Topic Mergers and Aqcuisitions
Why consolidation slows down service levels
June 21, 2023 by Alyssa DiSabatinoConsolidators will have to tread the line between growing rapidly while also ensuring growth doesn’t hinder operations, particularly customer service, said experts at an industry panel. Amid consolidation, small and medium-sized brokerages will be able to remain competitive if they…
What private equity firms have in common with insurance distributers
June 20, 2023 by Mitch Green and Ethan WolfePrivate equity (PE) firms are frequently described as caring more about themselves and their investors than their entrepreneur partners. Or they’re called whiz kids who don’t fully understand the industries into which they insert themselves. However, much like top-tier brokerages,…
Brokerage M&A activity spikes in era of high interest rates
June 19, 2023 by Alyssa DiSabatinoOntario saw a record 48 finalized brokerage transactions in 2022, mostly led by consolidators, said Suzanne Pountney, president of the Insurance Brokers Association of Ontario (IBAO), during the Young Broker Conference in Niagara Falls. “This is up 60% over last…
McDougall expands into Alberta through M&A
June 14, 2023 by David GambrillWith McDougall Insurance Brokers now within the Definity fold, the brokerage has made a splash in the merger game, cutting a deal to acquire Alberta-based Drayden Insurance. McDougall announced it has entered into a definitive agreement to acquire 100% of…
Acquisition broadens NFP’s Ontario base
June 8, 2023 by Philip PoradoNFP has acquired Rhodes & Williams Ltd. in a transaction that closed May 24, the company said in a press release. The move expands NFP’s Ontario presence “and increases its P&C capabilities and scale across personal risk and commercial lines,”…
Will fewer mergers reduce reps and warranties insurance pricing?
June 7, 2023 by Jason ContantPricing in the representations and warranties (R&W) insurance market has softened relative to the hard market conditions experienced from the start of 2021 into the first half of 2022, industry professionals told CU. R&W insurance protects against financial loss arising…
Westland widens Ontario footprint with new acquisitions
June 7, 2023 by Alyssa DiSabatinoWestland Insurance has acquired two Ontario-based brokerages, MYCOR Insurance Solutions Inc. and Murphy Insurance Services Inc., further expanding its fleet in the province. The acquisitions, effective June 1, will enable Westland to continue growing in Canada, “both organically and through…
BrokerLink buys Burlington brokerage
June 6, 2023 by Philip PoradoFor the sixth time so far in 2023, BrokerLink has grown its market share through M&A, this time with the acquisition of Burlington, Ont.-based T.K. WoodMar Insurance & Financial Group. WoodMar has offered commercial (business owner, liability and commercial vehicle),…
Fifty shades of broker independence
May 26, 2023 by David GambrillIn a world dominated by growth via mergers and acquisitions, Canadian brokerages are operating under a variety of ownership models, making the modern concept of “broker independence” very nuanced, panellists observed Thursday in a Live with CU panel discussion. “I…
BrokerLink president shares thoughts on brokerage M&A
May 24, 2023 by Jason ContantBrokerLink still sees plenty of M&A opportunities in provinces where it currently operates and doesn’t have any immediate plans to expand into new geographic areas, the brokerage’s president told Canadian Underwriter in an interview Tuesday. BrokerLink is focusing its resources…
Navacord announces its biggest deal yet
May 24, 2023 by David GambrillNavacord has invested heavily into its wealth management and group benefits capabilities, acquiring RWAM Insurance Administrators Inc and Programmed Insurance Brokers (PIB) Inc. “As Navacord’s largest transaction to date, the partnerships with RWAM and Programmed Insurance Brokers Inc. underscore Navacord’s…
Live with CU | Declarations of (broker) independence
May 19, 2023 by Canadian Underwriter StaffGiven all of the M&A activity in the broker channel over the past two decades, has the definition of what it means to be an “independent” broker changed? In Canadian Underwriter‘s 2023 national survey of more than 150 brokers, 48%…