Westland Insurance Group Ltd. has broadened its place in commercial and personal lines with the recent acquisition of two Ontario-based brokerages: MCR Insurance in Aurora and Walter Roberts Insurance in Richmond Hill. Ontario is an area of strategic importance, Westland…
For years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than…
The industry’s heavy reliance on outdated legacy systems may be holding it back from modernizing, panellists note during a Canadian Underwriter webinar — and this could be a problem for attracting IT talent. “Legacy platforms are a big challenge for…
Clients have a tough choice to make when they’re hit with a ransomware attack — to pay or not to pay? “If you decided not to pay the ransom for whatever reason, and that hacker ultimately discloses that information,…
Calendar 2021 marked the first full year of positive mergers and acquisitions (M&A) performance for the world’s deal makers since 2016, said research compiled for WTW’s Quarterly Deal Performance Monitor. The research, conducted in partnership with the M&A Research Center…
An Alberta broker has been fined $700 for failing to transfer her broker’s license when the Co-operators General Insurance Company took over the ownership of her brokerage. Brokers in Alberta and other provinces must have a license that is connected…
Of the list of things keeping independent brokers up at night, none is more daunting than finding ways to compete with an “overwhelming amount of consolidators swallowing the industry,” say members of Canada’s largest network of independent brokers. “It’s a…
When it comes to expanding your brokerages business, M&A may not always be better than organic growth, said panellists during a Canadian Underwriter webinar on Feb. 8. Doug Morrow, CEO and managing partner, Excel Insurance Group, sent a plea…
Navacord Corp. has just partnered with Group Lockhart Inc., PGI Financial, and Maritime Group Benefits. Navacord’s brokerages offer commercial and personal insurance, surety, employee benefits, and retirement consulting. Ontario-based Group Lockhart Inc. and PGI Financial specialize in local small- to…
Canada’s largest mutual insurer is promoting its new Beneva direct-to-consumer brand by being a major sponsor of Quebec City’s major junior hockey team and official presenter of the Videotron Centre’s calendar of events. Beneva announced Thursday a partnership with Quebecor…
Beneva plans to replace its La Capitale and SSQ direct-to-consumer brands but it’s business as usual, for the time being, for the broker-distributed Unica and L’Unique brands. “As of today both L’Unique and Unica are brands that exist in the…
Edmonton-based Foster Park Brokers Inc. has been acquired by New York City-based NFP Corp., the property and casualty insurance brokerages announced Tuesday. Foster Park places surety bonds, as well as P&C coverage for a variety of industries including oil and…