Canadian Underwriter

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Mergers and Aqcuisitions

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

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

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%

News BrokersInsuranceMergers and Aqcuisitions

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

News InsuranceMergers and Aqcuisitions

Who bought who this past week in the Canadian P&C space?

November 4, 2019 by Jason Contant

Global insurance brokerage Hub International Limited has bought another Canadian firm as part of its ongoing strategy to expand its employee benefits and pension solutions. Hub announced Monday it had acquired R Bruce Inc., doing business as RBI Advisory Group.

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This might drive additional insurers to demutualize

October 30, 2019 by Greg Meckbach

Mutual insurers that are concerned about their small size placing them at a competitive disadvantage could choose to follow in the footsteps of Economical and start the demutualization process, suggests an executive who is looking to invest about $500 million

News BrokersCommercial LinesInsuranceMergers and Aqcuisitions

The rationale behind Applied’s acquisition of Policy Works

October 17, 2019 by Jason Contant

Providing brokers with a complete view of their business – both personal and commercial lines – was among the reasons Applied Systems decided to acquire Policy Works, Applied’s vice president of industry and partner relations said Wednesday. Steve Whitelaw spoke

News AnnouncementsCommercial LinesInsuranceMergers and AqcuisitionsTechnology

Applied Systems acquires Policy Works

October 15, 2019 by Jason Contant

Applied Systems announced Tuesday it has acquired Policy Works, a major platform for commercial lines business in Canada. The acquisition will extend Applied’s position within the commercial lines market segment, driving greater connectivity and automation for commercial lines brokerages and

News InsuranceMergers and AqcuisitionsTechnology

5 lessons for M&A newbies, courtesy of serial acquirers

October 10, 2019 by Jason Contant

What are some of the best practices in mergers and acquisitions (M&A)? David Hunt, senior director of mergers and acquisitions at Willis Towers Watson, said in a recent blog that newcomers can learn from the best serial acquirers. While not