Several Canadian commercial P&C brokerages are actively acquiring wealth management, retirement planning and employee benefits firms so they can boost revenues by adding to their product ranges. The simple math suggests a larger product suite — one that brings in…
Frequent announcements about Canadian P&C brokerages buying retirement and wealth planning advisories raises an interesting question: What do the acquirers offer to the employees of the firms they buy? The short answer is development opportunities, said Terri Botosan, regional president…
Portfolio analysis is key to buying or selling brokerages, and some portfolios are more attractive than others, Herb Cline, president of CF2K Strategic Consultants, told a session at the Insurance Brokers Association of Ontario’s recent convention. “The flavor of the…
Recent merger deals announced by Canadian commercial P&C brokerages increasingly feature acquisitions of wealth management and employee benefits firms, and this is no accident, brokers tell Canadian Underwriter. This subset of M&A is about P&C brokerages becoming a type of…
P&C brokerage merger and acquisition activity in Canada remains strong and healthy, as evidenced by the number of deals announced in just the past couple of weeks. Those deals involve brokerages that include Westland Insurance Group, BrokerLink, Western Financial Group,…
BrokerLink has made its 19th and 20th acquisitions of 2022 with the purchase of two Ontario brokerages. The Intact Financial Corporation subsidiary said L&M Dallaire Insurance Ltd. and Cryderman Insurance Brokers Ltd. joined BrokerLink effective Oct. 1. Both brokerages offer…
Definity Financial Corporation has increased its ownership interest in Ontario-based brokerage McDougall Insurance from approximately 25% to 75%, “building a broker partnership with proven M&A expertise.” The partnership is for a cash consideration of $217 million (subject to post-closing adjustments),…
Startups looking to ride the upcoming M&A wave need to hold a mirror up to their businesses and see themselves through the eyes of a potential acquirer, said the author of a recent Harvard Business Review blog. And insurance…
Brokerage M&A has been hectic so far in 2022, with one firm bringing eight brokerages across Canada under its wing during the summer. Navacord today announced it closed eight acquisitions during July and August that expands the company’s presence in…
British Columbia-based CapriCMW and Alberta-based Rogers Insurance have announced that they have merged and will be known as Acera Insurance. The merger will create a company with 1,000 employees located in more than 50 offices across Alberta, B.C., Ontario and…
Definity Financial Corporation is maintaining its goal of becoming a Top 5 insurance company through a combination of organic growth and M&A activity, Definity president and CEO Rowan Saunders suggested during a recent financial services conference. “One of the drivers…
Navacord Corp. has completed its 20th and largest M&A deal of the year following its partnership with Insurance Store, effective Aug. 1, 2022. Headquartered in Windsor, Insurance Store has five offices across Ontario in Barrie, Collingwood, Chatham, and Woodstock,…