Canadian Underwriter

Topic Mergers and Aqcuisitions

News BrokersEmerging RisksInsurersManagementMergers and Aqcuisitions

How consolidation is changing broker-insurer relationships

July 7, 2023 by Alyssa DiSabatino

Brokerage consolidation is changing how insurers interact with their broker partners, panellists said during the Insurance Brokers Association of B.C. (IBABC) AGM and Leader’s Conference in Whistler, B.C., last week.  The impact of consolidation is most acute for insurers who

Eric Walker, Collectivfide
News BrokersInsurersMergers and Aqcuisitions

Mutuals group Collectivfide appoints head of M&A

July 6, 2023 by David Gambrill

Collectivfide Insurance Group has appointed Eric Walker as its head of mergers and acquisitions (M&A). Formed in 2019, Collectivfide’s shareholders represent mutual insurance companies in Ontario and across Canada. The company is committed to protecting the independent broker distribution channel.

Picture of the canadian flag taken in front of a cold and blue business building.
News BrokersMergers and Aqcuisitions

What’s driving Navacord’s M&A growth strategy

June 30, 2023 by David Gambrill

Canada’s fourth-largest brokerage, Navacord, took another step Wednesday in building what it calls “The Great Canadian Brokerage,” announcing an M&A deal with Mitchell McConnell Insurance Ltd. in New Brunswick. Mitchell McConnell Insurance, whose legacy dates to 1927, is headquartered in

Map of Canada
News BrokersCommercialCommercial AutoManagementMergers and AqcuisitionsNew BrunswickNova ScotiaOperationsP.E.I.Personal AutoPersonal HomeProperty

Large Canadian brokerage now operating coast to coast

June 28, 2023 by Jason Contant

Editor’s Note: An original version of this article incorrectly identified Western Financial Group as Westland. Canadian Underwriter apologizes for the error.   Western Financial Group now operates coast to coast following its full acquisition of Huestis Insurance and Associates Ltd.

Teamwork and partnership conceptual image - hands of a businessman and businesswoman joining blank matching puzzle pieces over brown background.
News BrokersManitobaMergers and Aqcuisitions

Behind the big brokerage merger between ONE and BSI

June 27, 2023 by David Gambrill

ONE Insurance and BSI Insurance are combining to form the largest Manitoba-owned brokerage network, serving the province through 28 branches in 26 different communities. The new company would bring together two of Manitoba’s oldest insurance brokers, with a total of

Success and strategy concept
News BrokersCommercialManagementMergers and AqcuisitionsOntarioOperationsPersonal AutoPersonal Home

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 leader press a mergers and acquisitions holographic button
News BrokersManagementMergers and AqcuisitionsOperations

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
News BrokersInsurersManagementMergers and AqcuisitionsOntario

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
News BrokersInsurersManagementMergers and AqcuisitionsOperations

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
News BrokersInsurersManagementMergers and AqcuisitionsTrending

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

Hiker stretches arms out on mountain bluff, sunrise
News AlbertaBrokersInsurersMergers and Aqcuisitions

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
News BrokersCommercialMergers and AqcuisitionsOntarioPersonal AutoPersonal HomeTrusted Advisor

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,”