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…
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…
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…
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…
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…
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…
BrokerLink has completed 20 total acquisitions in 2023, including two new brokerage deals — one in Alberta and one in Ontario. “The company remains a top succession option for principals who are thinking about the future of their operation…
Global commercial brokerage Hub International announced the acquisitions of two Alberta benefits firms this week. Hub, based in Illinois, has acquired JRP Financial Services, Inc., as well as the shares of The Musgrave Group. Terms of the transactions were…
Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,…
Private equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers consumers the ability to quote, purchase and manage car and home insurance policies entirely online.…
New York-headquartered insurance services provider Amynta Group has entered into a definitive agreement to acquire specialty insurance managing general underwriter (MGU) Sutton Special Risk Inc. “The acquisition of Sutton expands Amynta’s offerings in the accident and health market and accelerates…
Selectpath Insurance, a Navacord brokerage, has partnered with Myers Insurance to enlarge the southwestern Ontario presence of each brokerage. Headquartered in Wallaceburg, Ont., and with an office in Corunna, Myers Insurance is a second-generation multi-lines brokerage run by president Jim…