Canadian Underwriter

Topic Mergers and Aqcuisitions

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Buy or build: What surveyed Canadian businesses prefer

September 29, 2021 by Jason Contant

Small- 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

Togetherness concept
News BrokersMergers and AqcuisitionsTechnology

Strong M&A activity driven by massive push for scale, digitization: PwC Canada

September 27, 2021 by Canadian Underwriter Staff

The 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

News InsurersMergers and Aqcuisitions

Biggest insurers will soon control more of the market: A.M. Best

September 16, 2021 by Greg Meckbach

Canada’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

News BrokersCommercialMergers and Aqcuisitions

Westland announces third acquisition in one-week period

September 15, 2021 by Jason Contant

Westland 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

looking up car insurance rates on a laptop
News Commercial AutoMergers and AqcuisitionsPersonal AutoPersonal Home

RATESDOTCA acquires LowestRates.ca

September 14, 2021 by Jason Contant

Editor’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,

News BrokersCommercialInsurersMergers and AqcuisitionsMGAs

Why and where Intact wants to buy more MGAs

September 12, 2021 by Greg Meckbach

Don’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

News AlbertaBrokersCommercialMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal Home

New M&A deals involve Westland, Armour Group

September 9, 2021 by Jason Contant

After 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

News ClaimsCommercialMergers and Aqcuisitions

2021 set to be record year for M&A insurance: report

August 31, 2021 by Canadian Underwriter Staff

This 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

road with horizon
News AlbertaBrokersMergers and AqcuisitionsTechnology

What independent brokers expect from insurers post-pandemic: Canadian Broker Network

August 19, 2021 by Canadian Underwriter Staff

As 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

News Mergers and AqcuisitionsPersonal Auto

Classic car coverage provider Hagerty could become publicly-traded

August 18, 2021 by Greg Meckbach

Hagerty 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

News BrokersCommercialMergers and Aqcuisitions

How brokers like BFL are recruiting talent to serve large international accounts

August 13, 2021 by Greg Meckbach

Uncertainty 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

News BrokersInsurersManagementMergers and AqcuisitionsOperations

More room for industry consolidation and Intact wants to keep growing: CFO

August 11, 2021 by Greg Meckbach

Intact 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