Topic
Mergers and Aqcuisitions
How consolidation is changing broker-insurer relationships
July 7, 2023 by Alyssa DiSabatinoBrokerage 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…
Mutuals group Collectivfide appoints head of M&A
July 6, 2023 by David GambrillCollectivfide 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.…
What’s driving Navacord’s M&A growth strategy
June 30, 2023 by David GambrillCanada’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…
Large Canadian brokerage now operating coast to coast
June 28, 2023 by Jason ContantEditor’s Note: An original version of this article incorrectly identified Western Financial Group as Westland. Canadian Underwriter apologizes for the error. Western Financial Group now operates coast to coast following its full acquisition of Huestis Insurance and Associates Ltd.…
Behind the big brokerage merger between ONE and BSI
June 27, 2023 by David GambrillONE Insurance and BSI Insurance are combining to form the largest Manitoba-owned brokerage network, serving the province through 28 branches in 26 different communities. The new company would bring together two of Manitoba’s oldest insurance brokers, with a total of…
Meet CBN’s latest member brokerage
June 27, 2023 by Jason ContantOntario-based My Insurance Broker (MIB) has joined the Canadian Broker Network (CBN). Based in Richmond Hill, MIB offers a variety of insurance products including home (as well as cottage and condo insurance), auto (Uber insurance, online auto quotes, motorcycle and…
Who’s acquiring Canadian P&C brokerages?
June 22, 2023 by Jason ContantPrivate equity (PE) and insurer-backed brokerage acquisitions appear to have surged in recent years, but it’s difficult to get a true number as not all transactions are reported, business advisory and consulting firm Smythe LLP said in a new report.…
Why consolidation slows down service levels
June 21, 2023 by Alyssa DiSabatinoConsolidators will have to tread the line between growing rapidly while also ensuring growth doesn’t hinder operations, particularly customer service, said experts at an industry panel. Amid consolidation, small and medium-sized brokerages will be able to remain competitive if they…
Brokerage M&A activity spikes in era of high interest rates
June 19, 2023 by Alyssa DiSabatinoOntario saw a record 48 finalized brokerage transactions in 2022, mostly led by consolidators, said Suzanne Pountney, president of the Insurance Brokers Association of Ontario (IBAO), during the Young Broker Conference in Niagara Falls. “This is up 60% over last…
McDougall expands into Alberta through M&A
June 14, 2023 by David GambrillWith McDougall Insurance Brokers now within the Definity fold, the brokerage has made a splash in the merger game, cutting a deal to acquire Alberta-based Drayden Insurance. McDougall announced it has entered into a definitive agreement to acquire 100% of…
Acquisition broadens NFP’s Ontario base
June 8, 2023 Philip PoradoNFP has acquired Rhodes & Williams Ltd. in a transaction that closed May 24, the company said in a press release. The move expands NFP’s Ontario presence “and increases its P&C capabilities and scale across personal risk and commercial lines,”…
Will fewer mergers reduce reps and warranties insurance pricing?
June 7, 2023 Jason ContantPricing in the representations and warranties (R&W) insurance market has softened relative to the hard market conditions experienced from the start of 2021 into the first half of 2022, industry professionals told CU. R&W insurance protects against financial loss arising…