Canadian Underwriter

Topic Alberta

Connected puzzle pieces with acronym M&A
News AlbertaBrokersCommercialCommercial AutoMergers and AqcuisitionsPersonal AutoPersonal HomeProperty

McDougall’s Drayden Insurance acquires Alberta brokerage

January 3, 2024 by Jason Contant

Alberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which itself is a subsidiary of Definity Financial Corporation. In October 2022, Definity increased

Couple handshaking with a car salesperson after buying a car
News AlbertaBrokersInsurersLegalLicensingPersonal Auto

Car dealership fined for not sending premiums for warranties to insurer

January 2, 2024 by David Gambrill

An Alberta car dealership selling equipment warranties but not submitting the premiums to the insurer has been fined $85,000 by the province’s insurance regulator. Alberta Insurance Council [AIC] noted in its November 2023 decision that Penhold Car Farmers sold 17

Business leader press a mergers and acquisitions holographic button
News AlbertaBrokersInsurersMergers and AqcuisitionsOntario

BrokerLink completes 20 acquisitions in 2023

January 2, 2024 by Alyssa DiSabatino

BrokerLink has completed 20 total acquisitions in 2023, including two new brokerage deals — one in Alberta and one in Ontario.   “The company remains a top succession option for principals who are thinking about the future of their operation

Insurance losses going down the drain
News AlbertaB.C.BrokersClaimsEmerging RisksEnvironmentalInsurersLoss ControlLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioPersonal AutoPersonal HomeQuebecRisk ManagersTrusted Advisor

How insurers can manage losses as NatCat events ramp up

December 18, 2023 by Philip Porado

Whatever’s driving increasingly devastating storms over the past decade, one thing is certain — insurers have watched NatCat losses ramp up over the past decade. “It used to be an unusual year where you’d have more than a billion dollars

Anne Fortin appointed president of Intact Insurance.
News AlbertaB.C.HRInsurersManagementManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioQuebec

Intact Insurance names president

December 15, 2023 by Jason Contant

Intact Financial Corporation (IFC) has appointed Anne Fortin as president of Intact Insurance, effective Jan. 1, 2024.  In her new role, Fortin will have responsibility for the Quebec, West, Ontario and Atlantic divisions of Intact Insurance, the insurer said in

Fire, flood, hurricane
News AlbertaB.C.BrokersCatastrophesClaimsInsurersLoss ControlLoss TrendsNew BrunswickNewfoundland & LabradorNova ScotiaPersonal AutoPersonal Home

Can Canada’s P&C industry catch up to NatCats?

December 14, 2023 by Philip Porado

In much of Nova Scotia, last summer was hell. The Tantallon wildfire in May and June generated $165 million in insured damage, mostly for personal property, by the time the flames went out July 4. In a normal year, residents

Joining a puzzle on a blue background; M&A concept
News AlbertaBrokersCommercialMergers and Aqcuisitions

This province is Hub’s latest benefits firms acquisition target

December 12, 2023 by Alyssa DiSabatino

Global commercial brokerage Hub International announced the acquisitions of two Alberta benefits firms this week.   Hub, based in Illinois, has acquired JRP Financial Services, Inc., as well as the shares of The Musgrave Group. Terms of the transactions were

Digital puzzle pieces; digital M&A concept
News AlbertaB.C.BrokersCommercialHRManagementMergers and AqcuisitionsMGAsOntarioOperationsPersonal AutoPersonal HomeTechnology

Private equity firm acquires digital brokerage

December 8, 2023 by Jason Contant

Private equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers consumers the ability to quote, purchase and manage car and home insurance policies entirely online.

Heavy equipment being moved as work continues on the Trans Mountain pipeline.
News AlbertaB.C.CommercialEnvironmentalPropertySupply Chain

Shipper costs to rise as regulator approves preliminary interim Trans Mountain tolls

December 1, 2023 by Amanda Stephenson - THE CANADIAN PRESS

CALGARY – The Canada Energy Regulator has approved preliminary interim tolls that would see oil companies pay nearly twice as much to ship crude on the expanded Trans Mountain pipeline as what was estimated in 2017. In a decision issued

The words 'private equity' appearing above a laptop
News AlbertaB.C.BrokersInsurersManagementMergers and AqcuisitionsOntario

Has private equity interest in P&C brokerages peaked?

November 21, 2023 by Jason Contant

Private 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,

Winter driving on a slippery road
News AlbertaB.C.ClaimsManitobaNew BrunswickNewfoundland & LabradorNova ScotiaOntarioP.E.I.Personal AutoQuebecSaskatchewan

Why more Canadian drivers are using winter tires

November 14, 2023 by Jason Contant

Winter tire use in Canada is increasing, with 71% of polled Canadian drivers outside of Quebec now using winter tires, up from 63% in 2022, according to a survey conducted by Leger for the Tire and Rubber Association of Canada

a car alone in a dimly lit parking lot
News AlbertaBrokersClaimsCommercial AutoEmerging RisksInsurersLoss TrendsOntarioPersonal AutoQuebec

The Top 10 stolen cars in Canada

November 14, 2023 by Alyssa DiSabatino

For the second year in a row, the Honda CR-V was the most stolen vehicle in Canada, according to Équité Association.  The auto insurance fraud prevention organization today announced its Top 10 Most Stolen Vehicles in Canada, which now includes