Canadian Underwriter

Topic
Mergers and Aqcuisitions


Analyzing financial results
News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Intact provides update on RSA profitability, remaining priorities 

August 8, 2023 by Jason Contant

Two years after Intact Financial Corporation acquired RSA Canada (and some other operations outside Canada), value creation from the acquisition has exceeded expectations, Intact’s chief financial officer said during an earnings call last week.  “We estimate that annual RSA synergies

News BrokersCommercial LinesInsuranceMergers and Aqcuisitions

What’s behind Hub’s latest acquisition

August 3, 2023 by Alyssa DiSabatino

Hub International has acquired British Columbia-based Golden Ears Insurance Services Ltd. The acquisition will position the global insurance brokerage to build out its specialty lines, a Hub executive told Canadian Underwriter in a statement. “Golden Ears fits well with Hub’s

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News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Wawanesa to sell U.S. subsidiary, focus on Canadian market

August 1, 2023 by Jason Contant

Wawanesa Mutual Insurance Company will sell its U.S. subsidiary to the Automobile Club of Southern California’s affiliated insurer as it focuses its efforts on the Canadian insurance market.  Wawanesa Mutual announced Tuesday it has entered into a definitive agreement to

M&A concept
News AnnouncementsBrokersMergers and Aqcuisitions

The P&C benefits firm buying frenzy continues

July 31, 2023 by Alyssa DiSabatino

Acera Insurance Services Ltd. is merging with Prizm Financial Inc. to expand its benefits division.  The deal follows an ongoing trend of P&C firms expanding their offerings into the financial services realm by becoming one-stop shop for their commercial and

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News ClaimsCommercial LinesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Why private equity firms are seeing premium increases

July 26, 2023 by Alyssa DiSabatino

Big buyers of P&C brokerages — i.e., private equity (PE) firms — may continue to see premium increases for their own liability and cyber policies, albeit flatter than before, Matthew Studley, executive vice president of complex risk for Hub International,

Connected puzzle pieces with acronym M&A
News BrokersInsuranceMarkets / CoveragesMergers and AqcuisitionsProducts

M&A frenzy continues with multiple deals announced

July 19, 2023 by Jason Contant

Correction: The article has been amended to show Andrew Agencies has 22 locations, not 200 as previously reported. Canadian Underwriter apologizes for the error.    On the heels of separate deals that closed at the beginning of the month, large

Business team success and partnership
News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

Navacord broadens benefits practice with new acquisition

July 17, 2023 by Alyssa DiSabatino

Navacord has announced its acquisition of Belay Advisory, a benefits consulting and wealth advisory firm based in Alberta.  This deal follows the burgeoning trend of P&C firms expanding their offerings into the financial services realm, in order to become a one-stop

M&A concept
News BrokersCommercial LinesInsuranceMarkets / CoveragesMergers and AqcuisitionsProducts

Large Canadian brokerages announce latest M&A deals

July 13, 2023 by Jason Contant

Canadian P&C brokerage merger and acquisition activity continues to burn red-hot in the second half of 2023, with large brokerages BrokerLink and Acera Insurance announcing a combined three deals recently. BrokerLink acquired Ontario-based Donnell Insurance Brokers Ltd. and New Brunswick-based

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News InsuranceMergers and AqcuisitionsRisk

Is the mutual insurance company model under threat?

July 11, 2023 by Alyssa DiSabatino

Mutuals were some of the first insurance companies to settle in Canada. But despite their longstanding history, there are existential threats that could “end the ability for mutual companies to participate in the market,” a mutual insurer executive said during

News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

How consolidation is changing broker-insurer relationships

July 7, 2023 by Alyssa DiSabatino

Brokerage consolidation is changing how insurers interact with their broker partners, panellists said during the Insurance Brokers Association of B.C. (IBABC) AGM and Leader’s Conference in Whistler, B.C., last week.  The impact of consolidation is most acute for insurers who

Eric Walker, Collectivfide
News AppointmentsBrokersInsuranceMergers and Aqcuisitions

Mutuals group Collectivfide appoints head of M&A

July 6, 2023 by David Gambrill

Collectivfide Insurance Group has appointed Eric Walker as its head of mergers and acquisitions (M&A). Formed in 2019, Collectivfide’s shareholders represent mutual insurance companies in Ontario and across Canada. The company is committed to protecting the independent broker distribution channel.

Picture of the canadian flag taken in front of a cold and blue business building.
News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

What’s driving Navacord’s M&A growth strategy

June 30, 2023 by David Gambrill

Canada’s fourth-largest brokerage, Navacord, took another step Wednesday in building what it calls “The Great Canadian Brokerage,” announcing an M&A deal with Mitchell McConnell Insurance Ltd. in New Brunswick. Mitchell McConnell Insurance, whose legacy dates to 1927, is headquartered in