by Jason Contant

How much has the demand for M&A transaction insurance grown in Canada? “While we do not have specific statistics, we estimate that demand has grown in the Canadian market at least in line with the broader Americas region at 20%

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How many Canadian employee benefits firms has Hub acquired?

November 8, 2019 by Jason Contant

Hub International has acquired another Canadian employee benefits firm as part of its continuing strategy to expand its offerings in this area, bringing the total number of acquired firms to about two dozen over the past two years. So far

News BrokersInsuranceMergers and AqcuisitionsTechnology

The pros and cons of consolidation in the tech vendor space

November 6, 2019 by Jason Contant

When there is consolidation in the industry, concerns about the erosion of choice is common. And the tech vendor space is no different. On Oct. 15, Applied Systems announced the acquisition of Policy Works, a major platform for commercial lines

News BrokersInsuranceMergers and Aqcuisitions

BrokerLink acquires another Ontario brokerage

November 4, 2019 by Greg Meckbach

BrokerLink has acquired Newmarket, Ont.-based Buckley Insurance Brokers Ltd., which places home, auto and commercial insurance. Buckley notified its customers Friday by email that it is now part of BrokerLink, which is owned by Intact Financial Corp., owner of Canada’s