Topic Alberta
BrokerLink completes 20 acquisitions in 2023
January 2, 2024 by Alyssa DiSabatinoBrokerLink 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…
How insurers can manage losses as NatCat events ramp up
December 18, 2023 by Philip PoradoWhatever’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…
Intact Insurance names president
December 15, 2023 by Jason ContantIntact 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…
Can Canada’s P&C industry catch up to NatCats?
December 14, 2023 by Philip PoradoIn 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…
This province is Hub’s latest benefits firms acquisition target
December 12, 2023 by Alyssa DiSabatinoGlobal 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…
Private equity firm acquires digital brokerage
December 8, 2023 by Jason ContantPrivate 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.…
Shipper costs to rise as regulator approves preliminary interim Trans Mountain tolls
December 1, 2023 by Amanda Stephenson - THE CANADIAN PRESSCALGARY – 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…
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,…
Why more Canadian drivers are using winter tires
November 14, 2023 by Jason ContantWinter 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…
The Top 10 stolen cars in Canada
November 14, 2023 by Alyssa DiSabatinoFor 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…
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,…
Brokerage, carrier partner up to offer digital auto coverage
November 7, 2023 by Jason ContantSquare One Insurance Services and Zurich Canada have partnered to offer personal auto insurance to Ontario drivers, with a Quebec and Alberta rollout planned for early 2024. “What sets this offering apart is our fully digital experience that allows our…