Canadian Underwriter

Topic Mergers and Aqcuisitions

Unique contrast freedom hope leadership concept, red man looking at sky from the crowd, surreal painting illustration
News BrokersInsurersMergers and AqcuisitionsOperations

Fifty shades of broker independence

May 26, 2023 by David Gambrill

In 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

Talent acquisition concept
News AlbertaBrokersCommercialHRManagementMergers and AqcuisitionsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioPersonal AutoPersonal Home

BrokerLink president shares thoughts on brokerage M&A

May 24, 2023 by Jason Contant

BrokerLink 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

Business signing a piece of paper at a desk with an oversized pen
News AlbertaB.C.BrokersCommercialInsurersMergers and AqcuisitionsOntario

Navacord announces its biggest deal yet

May 24, 2023 by David Gambrill

Navacord has invested heavily into its wealth management and group benefits capabilities, acquiring RWAM Insurance Administrators Inc and Programmed Insurance Brokers (PIB) Inc. “As Navacord’s largest transaction to date, the partnerships with RWAM and Programmed Insurance Brokers Inc. underscore Navacord’s

Network of wooden blocks with human icons
News BrokersMergers and Aqcuisitions

Declarations of (broker) independence

May 19, 2023 by Canadian Underwriter Staff

Given 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%

Two groups in parentheses strive for unity. Generalization and reunification into a larger organization. Merger of companies, joining forces. Reconciliation and consensus.
News BrokersCommercialInsurersMergers and AqcuisitionsPersonal AutoPersonal Home

McDougall-McFarlan merger just the beginning for Definity

May 15, 2023 by David Gambrill

McDougall’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

Jigsaw puzzle pieces - M&A concept
News BrokersHRMergers and AqcuisitionsOntario

IBAO CEO’s thoughts on McDougall-McFarlan Rowlands merger

May 10, 2023 by Jason Contant

McDougall 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,

Purchasing cannabis with a credit card
News CannabisClaimsClaims Canada ArchiveCommercialInsurersLegalLiabilityLoss TrendsMergers and AqcuisitionsMGAsSupply Chain

How is the cannabis insurance market faring? 

May 9, 2023 by Jason Contant

Four-and-a-half years after recreational marijuana use was legalized in Canada, cannabis companies continue to face a number of challenges, including insolvency, consolidation and low or flat growth, according to a recent report from EY Canada. “Established/mature markets — including Canada,

Group of businesspeople holding jigsaw puzzle pieces
News BrokersHRMergers and AqcuisitionsOntarioOperations

Definity’s McDougall merges with McFarlan Rowlands 

May 8, 2023 by Jason Contant

Large 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

Mergers and acquisitions concept
News BrokersCommercialCommercial AutoMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal Home

Westland expands reach in Ontario with latest acquisition

May 5, 2023 by Jason Contant

Westland 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

Vice pushing on both side of businessman to represent the hard insurance market
News BrokersCommercialCommercial AutoConstructionCyberEmerging RisksInsurersMergers and AqcuisitionsPropertyTechnologyTrusted Advisor

Brokers still worry about the hard market, but what’s next?

May 1, 2023 by Philip Porado

Although Canadian property and casualty (P&C) insurance brokers still call the hard market their greatest challenge, their overall level of concern is gradually waning. So found Canadian Underwriter’s 2023 National Broker Survey, in which more than 150 brokers nationwide expressed

Laying a brick wall to represent building a business
News BrokersHRInsurersMergers and AqcuisitionsOperationsTechnology

Brokers optimistic about growth, but support for 2 key M&A strategies declines

May 1, 2023 by Philip Porado

While property and casualty (P&C) insurance brokers in Canada said they’re optimistic about the future, Canadian Underwriter‘s 2023 National Broker Survey shows declining support for two key brokerage growth strategies, including M&A. When asked about expected financial performance in 2023,

We've got ourselves a deal
News B.C.BrokersCommercialHRMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal Home

Navacord makes largest acquisition of the year

April 24, 2023 by Jason Contant

Navacord 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