Topic
Mergers and Aqcuisitions
BrokerLink continues expansion with Atlantic Canada acquisition
September 13, 2023 by Jason ContantBrokerLink continues its growth in Atlantic Canada with the acquisition of Nova Scotia-based brokerage Roger E. Strum Limited. Headquartered in Windsor, N.S., Strum Insurance has offered professional guidance for home, auto, motorcycle, recreational vehicle, boat and business insurance for more…
Brokerage merger to form Top 10 P&C firm
September 11, 2023 by Jason ContantQuebec brokerages Fort Assurances and Gaudreau Assurances have merged to form what the two companies call one of the Top 10 damage insurance firms in the province. The new entity, which will operate under the name Fort Insurance & Group…
Westland, Hub’s latest P&C acquisitions
September 8, 2023 by Jason ContantWestland Insurance Group and Hub International Ltd. have added to their property and casualty insurance offerings through recent M&A activity. Westland Insurance acquired Saskatchewan personal and commercial lines brokerage Insurance Matters Inc., while Hub International acquired Ontario-based cannabis insurance brokerage…
Mutual group makes local broker acquisition
September 5, 2023 by Alyssa DiSabatinoMutual insurer group Collectivfide announced it has acquired a majority stake in R.E. Miner Insurance Brokers Limited. Formed in 2019, Collectivfide’s shareholders represent mutual insurance companies across Canada. The acquisition, announced Sept. 1, marked Collectivfide’s 10th overall. R.E. Miner…
M&A predictions for second half of 2023
August 28, 2023 by Alyssa DiSabatinoM&A deals dropped globally in the first half of 2023, but are expected to rebound after a brief lull, said global law firm Clyde and Co. Ever-changing market cycles, geopolitical uncertainty and general economic volatility has meant an uncertain growth…
Navacord acquires condo insurance provider
August 16, 2023 by Jason ContantNavacord Corp. has announced the acquisition of Condominium Insurance Solutions (CIS), provider of one of the largest condo insurance programs in Ontario. Based in Markham, Ont., CIS’s offerings are tailored to meet the needs of the Condominium Act of Ontario…
How Intact CEO views the M&A landscape
August 11, 2023 by Jason ContantM&A transactions involving large-value brokerage deals do not reflect a trend and likely aren’t sustainable, Intact Financial Corporation CEO Charles Brindamour suggested during a recent earnings call. “If I go towards distribution, which are smaller transactions, I think we’ve seen…
A busy summer for M&A at two of Canada’s largest brokerages
August 9, 2023 by Alyssa DiSabatinoSummertime M&A has not been slowing down for BrokerLink and Westland Insurance who have respectively completed three and two more deals in August. For BrokerLink, the three latest deals account for a total of twelve in 2023 thus far, focused…
Intact provides update on RSA profitability, remaining priorities
August 8, 2023 by Jason ContantTwo years after Intact Financial Corporation acquired RSA Canada (and some other operations outside Canada), value creation from the acquisition has exceeded expectations, Intact’s chief financial officer said during an earnings call last week. “We estimate that annual RSA synergies…
What’s behind Hub’s latest acquisition
August 3, 2023 by Alyssa DiSabatinoHub International has acquired British Columbia-based Golden Ears Insurance Services Ltd. The acquisition will position the global insurance brokerage to build out its specialty lines, a Hub executive told Canadian Underwriter in a statement. “Golden Ears fits well with Hub’s…
Wawanesa to sell U.S. subsidiary, focus on Canadian market
August 1, 2023 by Jason ContantWawanesa Mutual Insurance Company will sell its U.S. subsidiary to the Automobile Club of Southern California’s affiliated insurer as it focuses its efforts on the Canadian insurance market. Wawanesa Mutual announced Tuesday it has entered into a definitive agreement to…
The P&C benefits firm buying frenzy continues
July 31, 2023 by Alyssa DiSabatinoAcera Insurance Services Ltd. is merging with Prizm Financial Inc. to expand its benefits division. The deal follows an ongoing trend of P&C firms expanding their offerings into the financial services realm by becoming one-stop shop for their commercial and…