Canadian Underwriter

Topic Mergers and Aqcuisitions

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News BrokersMergers and Aqcuisitions

Surge in serious buyers to fuel post-pandemic M&A: Hub Canada exec

August 11, 2021 by Canadian Underwriter Staff

A Hub Canada executive says M&A is likely to heat up as serious buyers take renewed interest in P&C brokerages. In an interview with Canadian Underwriter, Greg Belton, executive chairman of Hub International Canada, said there is “no lack of

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BrokerLink doubles size in Atlantic Canada, buys brokerages in Ontario and Alberta

August 9, 2021 by Jason Contant

BrokerLink has doubled its presence in Atlantic Canada and is now one of the largest brokerages on the east coast following its acquisition of Archway Insurance and South Coast Insurance Agency Limited. BrokerLink, a subsidiary of Intact Financial Corporation, announced

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Westland acquires brokerages in B.C. and Ontario

August 6, 2021 by Jason Contant

Westland Insurance Group Ltd. has expanded their footprint in British Columbia and Ontario with the acquisition of two brokerages. The large independent Canadian-owned brokerage announced Wednesday the acquisition of National Brokers Insurance Services Inc. in Ontario and Lambert Insurance Agencies

Office workstation top view with businesspeople working around M&A
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McLarens acquires MGB Claims Consultants

August 3, 2021 by Greg Meckbach

Canadian adjusting firm MGB Claims Consultants Inc. has been acquired by McLarens, a Norcross, Ga.-based insurance service provider. The financial terms of the deal, announced Tuesday, were not disclosed. Shawn Malik, James Giffen and Shawn Burnett – who founded MGB

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Gallagher no longer buying major Willis Towers Watson assets

July 30, 2021 by Greg Meckbach

A bunch of Willis Towers Watson plc workers, who anticipated that their divisions were being sold to Arthur J. Gallagher & Co., will be staying with Willis Towers Watson after all. Rolling Meadows, Ill.-based Gallagher announced July 26 that a

News InsurersLicensingManagementMergers and AqcuisitionsNova ScotiaOperationsPersonal Auto

Here’s the timeline for converting RSA policies to Intact

July 30, 2021 by Greg Meckbach

Nova Scotia motorists with RSA insurance policies can renew through RSA until November 4, the province’s auto insurance regulator said in its July 28 ruling on Intact Insurance Company’s rate filing. On June 1, Intact Financial Corp. closed its acquisition

News BrokersCommercialLegalManagementMergers and AqcuisitionsOperationsRisk Managers

Stoppage of Aon-Willis combo won’t slow brokerage M&A activity: KPMG Canada deal advisor

July 28, 2021 by Greg Meckbach

Mid-sized brokers need to be careful in their approach to mergers-and-acquisition proposals but the abrupt cancellation of Aon’s $30-billion acquisition of Willis Towers Watson is not going to slow down deal-making within the brokerage sector, a Montreal-based insurance M&A expert

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How many people Marsh hired amidst ‘distraction and uncertainty’ of Aon-Willis merger discussions

July 26, 2021 by Greg Meckbach

Amid the uncertainty over Aon PLC’s now-scuttled plan to acquire Willis Towers Watson PLC, Marsh & McLennan Companies Inc. increased its staff level by nearly 2,000 during the first half of 2021, Marsh & McLennan CEO Dan Glaser says. “We

Office workstation top view with businesspeople working around M&A
News BrokersMergers and Aqcuisitions

Aon-Willis merger no longer going ahead

July 26, 2021 by Greg Meckbach

Aon plc is no longer going to acquire Willis Towers Watson plc. Aon and Willis – the world’s second and third biggest commercial property and casualty brokerage respectively – are terminating their US$30-billion combination agreement, Aon announced Monday. The proposed

News CommercialMergers and AqcuisitionsOntario

M&A deal sees brokerage expand into the child and youth care space

July 22, 2021 by David Gambrill

With the Ontario government poised to pump more funding into child care services, the timing was right for brokerage McFarlan Rowlands to acquire Magenta Insurance Professionals, a niche insurance broker focused on children and youth activities, says McFarlan Rowlands CEO

Office workstation top view with businesspeople working around M&A
News InsurersMergers and AqcuisitionsP.E.I.

New name in the works for Echelon’s former corporate owner

July 20, 2021 by Greg Meckbach

EFH Holdings Inc., the Mississauga, Ont.-based corporate owner of Insurance Company of Prince Edward Island (ICPEI), is applying to change its name ICPEI Holdings Inc. EFH was known until December 2020 as Echelon Financial, which owned Canadian P&C insurer Echelon

News BrokersCommercialMergers and AqcuisitionsOperations

What’s selling hotter than real estate these days? Brokerages

July 15, 2021 by Jason Contant

Buyers are paying up to double-digit multiples for Canadian commercial lines property and casualty brokerages, while pricing for smaller retail brokerages has softened, a P&C industry consulting firm has observed. “Some of the prices being paid for larger commercial brokerages