Canadian Underwriter

Topic Mergers and Aqcuisitions

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Meet CBN’s latest member brokerage

June 27, 2023 by Jason Contant

Ontario-based My Insurance Broker (MIB) has joined the Canadian Broker Network (CBN). Based in Richmond Hill, MIB offers a variety of insurance products including home (as well as cottage and condo insurance), auto (Uber insurance, online auto quotes, motorcycle and

Business M&A concept
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Who’s acquiring Canadian P&C brokerages?

June 22, 2023 by Jason Contant

Private equity (PE) and insurer-backed brokerage acquisitions appear to have surged in recent years, but it’s difficult to get a true number as not all transactions are reported, business advisory and consulting firm Smythe LLP said in a new report.

Many hands putting together a jigsaw puzzle
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Why consolidation slows down service levels

June 21, 2023 by Alyssa DiSabatino

Consolidators 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

Private equity firms are like a mint for firms that need a cash infusion
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What private equity firms have in common with insurance distributers

June 20, 2023 by Mitch Green and Ethan Wolfe

Private 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,

Illustration of a bridge of two shaking hands. Businesspeople cross the bridge on either side and increase their business
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Brokerage M&A activity spikes in era of high interest rates

June 19, 2023 by Alyssa DiSabatino

Ontario 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

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McDougall expands into Alberta through M&A

June 14, 2023 by David Gambrill

With 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

Contract waiting for a signature
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Acquisition broadens NFP’s Ontario base

June 8, 2023 by Philip Porado

NFP 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,”

Mergers and acquisitions due diligence is important
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Will fewer mergers reduce reps and warranties insurance pricing?

June 7, 2023 by Jason Contant

Pricing 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

Jigsaw puzzle pieces - M&A concept
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Westland widens Ontario footprint with new acquisitions

June 7, 2023 by Alyssa DiSabatino

Westland 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

Two groups of employees join together after merger
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BrokerLink buys Burlington brokerage

June 6, 2023 by Philip Porado

For 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),

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Fifty shades of broker independence

May 26, 2023 by David Gambrill

In 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

Talent acquisition concept
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BrokerLink president shares thoughts on brokerage M&A

May 24, 2023 by Jason Contant

BrokerLink 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