Canadian Underwriter

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Mergers and Aqcuisitions

News InsuranceMergers and Aqcuisitions

Biggest insurers will soon control more of the market: A.M. Best

September 16, 2021 by Greg Meckbach

Canada’s Top 5 property and casualty insurers control nearly half the market, with the largest increasing their market share further, an A.M. Best Company analyst said Wednesday. About two-thirds of direct premiums written, in Canadian P&C insurance, are controlled by

News BrokersInsuranceMergers and AqcuisitionsMGAs

Why and where Intact wants to buy more MGAs

September 12, 2021 by Greg Meckbach

Don’t be surprised if Intact Financial Corp. buys managing general agents in the United States who place commercial specialty insurance. “We think there is a big opportunity at the MGA level. We are still focused on that,” Intact CEO Charles

News ClaimsMergers and Aqcuisitions

Classic car coverage provider Hagerty could become publicly-traded

August 18, 2021 by Greg Meckbach

Hagerty Group LLC announced Wednesday it has agreed to merge with a special purpose acquisition company, a deal that is expected to result in the classic car insurance provider becoming publicly-traded on a stock exchange. Hagerty Canada LLC, a licensed

News BrokersMergers and Aqcuisitions

How brokers like BFL are recruiting talent to serve large international accounts

August 13, 2021 by Greg Meckbach

Uncertainty over mega-brokerage mergers provide an opportunity for other brokerages to acquire quality talent, a senior manager with Montreal-based BFL Canada suggests. “Recently, firms like BFL have reinforced their large account talent pool with various leaders, claims, captive experts, surety

News InsuranceMergers and Aqcuisitions

More room for industry consolidation and Intact wants to keep growing: CFO

August 11, 2021 by Greg Meckbach

Intact is probably not finished acquiring more Canadian insurers even with its recent acquisition of RSA Canada. On June 1, Intact closed a three-way deal in which Intact and Tryg A/S acquired London-based RSA plc. As a result, Intact now

News BrokersInsuranceMergers and AqcuisitionsMGAs

Why Intact has no intention of selling BrokerLink

August 4, 2021 by Greg Meckbach

If you knock on Intact’s door offering money to buy its BrokerLink subsidiary, prepare to get rejected. “You are far more likely to see us putting way more capital in [the property and casualty insurance brokerage] space than the other

News AdjustersClaimsClaims CanadaInsuranceMergers and Aqcuisitions

McLarens acquires MGB Claims Consultants

August 3, 2021 by Greg Meckbach

Canadian adjusting firm MGB Claims Consultants Inc. has been acquired by McLarens, a Norcross, Ga.-based insurance service provider. The financial terms of the deal, announced Tuesday, were not disclosed. Shawn Malik, James Giffen and Shawn Burnett – who founded MGB

News BrokersCommercial LinesInsuranceMergers and AqcuisitionsProducts

Gallagher no longer buying major Willis Towers Watson assets

July 30, 2021 by Greg Meckbach

A bunch of Willis Towers Watson plc workers, who anticipated that their divisions were being sold to Arthur J. Gallagher & Co., will be staying with Willis Towers Watson after all. Rolling Meadows, Ill.-based Gallagher announced July 26 that a

News BrokersMergers and Aqcuisitions

Stoppage of Aon-Willis combo won’t slow brokerage M&A activity: KPMG Canada deal advisor

July 28, 2021 by Greg Meckbach

Mid-sized brokers need to be careful in their approach to mergers-and-acquisition proposals but the abrupt cancellation of Aon’s $30-billion acquisition of Willis Towers Watson is not going to slow down deal-making within the brokerage sector, a Montreal-based insurance M&A expert

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

How many people Marsh hired amidst ‘distraction and uncertainty’ of Aon-Willis merger discussions

July 26, 2021 by Greg Meckbach

Amid the uncertainty over Aon PLC’s now-scuttled plan to acquire Willis Towers Watson PLC, Marsh & McLennan Companies Inc. increased its staff level by nearly 2,000 during the first half of 2021, Marsh & McLennan CEO Dan Glaser says. “We

News BrokersMergers and Aqcuisitions

Aon-Willis merger no longer going ahead

July 26, 2021 by Greg Meckbach

Aon plc is no longer going to acquire Willis Towers Watson plc. Aon and Willis – the world’s second and third biggest commercial property and casualty brokerage respectively – are terminating their US$30-billion combination agreement, Aon announced Monday. The proposed

News AnnouncementsBrokersCommercial LinesInsuranceMarkets / CoveragesMergers and Aqcuisitions

M&A deal sees brokerage expand into the child and youth care space

July 22, 2021 by David Gambrill

With the Ontario government poised to pump more funding into child care services, the timing was right for brokerage McFarlan Rowlands to acquire Magenta Insurance Professionals, a niche insurance broker focused on children and youth activities, says McFarlan Rowlands CEO