Topic
Mergers and Aqcuisitions
Aviva Canada to acquire “capital light” MGA
November 27, 2023 by David GambrillAviva Canada is acquiring Optiom O2 Holdings Inc., a managing general agent (MGA) that specializes in vehicle replacement insurance in Canada. The $170-million Cdn deal is subject to regulatory approval and is expected to close in the first quarter of…
The latest merger for McDougall
November 24, 2023 by Alyssa DiSabatinoMcDougall Insurance Brokers Limited announced it has merged with Ontario-based M.B. Kouri Insurance Brokers Ltd. The brokerage will join operations with McDougall’s insurance and finance team to operate as an independent brokerage, McDougall announced in a press release. McDougall has…
Has private equity interest in P&C brokerages peaked?
November 21, 2023 by Jason ContantPrivate equity interest in the Canadian P&C brokerage space is showing no sign of slowing down, industry observers said last week at KPMG’s 2023 Insurance Conference in Toronto. Private equity groups remain eager to acquire Canadian brokerages, said Andrew Mathias,…
BrokerLink completes triple acquisition
November 13, 2023 by Jason ContantBrokerLink has expanded its well-established footprint in the Greater Toronto Area with the acquisition of brokerages All-Risks Insurance (Burlington), Dowhaniuk Insurance and Heinsoo Insurance. BrokerLink announced Monday it completed the asset acquisition of Solutions Financial PCC Inc., operating as All-Risks…
What’s new about Westland’s latest deals
November 10, 2023 by Alyssa DiSabatinoWestland Insurance announced its partnership with employee benefits and retirement solutions provider Prime Benefits Group Inc. Westland said the deal is part of its strategy to enhance its group benefits portfolio and strengthen its position in the Canadian market. Based…
What P&C brokerage buyers are really looking for
November 8, 2023 by Jason ContantBuyers of Canadian P&C brokerages are becoming more selective about the brokerages they will pursue, with an increase in demand for commercial lines-focused brokerages, a new report from advisory firm Smythe LLP says. P&C consolidators continue to diversify their acquisitions,…
Behind the scenes of Hub’s latest Canadian acquisition
November 6, 2023 by Jason ContantIn a bid to shore up its personal and commercial insurance capabilities, Hub International Limited has acquired the assets of Quebec-based D’Onofrio Insurance Inc. Located in Laval, Que., D’Onofrio Insurance is an independent brokerage offering personal and commercial insurance to…
International actuarial firm acquires MSA Research
November 2, 2023 by David GambrillValani Global, an actuarial modeling and financial reporting firm with operations in Canada and the United States, has acquired MSA Research, a Canadian analytical research firm specializing in the insurance industry. Terms of the deal were not disclosed. “This acquisition…
McFarlan Rowlands acquires two brokerages
November 1, 2023 by Alyssa DiSabatinoMcFarlan Rowlands Insurance Brokers Inc. today announced the acquisition of McConville Omni Insurance Brokers Ltd. and T.G. Colley & Sons Ltd. These acquisitions enable McFarlan Rowlands to expand in the southwestern Ontario region, the brokerage said in a release. …
Why McFarlan Rowlands decided to sell
October 27, 2023 by Alyssa DiSabatinoA desire for scale, coupled with a rapid succession of shareholder retirements, compelled McFarlan Rowlands to sell to a subsidiary of Definity earlier this year, a senior exec told the Insurance Brokers’ Association of Ontario’s annual convention in Toronto. …
Accelerant scoops up Omega Insurance Holdings
October 27, 2023 by David GambrillAccelerant Holdings U.K. Ltd. has officially entered the Canadian property and casualty insurance market, closing the deal to acquire Omega Insurance Holdings Inc. from Till Capital Corporation. Accelerant will pay Till Capital approximately $13 million Cdn in exchange for all…
Why a large-scale brokerage merger may be on tap in 2024
October 20, 2023 by Alyssa DiSabatinoThe persistent pace of M&A activity in 2023 will remain undaunted in the new year, and as activity hastens, the industry can expect organic growth to be challenged, one expert shared during a recent broker convention. “I wouldn’t be surprised…