Canadian Underwriter

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Mergers and Aqcuisitions


News BrokersInsuranceMergers and AqcuisitionsMGAs

Intact unveils new brand name for MGA Frank Cowan

April 28, 2021 by Greg Meckbach

Intact Financial Corp. is changing the brand name of Frank Cowan Company, the managing general agent it acquired in 2019 from Princeton Holdings. The MGA will be known as Intact Public Entities Inc. “The MGA distribution channel presents a strategic

News AppointmentsInsuranceMergers and Aqcuisitions

Change of plans for executive lineup at Heartland following Kings merger

April 27, 2021 by Greg Meckbach

Kings Mutual CEO Cara Cameron is not staying on after the Nova Scotia-based insurer merges with Heartland Farm Mutual Inc. If approved by regulators, the Kings-Heartland deal, initially announced on Jan. 18, will take effect June 30. The merger was

News BrokersMergers and Aqcuisitions

Inside the merger of Highcourt and Breckles

April 15, 2021 by Greg Meckbach

Search engine optimization (SEO), electronic transactions, and contracts with carriers insuring small to mid-sized enterprises (SMEs) are among the capabilities that made the Breckles Group of Companies attractive to Highcourt Partners. The merger of those two Canadian brokerages, resulting in

News BrokersInsuranceMergers and Aqcuisitions

Brokerage interest in M&A dips slightly in early 2021: CU survey

April 12, 2021 by David Gambrill

For Canadian brokerage principals, interest in mergers and acquisitions as a growth strategy increased dramatically in September 2020, during the second wave of the pandemic, but seems to have cooled somewhat since then, according to the results of Canadian Underwriter’s

News BrokersInsuranceMergers and Aqcuisitions

Navacord builds up war chest to finance future M&A

April 6, 2021 by Greg Meckbach

Navacord has built up a sizeable war chest to fund future mergers and acquisitions. The Toronto-based group of brokerages recently completed $1.05 billion in financing, a portion of which is to be used to take advantage of unspecified “M&A opportunities,”

News Commercial LinesInsuranceMergers and Aqcuisitions

The rationale for Intact expanding its commercial appetite

March 26, 2021 by Greg Meckbach

Mid-sized commercial clients are going to get bigger, so executives with Canada’s largest property and casualty insurer want to continue their expansion in specialty lines. “We are really scaling up our specialty lines capability here in North America,” Intact Financial

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Hartford board rejects unsolicited takeover offer from Chubb

March 24, 2021 by Greg Meckbach

The Hartford Financial Services Group Inc. announced Tuesday its board of directors is not in favour of a US$23 billion takeover offer from Chubb Limited. Both Chubb and Hartford own Canadian property and casualty commercial insurers. Zurich, Switzerland-based Chubb announced

News Mergers and Aqcuisitions

Hartford ‘carefully considering’ proposed $23-billion merger with Chubb

March 19, 2021 by Greg Meckbach

Chubb Limited is offering to buy The Hartford Financial Services Group Inc. for about US$23 billion. Chubb and Hartford each own property and casualty commercial insurers in Canada. Chubb is based in Zurich, Switzerland, while Hartford is based in the

News InsuranceMergers and Aqcuisitions

M&A report: Where Intact-RSA sits among Canada’s largest Q4 deals

March 17, 2021 by David Gambrill

Intact and Danish insurer Tryg’s $10.4-billion play for RSA Insurance Group plc topped the list of Canada’s largest deals announced in 2020 Q4, according to a recent report by corporate law firm Miller Thomson. The report defines the largest M&A

News InsuranceMergers and Aqcuisitions

How Intact will decide whether to keep RSA operations outside of Canada

March 2, 2021 by Greg Meckbach

It would have been difficult for Intact Financial Corp. to only buy RSA’s Canadian operation without buying other parts of London-based RSA plc, a senior Intact executive suggests. “It is difficult to pull [RSA Canada] away from the RSA Group

News InsuranceMergers and Aqcuisitions

Intact looks beyond RSA deal for more M&A

March 1, 2021 by Greg Meckbach

Intact Financial Corp. will probably not be finished acquiring other insurers after Intact absorbs RSA Canada. “We will be ready at some point to take on more transactions in Canada,” Intact CFO Louis Marcotte said during the 22nd Annual Credit

News ClaimsClaims CanadaConstructionInsuranceMergers and AqcuisitionsRestoration

Property restoration space has ‘big capacity’ issue: Brindamour

February 19, 2021 by Greg Meckbach

Intact Financial Corp. is aiming to build capacity in what CEO Charles Brindamour calls the “super-fragmented” restoration contractor industry. “Our thought process with On Side [Restoration] is very much consistent with what we tried to do with BrokerLink a decade