Topic HR
2024 Executive Outlook | Ben Isotta-Riches, Aviva Canada
December 21, 2023 by Canadian Underwriter StaffBen Isotta-Riches, chief distribution officer, Aviva Canada I am cautiously optimistic about 2024. Across the country, the cost-of-living crisis, inflation and climate change continue to affect Canadians and businesses. In Ontario and Quebec, vehicle theft is adding to loss ratios in personal…
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…
MGA acquires Echelon’s surety division
December 11, 2023 by Jason ContantMontreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,…
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.…
What Canadian risk managers earned in 2023
December 7, 2023 by Alyssa DiSabatinoCanadian risk managers earned a median annual base salary of $122,000, according to a recent Risk Management Society (RIMS) survey. This accounts for a 1.6% increase from $120,000 in 2021, when RIMS last conducted this survey. However, the salary for Canadian…
U.S.-based insurance provider to acquire Sutton Special Risk
December 6, 2023 by Jason ContantNew York-headquartered insurance services provider Amynta Group has entered into a definitive agreement to acquire specialty insurance managing general underwriter (MGU) Sutton Special Risk Inc. “The acquisition of Sutton expands Amynta’s offerings in the accident and health market and accelerates…
Is your board looking at their own diversity?
December 5, 2023 by Jason ContantIt’s no longer sufficient for insurance industry board members to talk about diversity across the organization — boards need to actively look at their own diversity and address any gaps, KPMG suggested in a recent thought leadership piece. “To build…
Why you should use consumer advertising to recruit talent
December 4, 2023 by Jason ContantCanadian P&C insurance industry companies may want to consider leveraging existing consumer advertising tactics, including social media channels like TikTok, and apply them to recruitment efforts. It’s no secret the industry continues to face a ‘war for talent,’ particularly as…
What a buyers’ market means for brokerage M&A
December 1, 2023 by David GambrillHow can consolidators afford to buy brokerages when interest rates on bank loans to finance deals have steeply increased? Firms that are actively engaged in brokerage buying and selling told CU they have become more selective. “We are getting a…
How to recruit underwriters when job candidates get multiple offers
November 30, 2023 by Alyssa Di SabatinoCompetition for available qualified underwriting talent is fierce. “We’ve got candidates in the mix that will often have two or three offers in hand,” said Stefan Rolfe, associate director of insurance at Impact Recruitment. “And they can often bounce one…
Addressing a shortage of qualified commercial underwriters
November 28, 2023 by Alyssa Di SabatinoNicholas Hudescu is a rarity in the insurance industry. The 23-year-old attended Wilfrid Laurier University, earning a Bachelor of Business Administration degree specializing in insurance and risk management. While there, he joined the student-run Laurier Insurance and Risk Association (LIRA)…
Will rising interest rates kill brokerage M&A?
November 20, 2023 by David GambrillReports of the death of brokerage mergers and acquisitions in an era of higher interest rates have been greatly exaggerated. Back in early 2023, Canadian Underwriter’s National Broker Survey noticed a curious phenomenon: brokers’ interest in M&A growth had dipped…