Topic Mergers and Aqcuisitions
By much how did M&A deals increase year over year?
July 19, 2022 by Jason ContantThe M&A market continues to burn red-hot, with deals for property & casualty and benefits brokers in Canada and the United States up 16% in the first half of 2022 compared to 2021, according to M&A advisory firm OPTIS Partners.…
Gallagher buys Canadian executive search firm
July 18, 2022 by Jason ContantIn an age of non-stop brokerage-to-brokerage M&A, Arthur J. Gallagher & Co. has taken a different approach with its latest acquisition. Rolling Meadows, Ill.-based Gallagher today announced acquisition of Toronto-based Four Corners Group Inc., an executive search firm operating throughout…
BrokerLink closes three more acquisitions across Canada
July 15, 2022 by Jason ContantBrokerLink is continuing its expansion into Alberta, Ontario and Atlantic Canada with the acquisition of three more brokerages over the past couple months. A subsidiary of Intact Financial Corporation, BrokerLink closed the acquisition of New Brunswick-based McTague Insurance on June…
Reinsurer makes executive changes after M&A deal closes
July 13, 2022 by David GambrillPartnerRe Ltd. made a few executive-level shuffles Wednesday, marking the close of a December 2021 deal in which Covéa agreed to buy Partner Re from Exor for $9 billion in cash. Thierry Derez, CEO of Covéa Group, is replacing Brian…
Two ways brokers can tame the market-consolidation juggernaut
June 28, 2022 by Alyssa DiSabatinoBuilding relationships across the industry and offering consistency can help brokers overcome a slew of future challenges, including quickening market consolidation, an impending recession, diminished capacity and the hard market, say broker executives. “In order to be able to meet…
How much of the industry will change hands in five years: Intact exec
June 22, 2022 by Alyssa DiSabatinoCanada’s largest insurer thinks 15% of insurers will undergo ownership changes in the next five years. “We predict that about 15% of the existing market shares will change hands in the next five years,” said Louis Gagnon, CEO of Intact…
Three key issues facing the broker channel
June 21, 2022 by Alyssa DiSabatinoExpect the quickening pace of mergers and acquisitions (M&A) activity to present a big challenge — or advantage — to brokers, Joseph Carnevale, president at Insurance Brokers Association of Ontario, said at the Young Brokers Conference. The Insurance Broker…
Axis Insurance acquires specialist broker
June 17, 2022 by Jason ContantOne of British Columbia’s largest brokerages, Axis Insurance Managers, has completed its acquisition of BMG Insurance Brokers, a Western Canada-based brokerage that specializes in aviation and aerospace risks. Vancouver-based Axis completed the acquisition of privately-owned BMG Aviation Ltd. (doing business…
Canadian P&C brokerage space sees four M&A deals in June
June 8, 2022 by Jason ContantMerger and acquisition activity in the Canadian P&C insurance industry is showing no sign of slowing down in the second half of 2022, with the announcement of four transactions by three brokerages already since the beginning of June. McDougall Insurance…
Where M&A strategies are leading brokerages, big or small
June 6, 2022 by Jason ContantLarge Canadian P&C brokerages continue to make national expansion a component of their acquisition strategies. National brokerage Navacord partnered with Abatis Risk Management (Abatis Gestion de Risques inc.) in March, which was Navacord’s first partnership in Quebec, according to Navacord…
Westland expands reach into Ontario with recent acquisitions
May 27, 2022 by Alyssa DiSabatinoWestland Insurance Group Ltd. has broadened its place in commercial and personal lines with the recent acquisition of two Ontario-based brokerages: MCR Insurance in Aurora and Walter Roberts Insurance in Richmond Hill. Ontario is an area of strategic importance, Westland…
Where have all the good underwriters gone?
May 12, 2022 by Gloria CilliersFor years, insurers have poached commercial underwriters from one another amid M&A activity, an aging population and hard/soft markets. But that’s left the industry with less seasoned talent and slower investment in acquisition, training and retention. “Suddenly, more so than…