Canadian Underwriter

Topic Mergers and Aqcuisitions

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The advantage of merging insurers by telework

November 27, 2020 by Greg Meckbach

When COVID-19 was officially declared a pandemic nearly nine months ago, Jean-François Chalifoux was helping to lead the merger that formed Canada’s largest mutual insurer. “I was in Montreal March 12 [2020] and at 11:00 a.m. sharp, the [National Hockey

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AXA XL names new chief agent

November 25, 2020 by Greg Meckbach

Glen Hopkinson is now interim country manager in Canada for AXA XL Insurance. Urs Uhlmann had been AXA XL’s Canadian country manager from 2018 until this past October. On his LinkedIn profile, Uhlmann reports he is now “open for exciting

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Two ways COVID-19 affected this large brokerage’s M&A strategy

November 20, 2020 by Jason Contant

The COVID-19 pandemic required one large Canadian brokerage to take a “very different approach” to mergers and acquisitions (M&A) activity. COVID affected the M&A process in two significant ways, Jamie Lyons, president and chief operating officer with Westland Insurance Group

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Opinion: Looking to acquire? Don’t forget about intellectual property

November 19, 2020 by Kristian Kolsaker and Angus Marshall, CFC Underwriting

Intellectual property rights are a crucial part of any merger or acquisition so it’s important, whether you are engaging in an industry merger or advising clients on a deal, to consider ways to avoid potential infringements. Intellectual property (IP) has

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How long Intact has been contemplating RSA acquisition

November 19, 2020 by Greg Meckbach

Executives with Canada’s largest property and casualty insurer have had their eye on RSA for a long time, the CEO of Intact Financial Corp. said recently. Intact Financial Corp. announced Wednesday that a deal to acquire RSA PLC has been

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Where The Guarantee Company’s CEO landed after Intact acquisition

November 18, 2020 by Greg Meckbach

Stephen Ruschak, who led The Guarantee Company of North America at the time it was acquired by Intact Financial Corp., is now working for Arch Capital Group Ltd. Bermuda-based Arch Capital announced Tuesday that Ruschak is now executive vice president

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How Intact will decide what becomes of RSA Canada’s brands

November 18, 2020 by Greg Meckbach

If Intact Financial Corp. takes over RSA Canada, the combined firm will go to market with the “strongest” brands, meaning it remains to be seen what happens in Canada to brands such as RSA, Unifund, and Johnson, Intact’s CEO suggested

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What the OneBeacon deal says about Intact’s prospects with RSA acquisition

November 17, 2020 by Greg Meckbach

Intact Financial Corp.’s recent experience writing commercial specialty in the United States is a good sign it could be successful writing property and casualty insurance overseas, analysts tell Canadian Underwriter. RSA plc and Intact announced earlier this month a possible

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Anti-trust issues unlikely if Intact acquires RSA Canada: Analyst

November 16, 2020 by Greg Meckbach

Intact Financial Corp. is unlikely to encounter any opposition from Canada’s competition regulator in acquiring RSA plc’s Canadian insurance operations, an expert from DBRS Morningstar predicts. “We see a material difference between the life insurance market and the P&C market

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Westland brokerage moves in an easterly direction

November 13, 2020 by Jason Contant

Westland Insurance’s mergers and acquisition strategy continues in an easterly direction from its roots in British Columbia. Just days after closing its first-ever brokerage acquisition in Ontario, Westland Insurance Group Ltd. announced its second acquisition in Manitoba. On Nov. 10,

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How Aon sees competition regulators’ review of Willis Towers Watson acquisition

November 11, 2020 by Greg Meckbach

It is still up to regulators to decide whether Aon plc will be allowed to acquire Willis Towers Watson plc, but Aon officials seem confident there won’t be a problem. During a recent earnings call, Aon executives were asked why

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Intact sets 50% growth target for BrokerLink

November 10, 2020 by Greg Meckbach

Intact Financial Corp. is aiming to grow its brokerage subsidiary to a $3-billion-a-year operation, CEO Charles Brindamour told investment banking analysts recently. “BrokerLink recently surpassed $2 billion in premiums as it continues to grow organically and through acquisitions,” Brindamour said