Brokerage owners shouldn’t just invest in digitization for its own sake, says one financial advisor. They should do it to make a purchase and integration easier for consolidators. Consolidators don’t necessarily expect small brokerages to digitize before acquisition, said Alex…
Small or family-owned brokerages prioritizing digitization strategies will be in a better position to grow through a merger or acquisition, experts told Canadian Underwriter. But it may be easier said than done, given financial or resource constraints faced by many…
Definity Financial Corporation is interested in both P&C brokerage and carrier acquisitions, the insurer’s president and CEO Rowan Saunders confirmed during a recent virtual fireside chat with RBC Capital Markets. “Even though we’ve just recently done a significant acquisition in…
With the older generation of brokers retiring, opportunities are abound for young brokers who want to buy into an existing independent brokerage, said panellists in Canadian Underwriter’s LinkedIn Live event, ‘How to become a young brokerage owner.’ “[Independent broker owners]…
Dating takes time, and hours of preparation – even The Bachelor takes a full season for the prospective bride-to-be to sort through all the contestants. And the process of selling your brokerage is no different, according to a brokerage M&A…
Westland Insurance Group is looking to evolve its leadership and talent by bringing in different backgrounds and perspectives, the brokerage’s outgoing CEO, Jason Wubs, told Canadian Underwriter in a recent interview. Effective Jan. 1, 2023, Jamie Lyons will become president…
A consistent stream of property and casualty brokerage acquisition announcements over the past few years likely has a lot of brokerage owners thinking about how they’ll eventually exit the business. For most sales transactions, there are three basic options. One…
Property and casualty insurance market cycles are by no means ‘dead’ — not because of insurers’ competitive behaviour, but because claims cost shocks often trigger the need to shore up pricing, according to Intact Financial Corporation CEO Charles Brindamour. Brindamour…
BrokerLink continues to expand in Ontario and Alberta with the acquisition of three more brokerages in those provinces. The Intact Financial Corporation subsidiary acquired D.G. Smith Insurance Brokers and Teck Insurance Brokers Limited (both Ontario-based) and Robinson Insurance Centre of…
What’s the biggest barrier to brokerage ownership for the 30% of brokers who aspire to one-day buy their own firm? Financing, according to results from a Canadian Underwriter online survey. Of the 30% of broker respondents who want to own, exactly…
In the inaugural 15-minute episode of CU’s What’s on Dec?, Smythe LLP partner Mike Berris discusses how market forces affect multiples and brokers’ selling habits. He also talks about how the current interest rates will influence M&A activity, business issues…
Succession 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.…