Canadian Underwriter

Topic Mergers and Aqcuisitions

News Mergers and Aqcuisitions

Hartford board rejects unsolicited takeover offer from Chubb

March 24, 2021 by Greg Meckbach

The Hartford Financial Services Group Inc. announced Tuesday its board of directors is not in favour of a US$23 billion takeover offer from Chubb Limited. Both Chubb and Hartford own Canadian property and casualty commercial insurers. Zurich, Switzerland-based Chubb announced

News CommercialMergers and Aqcuisitions

Hartford ‘carefully considering’ proposed $23-billion merger with Chubb

March 19, 2021 by Greg Meckbach

Chubb Limited is offering to buy The Hartford Financial Services Group Inc. for about US$23 billion. Chubb and Hartford each own property and casualty commercial insurers in Canada. Chubb is based in Zurich, Switzerland, while Hartford is based in the

News InsurersMergers and AqcuisitionsOperations

M&A report: Where Intact-RSA sits among Canada’s largest Q4 deals

March 17, 2021 by David Gambrill

Intact and Danish insurer Tryg’s $10.4-billion play for RSA Insurance Group plc topped the list of Canada’s largest deals announced in 2020 Q4, according to a recent report by corporate law firm Miller Thomson. The report defines the largest M&A

News BrokersClaimsCommercialInsurersLegalMergers and Aqcuisitions

ARAG-DAS deal unites Canada’s titans in legal expense insurance

March 16, 2021 by Adam Malik

Legal expense insurance company ARAG Group has announced that it will be acquiring competitor DAS Legal Protection in Canada. The deal was announced Tuesday in a move that will see the German-based company acquire the Canadian MGA. Terms of the

News BrokersMergers and AqcuisitionsNew BrunswickNova ScotiaP.E.I.

Why size matters to Western Financial Group

March 4, 2021 by Greg Meckbach

Some brokers are entering into mergers or partnerships so they can more easily place hard-to-find coverage, according to one brokerage executive. “We just feel that some brokers who do not necessarily have our volume are struggling to find market support

News B.C.BrokersCommercialManitobaMergers and AqcuisitionsNew BrunswickOperationsSaskatchewan

Brokerages snapped up coast-to-coast in latest M&A deals

March 3, 2021 by Jason Contant

Canadian brokerage acquisitions continue coast-to-coast with the recent purchases of four brokerages in British Columbia, Saskatchewan, Manitoba and New Brunswick. Navacord, B.C.-based brokerage Waypoint Insurance, Archway Insurance and Westland Insurance Group (which bought two brokerages) all made acquisition announcements at

News Mergers and Aqcuisitions

How Intact will decide whether to keep RSA operations outside of Canada

March 2, 2021 by Greg Meckbach

It would have been difficult for Intact Financial Corp. to only buy RSA’s Canadian operation without buying other parts of London-based RSA plc, a senior Intact executive suggests. “It is difficult to pull [RSA Canada] away from the RSA Group

News InsurersMergers and Aqcuisitions

Intact looks beyond RSA deal for more M&A

March 1, 2021 by Greg Meckbach

Intact Financial Corp. will probably not be finished acquiring other insurers after Intact absorbs RSA Canada. “We will be ready at some point to take on more transactions in Canada,” Intact CFO Louis Marcotte said during the 22nd Annual Credit

News CommercialMergers and AqcuisitionsMGAsOperations

Why this MGA exec predicts more Canadian MGA consolidation in the future

February 11, 2021 by Jason Contant

More mergers and acquisitions (M&A) activity between managing general agencies (MGA) is likely in the future, since private equity is focusing on this sector, giving MGAs the fiscal tools to make acquisitions, the president and CEO of one MGA told

News Mergers and Aqcuisitions

Where Intact sits with the RSA acquisition

February 10, 2021 by Greg Meckbach

Now that Intact Financial Corp.’s deal to acquire a large chunk of RSA plc has been approved by both the federal Competition Bureau and RSA shareholders, Toronto-based Intact expects the deal to close by July and has more than two

News BrokersCommercialMergers and Aqcuisitions

How Aon’s proposed takeover of Willis Towers Watson is going

February 8, 2021 by Greg Meckbach

Aon plc has yet to complete its proposed acquisition of Willis Towers Watson plc, but the future management team of the combined brokerage is already starting to collaborate, Aon CEO Greg Case suggested last week. Shareholders of both Aon and

News Emerging RisksMergers and AqcuisitionsMGAs

Why there is very little MGA consolidation

February 8, 2021 by Jason Contant

Managing general agencies (MGAs) in Canada are currently engaging in very little mergers and acquisitions activity among themselves because the market is still growing organically and is less mature than in other countries, the managing director of the national MGA