Topic
Mergers and Aqcuisitions
BrokerLink buys Burlington brokerage
June 6, 2023 Philip PoradoFor the sixth time so far in 2023, BrokerLink has grown its market share through M&A, this time with the acquisition of Burlington, Ont.-based T.K. WoodMar Insurance & Financial Group. WoodMar has offered commercial (business owner, liability and commercial vehicle),…
Fifty shades of broker independence
May 26, 2023 by David GambrillIn a world dominated by growth via mergers and acquisitions, Canadian brokerages are operating under a variety of ownership models, making the modern concept of “broker independence” very nuanced, panellists observed Thursday in a Live with CU panel discussion. “I…
BrokerLink president shares thoughts on brokerage M&A
May 24, 2023 by Jason ContantBrokerLink still sees plenty of M&A opportunities in provinces where it currently operates and doesn’t have any immediate plans to expand into new geographic areas, the brokerage’s president told Canadian Underwriter in an interview Tuesday. BrokerLink is focusing its resources…
Live with CU | Declarations of (broker) independence
May 19, 2023 Canadian Underwriter StaffGiven all of the M&A activity in the broker channel over the past two decades, has the definition of what it means to be an “independent” broker changed? In Canadian Underwriter‘s 2023 national survey of more than 150 brokers, 48%…
What’s behind Lloyd Sadd’s latest brokerage deal
May 16, 2023 by Alyssa DiSabatinoNavacord founding partner Lloyd Sadd Insurance Brokers has acquired northern Alberta’s Casey Insurance, effective Apr. 1. Casey Insurance is a full-service brokerage offering home, auto and business insurance solutions to clients within the region of Peace River, Alta., and…
McDougall-McFarlan merger just the beginning for Definity
May 15, 2023 by David GambrillMcDougall’s $232-million merger with Ontario brokerage McFarlan Rowlands last week is only the beginning for Definity, which is seeking more M&A growth to put it into the Top-5 P&C insurance companies in Canada. In its 2023 Q1 earnings call, Definity…
IBAO CEO’s thoughts on McDougall-McFarlan Rowlands merger
May 10, 2023 by Jason ContantMcDougall Insurance’s recent merger with McFarlan Rowlands shows the broker distribution network continues to be a healthy investment choice, Insurance Brokers Association of Ontario (IBAO) CEO Colin Simpson told Canadian Underwriter recently. Of course, the larger independent brokerage groups become,…
Definity’s McDougall merges with McFarlan Rowlands
May 8, 2023 by Jason ContantLarge Ontario brokerage McDougall Insurance Brokers Limited, a subsidiary of Definity Financial Corporation, has merged with another large provincial brokerage — McFarlan Rowlands Insurance Brokers Inc. The combination of McDougall and McFarlan Rowlands represents more than $700 million in annual…
Westland expands reach in Ontario with latest acquisition
May 5, 2023 by Jason ContantWestland Insurance has acquired Ontario-based First Durham Insurance & Financial Ltd., one of the largest and oldest full-service independent brokerages in the Durham Region. “Effective May 1, this acquisition helps Westland expand its reach in the important Ontario market,” Westland…
Navacord makes largest acquisition of the year
April 24, 2023 by Jason ContantNavacord has made its fifth and largest transaction of the year with the acquisition of British Columbia-based SeaFirst Insurance Brokers, effective Apr. 1. With roots dating back to 1950, SeaFirst Insurance has since grown to one of the largest commercial…
M&A transactions see Canadian and U.S. brokerages expand nationally
April 13, 2023 by Alyssa DiSabatinoM&A activity this month has seen two major Canadian brokerages—Westland and Brokerlink—expanding their practices nationally, and one U.S.-based brokerage entering the Canadian market. B.C.-based Westland Insurance expanded its P&C practice with three acquisitions across Ontario, Alberta and Manitoba in April. …
McDougall merges with 100-year-old brokerage
April 5, 2023 by Jason ContantMcDougall Insurance has merged with 100-year-old brokerage Rayburn Insurance Brokers Ltd., a fourth-generation family-owned business located in Tweed, Ont. Rayburn Insurance has been in business since 1922. The brokerage serves Tweed, Northbrook and surrounding areas, offering home, auto, commercial, farm,…