Canadian Underwriter

Topic
Mergers and Aqcuisitions

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Navacord expands with third acquisition of the year

March 14, 2024 by Alyssa DiSabatino

All-Risks Insurance Essex has been acquired by Ives Insurance, a Navacord-owned brokerage. The acquisition marks Navacord’s third deal of the year.   Based in Southwestern Ontario, All-Risks Insurance’s Essex branch joins the Navacord fold, effective Mar. 1. The entire All-Risks

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News BrokersEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Navacord’s first deal of the year 

February 29, 2024 by Jason Contant

Commercial insurance brokerage Navacord Corp. has completed its first transaction of the year with a partnership with Winnipeg-based Avant Insurance.  Announced Wednesday, the deal with the personal and commercial lines brokerage was effective Feb. 1. Navacord said in a press

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News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

PE-driven M&A is slowing, despite record deals in 2023

February 20, 2024 by Alyssa DiSabatino

Despite some consolidators slowing their pace — namely, private equity firms — Canadian insurance brokerage M&A reached a record level of deals in 2023. There were 108 publicly announced deals last year, Smythe LLP, a P&C insurance advisory and consulting

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News BrokersCommercial LinesEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Hub’s latest Ontario brokerage acquisition

February 12, 2024 by Jason Contant

Hub International Ltd. has enhanced its personal, commercial and employee benefits services with the acquisition of Ontario brokerage Mitchell Sandham. Located in Oakville, Ont., Mitchell Sandham is one of the oldest and largest independently owned insurance brokerages in the Greater

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News BrokersCommercial LinesInsuranceMergers and AqcuisitionsProfessional Development

Brokerage looking to expand outside home province

February 9, 2024 by Jason Contant

British Columbia-based brokerage AMC Insurance Services Ltd. is looking to expand outside its home province, the brokerage’s vice president told Canadian Underwriter recently. “We realized in our core business strategy that if we want to continue to be a provider

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News AnnouncementsBrokersMergers and Aqcuisitions

McDougall’s growth in Alberta proceeds apace

February 1, 2024 by David Gambrill

McDougall Insurance Brokers Ltd. announced Thursday it has merged with MHK Insurance Inc., a 110-year-old independent brokerage based in Alberta. MHK is a full-service brokerage offering home, auto, and commercial insurance products and services, specializing in more than 12 business

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News AnnouncementsBrokersMergers and Aqcuisitions

Large brokerage makes commercial deal in Ontario

January 29, 2024 by Alyssa DiSabatino

Acera Insurance Services Ltd. announced its latest deal with KRS Insurance Brokers Ltd., a specialized commercial brokerage based in Newmarket, Ont.   “This partnership supports Acera Insurance’s longstanding dedication to build scale and strengthen the independent brokerage model to provide

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News AnnouncementsBrokersMergers and Aqcuisitions

Why this national consolidator made layoffs

January 19, 2024 by Alyssa DiSabatino

Westland Insurance issued an internal email dated Jan. 15, announcing the layoff of about 30 employees, citing the inability to meet its 2023 financial targets, as well as salaries and expenses that exceeded plan. “Today, I’m sharing some very difficult

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How insurtechs can stand out in a crowded P&C market

January 17, 2024 by David Gambrill

Market dynamics are making it tougher for start-up insurtechs to find willing insurance company partners, and some say digital specialization is the key for insurtechs to make their way into the squeezed P&C industry. “Focus on specific differentiation,” advises Marcus

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What’s up Stoneridge’s sleeve in 2024

January 9, 2024 by Alyssa DiSabatino

Kicking off the new year, Stoneridge Insurance Brokers (SIB) announced two new deals to build out its offerings and presence in the country, with three additional deals expected to close within the next two months.   Most recently, SIB announced

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Westland’s first deal of the year

January 5, 2024 by Alyssa DiSabatino

Westland Insurance today rung in the New Year by acquiring two Alberta-based brokerages — Dyberg Insurance Inc. and Prairie Villa Insurance.  “Maintaining a firm local focus, [the two brokerages have] formed deep and lasting ties to their communities,” Westland commented

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News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

McDougall’s Drayden Insurance acquires Alberta brokerage

January 3, 2024 by Jason Contant

Alberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which itself is a subsidiary of Definity Financial Corporation. In October 2022, Definity increased