Topic Mergers and Aqcuisitions
Behind the scenes of Hub’s latest Canadian acquisition
November 6, 2023 by Jason ContantIn a bid to shore up its personal and commercial insurance capabilities, Hub International Limited has acquired the assets of Quebec-based D’Onofrio Insurance Inc. Located in Laval, Que., D’Onofrio Insurance is an independent brokerage offering personal and commercial insurance to…
International actuarial firm acquires MSA Research
November 2, 2023 by David GambrillValani Global, an actuarial modeling and financial reporting firm with operations in Canada and the United States, has acquired MSA Research, a Canadian analytical research firm specializing in the insurance industry. Terms of the deal were not disclosed. “This acquisition…
McFarlan Rowlands acquires two brokerages
November 1, 2023 by Alyssa DiSabatinoMcFarlan Rowlands Insurance Brokers Inc. today announced the acquisition of McConville Omni Insurance Brokers Ltd. and T.G. Colley & Sons Ltd. These acquisitions enable McFarlan Rowlands to expand in the southwestern Ontario region, the brokerage said in a release. …
Why McFarlan Rowlands decided to sell
October 27, 2023 by Alyssa DiSabatinoA desire for scale, coupled with a rapid succession of shareholder retirements, compelled McFarlan Rowlands to sell to a subsidiary of Definity earlier this year, a senior exec told the Insurance Brokers’ Association of Ontario’s annual convention in Toronto. …
Accelerant scoops up Omega Insurance Holdings
October 27, 2023 by David GambrillAccelerant Holdings U.K. Ltd. has officially entered the Canadian property and casualty insurance market, closing the deal to acquire Omega Insurance Holdings Inc. from Till Capital Corporation. Accelerant will pay Till Capital approximately $13 million Cdn in exchange for all…
Why a large-scale brokerage merger may be on tap in 2024
October 20, 2023 by Alyssa DiSabatinoThe persistent pace of M&A activity in 2023 will remain undaunted in the new year, and as activity hastens, the industry can expect organic growth to be challenged, one expert shared during a recent broker convention. “I wouldn’t be surprised…
How higher interest rates and inflation affect brokerage M&A
October 19, 2023 by Jason ContantFinancial institutions, more often than not, have surplus capital. “To satisfy their shareholders, either they need to invest that capital or buy into businesses so they can have a return,” notes Suzanne Pountney, president of Insurance Brokers Association of Ontario…
What consolidators look at before buying a brokerage
October 16, 2023 by Jason ContantBuyers of Canadian P&C brokerages are becoming more selective in their M&A targets, with an increased focus on future profitability, Vancouver-based advisory firm Smythe LLP told Canadian Underwriter. Purchasers are still quoting high revenue multiples and prices aren’t necessarily decreasing,…
The driving factor behind Navacord’s mergers
October 13, 2023 by Alyssa DiSabatinoFresh from completing three mergers this month, Navacord president and CEO Shawn DeSantis tells Canadian Underwriter the company is working to expand its geographic presence and build national scale. In British Columbia, Navacord announced its latest deal with Harbord Insurance…
BrokerLink completes largest Alberta acquisition to date
October 12, 2023 by Jason ContantBrokerLink has completed its largest acquisition to date in Alberta with the purchase of Alpine Insurance Inc., the brokerage announced Wednesday. The brokerage also acquired Ontario-based Eagen Insurance Brokers Inc. Both deals were effective Oct. 1. “Alpine Insurance marks BrokerLink’s…
Westland grows with Ontario brokerage acquisition
October 11, 2023 by Jason ContantWestland has expanded in Ontario with the acquisition of family-owned brokerage David H. Coons Insurance Brokers Ltd. With roots tracing back to 1966, David H. Coons Insurance offers home, auto, commercial and travel insurance from its Burlington, Ont. office. The…
Next up in Navacord’s merging spree
October 10, 2023 by Alyssa DiSabatinoNavacord brokerages Allwest Insurance and Waypoint Insurance Inc. will be merging under the Waypoint banner, effective Nov. 1. The two B.C. brokerages are joining forces to combine the strengths and expertises of both companies, Navacord said in a press…