Topic Mergers and Aqcuisitions
Buy or build: What surveyed Canadian businesses prefer
September 29, 2021 by Jason ContantSmall- and medium-sized enterprises (SME) surveyed by KPMG Canada have identified organic growth as a top strategy, followed by digital technology investments. Of the 505 respondents to KPMG’s Business Outlook Poll, nearly three-quarters (71%) identified organic growth as a top…
Strong M&A activity driven by massive push for scale, digitization: PwC Canada
September 27, 2021 by Canadian Underwriter StaffThe race to achieve scale, connect digitally with customers and realize synergies are driving continued strong M&A activity in P&C insurance, a recent PricewaterhouseCoopers (PwC) Canada report suggests. Valuations remain at “historic highs” for insurance brokers and MGAs, bringing new…
Biggest insurers will soon control more of the market: A.M. Best
September 16, 2021 by Greg MeckbachCanada’s Top 5 property and casualty insurers control nearly half the market, with the largest increasing their market share further, an A.M. Best Company analyst said Wednesday. About two-thirds of direct premiums written, in Canadian P&C insurance, are controlled by…
Westland announces third acquisition in one-week period
September 15, 2021 by Jason ContantWestland Insurance Group Ltd. has announced the acquisition of Tredd Insurance Brokers in Toronto and Calgary, one week after it acquired two other brokerages in Alberta. Tredd Insurance offers commercial insurance, with specialties including but not limited to transportation, oil…
RATESDOTCA acquires LowestRates.ca
September 14, 2021 by Jason ContantEditor’s Note: This story has been updated to include information from RATESDOTCA. Rate comparison site RATESDOTCA has acquired fellow aggregator LowestRates.ca. LowestRates.ca will continue to operate as a separate site and independent source of financial services information and rates,…
Why and where Intact wants to buy more MGAs
September 12, 2021 by Greg MeckbachDon’t be surprised if Intact Financial Corp. buys managing general agents in the United States who place commercial specialty insurance. “We think there is a big opportunity at the MGA level. We are still focused on that,” Intact CEO Charles…
New M&A deals involve Westland, Armour Group
September 9, 2021 by Jason ContantAfter a brief lull in mergers and acquisitions activity, the Canadian P&C insurance space has seen a surge in recent announcements. Large Canadian-owned brokerage Westland Insurance Group Ltd. said on Tuesday it had acquired two Alberta brokerages: Riverstone Insurance in…
2021 set to be record year for M&A insurance: report
August 31, 2021 by Canadian Underwriter StaffThis year will be a record year for mergers and acquisitions insurance, a recent report by global independent broker BMS Group estimates. The inaugural Private Equity, M&A and Tax Insurance Report, released in May, found that while the COVID-19 pandemic…
What independent brokers expect from insurers post-pandemic: Canadian Broker Network
August 19, 2021 by Canadian Underwriter StaffAs Canada emerges from the COVID-19 pandemic, independent brokers will place strategic alliances with insurers at the top of their expectations list, members of the Canadian Broker Network (CBN) said. “The pandemic has significantly increased the awareness and consideration for…
Classic car coverage provider Hagerty could become publicly-traded
August 18, 2021 by Greg MeckbachHagerty Group LLC announced Wednesday it has agreed to merge with a special purpose acquisition company, a deal that is expected to result in the classic car insurance provider becoming publicly-traded on a stock exchange. Hagerty Canada LLC, a licensed…
How brokers like BFL are recruiting talent to serve large international accounts
August 13, 2021 by Greg MeckbachUncertainty over mega-brokerage mergers provide an opportunity for other brokerages to acquire quality talent, a senior manager with Montreal-based BFL Canada suggests. “Recently, firms like BFL have reinforced their large account talent pool with various leaders, claims, captive experts, surety…
More room for industry consolidation and Intact wants to keep growing: CFO
August 11, 2021 by Greg MeckbachIntact is probably not finished acquiring more Canadian insurers even with its recent acquisition of RSA Canada. On June 1, Intact closed a three-way deal in which Intact and Tryg A/S acquired London-based RSA plc. As a result, Intact now…