Canadian Underwriter

Topic Mergers and Aqcuisitions

News BrokersMergers and AqcuisitionsOperations

Big tax win for brokerage succession plans

June 28, 2021 by David Gambrill

Canadian property and casualty insurance brokers are applauding the passage of Bill C-208, which they say will ease the tax burden for brokerage principals who wish to sell their business to family members. “The changes proposed in Bill C-208 would

News B.C.ConstructionLegalMergers and Aqcuisitions

Global insurance law firm expands its Canadian presence

June 23, 2021 by David Gambrill

Global insurance law firm Clyde & Co will be entering the B.C. market through a merger with SHK Law Corporation in B.C., effective July 1. The terms of the merger were not disclosed. B.C.’s property and casualty insurance market is

News BrokersCommercialLegalManagementMergers and AqcuisitionsOperationsQuebecRisk Managers

BFL president reacts to regulator’s effort to prevent Aon-Willis merger

June 23, 2021 by Greg Meckbach

In trying to block Aon plc’s proposed acquisition of Willis Towers Watson plc, the United States competition regulator is off the mark in how it describes the world’s three-biggest property and casualty commercial insurance brokerages, suggests a senior executive with

News CommercialLegalMergers and Aqcuisitions

Why the U.S. competition regulator wants to stop the Aon-Willis merger

June 17, 2021 by Greg Meckbach

Almost all large firms in the United States buy their property and casualty insurance through either Marsh, Aon or Willis Towers Watson, the latter two of the ‘Big Three’ having market share of more than 40% in property and liability

News InsurersMergers and Aqcuisitions

Intact agrees to sell former RSA operation for $1.26 billion

June 14, 2021 by Greg Meckbach

Less than two weeks after the takeover of RSA plc closed, the insurers who bought RSA are now agreeing to sell RSA’s former operation in Denmark. At the moment, Toronto-based Intact Financial Corp. owns half of Codan Forsikring A/S’s Danish

News AlbertaBrokersCommercialMergers and AqcuisitionsNew BrunswickNova ScotiaOntarioOperationsPersonal AutoPersonal Home

M&A growth sets Navacord on course for $3 billion in premium

June 10, 2021 by Jason Contant

Navacord Corp. has finalized a record number of brokerage acquisitions in one month, with four deals already closed across the country in June. The latest transactions represent a total of 18 new locations and over 430 employees. More deals are

News BrokersCommercialMergers and AqcuisitionsPersonal AutoPersonal HomeSaskatchewan

Westland closes two new acquisitions in Canada

June 8, 2021 by Jason Contant

Westland Insurance Group Ltd. has closed two new acquisitions in Saskatchewan, both in locations where the large brokerage didn’t have a presence before. The brokerage announced Monday it had closed the acquisitions of HK Insurance in Regina and Smith Agencies

News InsurersMergers and Aqcuisitions

How high Intact’s market share could climb before competition becomes an issue

May 18, 2021 by Greg Meckbach

Intact’s market share could approach 30% before it potentially runs into resistance from domestic competition regulators, a senior executive suggested Tuesday. After the closure of the three-way deal for Intact and Tryg A/S to acquire RSA plc, Intact will have

News CommercialMergers and Aqcuisitions

Next steps for integrating RSA into Intact

May 17, 2021 by Greg Meckbach

As Intact puts the “final touches” on its proposed acquisition of RSA Canada, Intact’s executives say they may be looking at “strategic alternatives” for some of the RSA plc operations it has agreed to acquire. During Intact’s 2021 Q1 earnings

News AlbertaBrokersInsurersLegalLicensingMergers and Aqcuisitions

Inactive Alberta brokerage ordered to pay $6K for failing to remit client funds to MGA

May 14, 2021 by David Gambrill

Alberta-based NIB Insurance Group Ltd., now an inactive brokerage, has been ordered to pay $6,000 in civil penalties for failing to remit client premiums to an MGA, and for selling a policy to a client while it was no longer

News BrokersCommercialConstructionCyberMergers and AqcuisitionsOperationsTrending

Gallagher to acquire certain Willis Towers Watson assets

May 12, 2021 by Jason Contant

Arthur J. Gallagher & Co. has announced an agreement to acquire certain Willis Towers Watson reinsurance, specialty and retail brokerage operations as part of a proposed “regulatory remedy” for the pending Aon and Willis Towers Watson deal. Under the agreement,

News AlbertaBrokersCommercialMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal HomeSaskatchewan

Merger mania: Multiple brokerage deals announced in May

May 11, 2021 by Jason Contant

May 2021 came in with a bang for Canadian brokerages involved in mergers and acquisitions activity, particularly in western Canada and Ontario.  Over the course of a week, at least seven acquisitions were announced in the Canadian P&C brokerage space.