Canadian Underwriter

Topic Mergers and Aqcuisitions

News Mergers and Aqcuisitions

Anti-trust issues unlikely if Intact acquires RSA Canada: Analyst

November 16, 2020 by Greg Meckbach

Intact Financial Corp. is unlikely to encounter any opposition from Canada’s competition regulator in acquiring RSA plc’s Canadian insurance operations, an expert from DBRS Morningstar predicts. “We see a material difference between the life insurance market and the P&C market

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Westland brokerage moves in an easterly direction

November 13, 2020 by Jason Contant

Westland Insurance’s mergers and acquisition strategy continues in an easterly direction from its roots in British Columbia. Just days after closing its first-ever brokerage acquisition in Ontario, Westland Insurance Group Ltd. announced its second acquisition in Manitoba. On Nov. 10,

News BrokersMergers and Aqcuisitions

How Aon sees competition regulators’ review of Willis Towers Watson acquisition

November 11, 2020 by Greg Meckbach

It is still up to regulators to decide whether Aon plc will be allowed to acquire Willis Towers Watson plc, but Aon officials seem confident there won’t be a problem. During a recent earnings call, Aon executives were asked why

News BrokersMergers and Aqcuisitions

Intact sets 50% growth target for BrokerLink

November 10, 2020 by Greg Meckbach

Intact Financial Corp. is aiming to grow its brokerage subsidiary to a $3-billion-a-year operation, CEO Charles Brindamour told investment banking analysts recently. “BrokerLink recently surpassed $2 billion in premiums as it continues to grow organically and through acquisitions,” Brindamour said

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Brokerage M&A round-up: Which four were bought?

November 9, 2020 by Jason Contant

British Columbia-based Westland Insurance Group Ltd. has moved into the Ontario market, announcing that it has acquired Gillons Insurance Brokers Ltd. The “significant and substantial milestone” supports Westland’s expansion strategy to become a national insurance brokerage, the brokerage said when

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Brokers react to Intact’s ‘unbelievable’ international expansion proposal

November 9, 2020 by Greg Meckbach

A takeover of RSA Canada by Intact would still leave clients with plenty of choice in property and casualty insurance while making Intact more of an international player, an Ontario broker suggests. However, another notes that there is reason for

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Why the impact of an Intact-RSA combo would vary by province

November 6, 2020 by Greg Meckbach

Things could get interesting for brokers in Atlantic Canada if Intact takes over RSA’s Canadian operations, a Saskatchewan broker told Canadian Underwriter Friday. That being said, he felt if the proposed deal announced Thursday goes through, it would still leave

News InsurersMergers and Aqcuisitions

Intact and Tryg preparing a joint offer to acquire RSA

November 5, 2020 by David Gambrill

A consortium composed of Intact Financial Corporation and Nordic property and casualty insurer Tryg A/S is preparing a cash offer to acquire RSA plc for £7.2-billion (about Cdn$12.3 billion). Intact is Canada’s largest property and casualty insurer, with a market

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The downside of selling for 4 times multiple during COVID

October 23, 2020 by Greg Meckbach

Despite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15

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Brokerage M&A roundup: Westland and BrokerTeam announce deals

October 2, 2020 by Greg Meckbach

Westland Insurance Group and BrokerTeam Group have both announced separate deals this past week. Westland Insurance Group Ltd. acquired two Alberta brokerages, effective Oct. 1. Surrey, B.C.-based Westland announced Friday it closed the acquisition of Carstairs, Alta.-based Ironside Insurance Brokers

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Fight continues over proposal to acquire property data provider CoreLogic

October 1, 2020 by Greg Meckbach

A proxy battle is underway for control of the corporate parent of Canadian insurance technology vendor Symbility. Hedge fund advisor Senator Investment Group said Wednesday it is asking shareholders of CoreLogic Inc. to vote this November in favour of replacing

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It’s full steam ahead for brokerage M&A, now that the pandemic pause is over

September 18, 2020 by Jason Contant

After the COVID-19 pandemic temporarily paused brokerage mergers and acquisitions (M&A) activity in Canada earlier this year, it appears that the deals are once again moving forward at a steady pace. The markets’ reaction to the pandemic has been very