Topic Mergers and Aqcuisitions
Why Intact beat its own expectations in recent quarters
February 9, 2022 by Jason ContantIntact Financial Corporation expects its combined ratio to marginally improve in Canada as it continues to beat its own financial result expectations, the insurer’s chief financial officer says during an earnings call. Canada’s largest insurer saw operating direct premiums written…
Westland’s newest brokerage acquisition
February 3, 2022 by Canadian Underwriter StaffWestland Insurance Group has continued its expansion spree, today announcing acquisition of Campbell, Roy & Eldridge Insurance Services. Markham, Ont.-based Campbell, Roy & Eldridge offers a wide range of coverages, including home, condo, auto, RV, motorcycle, boat, watercraft, business, trucking…
How Intact is faring with the RSA integration
February 3, 2022 by Jason ContantIntact Financial Corporation’s integration of RSA plc is on track, with earnings slightly better than originally anticipated, the insurer’s chief executive officer reports. The deal increases Intact’s specialty lines presence in North America by close to 30%, Intact Financial Corporation…
Canada’s most popular brokerage M&A models
January 24, 2022 by Jason ContantPrivate equity-backed brokerages that acquire 100% of a brokerage and then offer the ability to roll over some equity continue to be Canada’s most popular M&A model, but others are gaining traction, a P&C transaction advisor says. “While obtaining markets…
Looking to sell your brokerage? Here’s what to ask yourself first
January 21, 2022 by Jason ContantWhen it comes to selling your brokerage, timing is everything. Principals considering selling their brokerage should always ask themselves when is the best time to exit in terms of career and family situation, and then work backwards to plan from…
Inside Westland’s expansion strategy
January 14, 2022 by Alyssa DiSabatinoWestland Insurance has expanded its partnership with Blackstone Credit, which will be investing $250 million towards Westland’s acquisition strategy. And where will this M&A strategy focus next? “Our ambitions are to continue to grow, expand, to serve as many communities…
Westland’s M&A war chest expands
January 12, 2022 by Alyssa DiSabatinoWestland Insurance Group Ltd., a property and casualty insurance brokerage, has expanded its war chest for mergers and acquisitions, thanks to its partnership with asset manager Blackstone Credit. Blackstone will be investing an additional $250 million towards Westland’s growth, the…
Top 5 Canadian brokerage just got bigger
January 10, 2022 by Alyssa DiSabatinoNavacord Corp. has just partnered with Group Lockhart Inc., PGI Financial, and Maritime Group Benefits. Navacord’s brokerages offer commercial and personal insurance, surety, employee benefits, and retirement consulting. Ontario-based Group Lockhart Inc. and PGI Financial specialize in local small- to…
Westland acquires brokerages in Ontario, Alberta
January 7, 2022 by Jason ContantWestland Insurance has announced its first brokerage acquisitions of 2022 — Bunnell Hitchon Insurance Brokers in Ontario, and Rigby Insurance in Alberta. Bunnell Hitchon, in Brantford and Milton, Ont., was founded in 1890 and offers a wide range of personal…
Merger expands StoneRidge brokerage in Ontario
December 16, 2021 by Greg MeckbachStoneRidge Insurance Brokers has acquired John Stark & Company, a brokerage with offices in Barrie and Coldwater, Ont. Headquartered in the community of Ancaster, west of Hamilton, StoneRidge has more than 30 Ontario offices including Toronto, St. Catharines, London, Newmarket, Atikokan,…
Fast pace of private equity investments means more insurance placements for portfolio companies
December 14, 2021 by Jason ContantSpeed can equal success when a private equity firm is looking to acquire a company. But the rush to close a deal can also mean insurance gets put on the back burner. A private equity firm often buys a controlling…
Westland’s acquisition spree continues
December 10, 2021 by Jason ContantLarge independent Canadian-owned brokerage Westland Insurance Group Ltd. continues its acquisitions of western Canadian brokerages with the purchase of Reider Insurance. Westland announced Dec. 7 the acquisition of Reider Insurance in Winnipeg. It follows the acquisitions of Church Eaton Insurance of Calgary and…