Canadian Underwriter

Topic Mergers and Aqcuisitions

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B.C. institutional investor to acquire consolidator of P&C run-off books

December 4, 2020 by Jason Contant

One of Canada’s largest institutional investors has joined forces with Cinven, an international private equity firm, to acquire Compre, a specialist global consolidator of closed books of non-life insurance policies. Victoria-based British Columbia Investment Management Corporation (BCI) and Cinven announced

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Who is funding many of these insurance mergers

December 4, 2020 by Greg Meckbach

The industry continues to consolidate and pension funds are one major source of capital for insurers, a Montreal-based merger and acquisition expert observes. “One or two notable [carrier M&A] transactions per year has slowly transformed the Canadian landscape, including the

News InsurersMergers and AqcuisitionsQuebec

How La Capitale and SSQ came up with its post-merger brand name

December 3, 2020 by Greg Meckbach

La Capitale and SSQ Insurance, two Quebec-based mutuals that merged this past July, announced Thursday they plan to go to market as Beneva. “Beneva is an invented word. You won’t find it any dictionary,” said Jean-François Chalifoux, CEO of La

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Investors increasingly asking about insurers’ environmental practices: CFOs

December 2, 2020 by Jason Contant

Investors are increasingly asking insurers about environmental, social and corporate governance (ESG) practices and how they are being managed, Intact Financial Corporation’s senior vice president and chief financial officer, Louis Marcotte, said recently. “In some cases, when we meet investors,

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The advantage of merging insurers by telework

November 27, 2020 by Greg Meckbach

When COVID-19 was officially declared a pandemic nearly nine months ago, Jean-François Chalifoux was helping to lead the merger that formed Canada’s largest mutual insurer. “I was in Montreal March 12 [2020] and at 11:00 a.m. sharp, the [National Hockey

News Claims Canada ArchiveClaims ProfessionalsInsurersLiabilityMergers and Aqcuisitions

AXA XL names new chief agent

November 25, 2020 by Greg Meckbach

Glen Hopkinson is now interim country manager in Canada for AXA XL Insurance. Urs Uhlmann had been AXA XL’s Canadian country manager from 2018 until this past October. On his LinkedIn profile, Uhlmann reports he is now “open for exciting

News B.C.BrokersManagementManitobaMergers and AqcuisitionsOntarioOperations

Two ways COVID-19 affected this large brokerage’s M&A strategy

November 20, 2020 by Jason Contant

The COVID-19 pandemic required one large Canadian brokerage to take a “very different approach” to mergers and acquisitions (M&A) activity. COVID affected the M&A process in two significant ways, Jamie Lyons, president and chief operating officer with Westland Insurance Group

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Opinion: Looking to acquire? Don’t forget about intellectual property

November 19, 2020 by Kristian Kolsaker and Angus Marshall, CFC Underwriting

Intellectual property rights are a crucial part of any merger or acquisition so it’s important, whether you are engaging in an industry merger or advising clients on a deal, to consider ways to avoid potential infringements. Intellectual property (IP) has

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How long Intact has been contemplating RSA acquisition

November 19, 2020 by Greg Meckbach

Executives with Canada’s largest property and casualty insurer have had their eye on RSA for a long time, the CEO of Intact Financial Corp. said recently. Intact Financial Corp. announced Wednesday that a deal to acquire RSA PLC has been

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Where The Guarantee Company’s CEO landed after Intact acquisition

November 18, 2020 by Greg Meckbach

Stephen Ruschak, who led The Guarantee Company of North America at the time it was acquired by Intact Financial Corp., is now working for Arch Capital Group Ltd. Bermuda-based Arch Capital announced Tuesday that Ruschak is now executive vice president

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How Intact will decide what becomes of RSA Canada’s brands

November 18, 2020 by Greg Meckbach

If Intact Financial Corp. takes over RSA Canada, the combined firm will go to market with the “strongest” brands, meaning it remains to be seen what happens in Canada to brands such as RSA, Unifund, and Johnson, Intact’s CEO suggested

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What the OneBeacon deal says about Intact’s prospects with RSA acquisition

November 17, 2020 by Greg Meckbach

Intact Financial Corp.’s recent experience writing commercial specialty in the United States is a good sign it could be successful writing property and casualty insurance overseas, analysts tell Canadian Underwriter. RSA plc and Intact announced earlier this month a possible