Topic Management
How to develop the P&C industry’s future leaders
November 8, 2022 by Jason ContantIt’s important for women in Canada’s insurance industry to hear stories about the paths other women leaders have taken to achieve success, said the winner of a national leadership award from the Insurance Institute of Canada. “We need to give…
What happens to wealth advisors when P&C brokers buy them out?
November 4, 2022 by Philip PoradoSuccession planning is a key component of the acquisition strategies employed by P&C brokers buying wealth management, retirement planning and employee benefits advisories. That said, P&C brokerage buyers aren’t looking for the sellers to leave right away after the sale.…
The best way to support young prospective broker owners
November 4, 2022 by Alyssa DiSabatinoMentorship and training are the best ways to support young brokers who aspire to senior leadership or brokerage ownership roles, say brokers responding to a Canadian Underwriter online survey. However, brokerage principals and their employees aren’t fully aligned on how…
New senior executive for two major P&C brand names
November 2, 2022 by Jason ContantInsurance industry veteran Guy Lecours has been appointed chief operating officer of L’Unique and Unica, effective Nov. 21. Christian Fournier, executive vice president and lead of property and casualty insurance at Beneva, announced the appointment Wednesday. Lecours succeeds Yves Gagnon,…
Selling your brokerage? How to look attractive for buyers
October 26, 2022 by Philip PoradoPortfolio analysis is key to buying or selling brokerages, and some portfolios are more attractive than others, Herb Cline, president of CF2K Strategic Consultants, told a session at the Insurance Brokers Association of Ontario’s recent convention. “The flavor of the…
Why brokers won’t be the next Blockbuster
October 21, 2022 by Alyssa DiSabatinoBrokerages won’t suffer the same downfall as Blockbuster did over a decade ago, says one broker exec, because the broker channel has already begun addressing and responding to one industry blind spot — technology. That said, there are ways that…
New CEO in 2023 for Westland Insurance
October 20, 2022 by Jason ContantJamie Lyons will become the president and CEO of Westland Insurance Group effective Jan. 1, 2023, the brokerage announced Thursday. Current CEO Jason Wubs will transition to the newly created role of vice chairman, head of mergers & acquisitions and…
Definity acquires majority stake in an Ontario brokerage
October 7, 2022 by Jason ContantDefinity Financial Corporation has increased its ownership interest in Ontario-based brokerage McDougall Insurance from approximately 25% to 75%, “building a broker partnership with proven M&A expertise.” The partnership is for a cash consideration of $217 million (subject to post-closing adjustments),…
Where DEI training doesn’t work
October 6, 2022 by Alyssa DiSabatinoIncorporating diversity, equity and inclusion (DEI) successfully into the workplace has to come from a genuine desire to improve a workplace culture rather than as a way to check boxes, speakers said in a RIMS Canada Conference panel discussion. “Often…
How changing bond yields can help insurers fill their coffers
September 30, 2022 by Canadian Underwriter StaffBond investments make up a large percentage of insurance companies’ investment portfolios. And bond investors have faced challenges throughout 2022, with rising yields causing returns to lag at historic levels, Michael Cook, vice president, client relations & LDI client portfolio…
How to use captives to manage employee benefits risks
September 28, 2022 by Mauricio SuarezBy recent counts, more than 7,000 captive insurance companies exist globally, used primarily by multinational companies to take control of various risks. And yet, fewer than 200 of them are used to write employee benefits (EB) risks. Which means less…
How rising interest rates impact insurers’ investment decisions
September 23, 2022 by Philip PoradoRecent interest rate hikes aimed at curbing inflation, and the potential for more rate hikes next year, has the insurance industry keeping an eye on its investment returns. But while the transition from a low-interest-rate environment to a higher-rate environment…