Canadian Underwriter

Topic Mergers and Aqcuisitions

News BrokersInsurersMergers and AqcuisitionsNewfoundland & Labrador

Intact-RSA deal awaits final clearance for takeoff on June 1

May 6, 2021 by David Gambrill

Intact Financial Corporation and Dutch insurer Tryg A/S have received all anti-trust and regulatory approvals for the acquisition of RSA Insurance Group plc, setting the stage for closing the mega-merger within a month. The last items remaining on the to-do

News BrokersInsurersMergers and AqcuisitionsOntarioOperations

Mutual insurer group expands with addition of Ontario brokerage

May 5, 2021 by Jason Contant

Collectivfide Insurance Group Inc. has finalized the acquisition of Barrie, Ont.-based multiline broker RK Mooney Insurance Brokers Ltd., the fourth brokerage acquisition for Collectivfide, a company formed in 2019. Collectivfide’s shareholders represent mutual insurers in Ontario and across Canada. Although

News CommercialInsurersMergers and AqcuisitionsMGAsRisk Managers

What MGA acquisitions bring to the table for Intact

April 30, 2021 by Greg Meckbach

By acquiring managing general agents, Intact Financial Corp. gets a new stream of revenue and an opportunity to grow its commercial specialty business, says the leader of Intact’s MGA operations. When Intact acquired The Guarantee Company of North America from

News CommercialInsurersManagementMergers and AqcuisitionsMGAsRisk Managers

Intact unveils new brand name for MGA Frank Cowan

April 28, 2021 by Greg Meckbach

Intact Financial Corp. is changing the brand name of Frank Cowan Company, the managing general agent it acquired in 2019 from Princeton Holdings. The MGA will be known as Intact Public Entities Inc. “The MGA distribution channel presents a strategic

News HRInsurersManagementMergers and AqcuisitionsNova ScotiaOntario

Change of plans for executive lineup at Heartland following Kings merger

April 27, 2021 by Greg Meckbach

Kings Mutual CEO Cara Cameron is not staying on after the Nova Scotia-based insurer merges with Heartland Farm Mutual Inc. If approved by regulators, the Kings-Heartland deal, initially announced on Jan. 18, will take effect June 30. The merger was

News B.C.BrokersCommercialManagementMergers and AqcuisitionsOntario

Inside the merger of Highcourt and Breckles

April 15, 2021 by Greg Meckbach

Search engine optimization (SEO), electronic transactions, and contracts with carriers insuring small to mid-sized enterprises (SMEs) are among the capabilities that made the Breckles Group of Companies attractive to Highcourt Partners. The merger of those two Canadian brokerages, resulting in

News BrokersMergers and Aqcuisitions

Brokerage interest in M&A dips slightly in early 2021: CU survey

April 12, 2021 by David Gambrill

For Canadian brokerage principals, interest in mergers and acquisitions as a growth strategy increased dramatically in September 2020, during the second wave of the pandemic, but seems to have cooled somewhat since then, according to the results of Canadian Underwriter’s

News AlbertaBrokersCommercialMergers and AqcuisitionsNew BrunswickNewfoundland & LabradorNova ScotiaOntarioOperationsPersonal AutoPersonal Home

Three large Canadian brokerages announce separate M&A deals

April 8, 2021 by Jason Contant

Three large Canadian brokerages have announced recent acquisitions of other brokerages. On Thursday, Westland Insurance reported it closed its acquisition of MBS Insurance Brokers, effective Apr. 1. Navacord Corp. added LL Renaissance Insurance Brokerage Canada Limited to its ranks, while

News BrokersCommercialMergers and Aqcuisitions

Navacord builds up war chest to finance future M&A

April 6, 2021 by Greg Meckbach

Navacord has built up a sizeable war chest to fund future mergers and acquisitions. The Toronto-based group of brokerages recently completed $1.05 billion in financing, a portion of which is to be used to take advantage of unspecified “M&A opportunities,”

News BrokersInsurersMergers and Aqcuisitions

Sky’s still the limit for Canadian P&C industry consolidation: broker exec

April 6, 2021 by Adam Malik

Canadian property and casualty insurers have seen many a deal take place over the years — and it would be no surprise to see more to come, says a broker executive. During the latest edition of the Insurance Institute of

News InsurersManagementMergers and AqcuisitionsOperations

Go small? Why insurers need a new M&A approach

April 1, 2021 by Jason Contant

Large mega-mergers and acquisition deals may be enticing, but smaller deals actually create more value for insurers, according to a recent report by global management consulting firm McKinsey & Company. The primary goal of six out of 10 transactions (representing

News BrokersCommercialInsurersMergers and AqcuisitionsRisk Managers

The rationale for Intact expanding its commercial appetite

March 26, 2021 by Greg Meckbach

Mid-sized commercial clients are going to get bigger, so executives with Canada’s largest property and casualty insurer want to continue their expansion in specialty lines. “We are really scaling up our specialty lines capability here in North America,” Intact Financial