Topic Mergers and Aqcuisitions
The first brokerage M&A deal of 2020
January 2, 2020 by Jason ContantArchway Insurance rang in the new year by announcing two new locations in southwestern New Brunswick following the acquisition of Groom Insurance Limited, effective Jan. 1, 2020. The latest addition brings the number of Archway locations to 32, with approximately…
Top 3 M&A insurance deals in 2019
December 20, 2019 by Jason Contant2019 saw a slew of mergers and acquisitions in the Canadian P&C space and it’s unlikely 2020 will buck the trend. In fact, in the past few weeks alone, one Ontario brokerage bought another one, a Florida-based brokerage bought a…
The latest acquisitions in the Canadian brokerage space
December 17, 2019 by Jason ContantAs we near the end of 2019, the trend in brokerage acquisitions shows no sign of slowing down. In the past week-and-a-half, one Ontario brokerage purchased another Ontario brokerage, a different brokerage bought a managing general agency, a large brokerage…
Canadian healthcare services provider acquires AssessMed
December 12, 2019 by Jason ContantLifemark Health Group (LHG) has acquired AssessMed, an independent medical examination services provider for auto insurers, as part of its strategy to diversify its medical assessment services across Canada. In particular, the acquisition allows LHG to broaden its assessment expertise…
Three reasons fintech is driving brokerage acquisitions
December 11, 2019 by Greg MeckbachDisruption by fintechs will be one driving force behind mergers and acquisitions among insurance brokerages, industry executives say.“I think fintech will help perpetuate this continued consolidation trend because I think at the small end of the market, fintech is viewed…
Applied Systems to acquire Indio Technologies
December 4, 2019 by Jason ContantApplied Systems announced Wednesday it has entered into a definitive agreement to acquire Indio Technologies, a software company that digitizes the insurance application and renewal process. The announcement comes less than two months after Applied acquired Policy Works, a major…
Intact completes acquisition of The Guarantee
December 3, 2019 by Greg MeckbachThe takeover by Intact Financial Corp. of The Guarantee Company of North America is now complete, Toronto-based Intact announced Monday. “We can now welcome The Guarantee and Frank Cowan employees into the Intact family,” Intact CEO Charles Brindamour said in…
Why your brokerage could be an attractive takeover target
December 2, 2019 by Greg MeckbachWhen private equity players are looking to buy firms they think are “recession proof” and brokerage owners reach retirement age, it’s a recipe for more mergers and acquisitions, insurance professionals heard last week at KPMG Canada’s 28th annual insurance conference.…
What to plan for when brokerages merge
November 29, 2019 by Greg MeckbachIf you manage a brokerage that has merged, don’t forget to tell every employee why the transaction took place and what the end goal is, brokerage leaders who have been through the process said Thursday. “I don’t think, in any…
Employee-owned brokerage makes third acquisition of the year
November 14, 2019 by Jason ContantEmployee-owned independent insurance brokerage Storm Insurance Group announced Wednesday its acquisition of Quebec brokerage Axxium Assurance Inc., effective Nov. 1. “This opportunity now makes us one of Canada’s few national independent insurance brokers with full operations in all four regions…
Brokerage acquisitions: What’s really in it for Intact?
November 12, 2019 by Greg MeckbachTaking on potential disruptors and investing in technology are among the reasons Intact Financial Corp. is on a brokerage acquisition spree. “Our view is that scaling up distribution is the best way to fight disruption,” Intact CEO Charles Brindamour said…
This line of business has grown an estimated 20% since last year
November 11, 2019 by Jason ContantHow much has the demand for M&A transaction insurance grown in Canada? “While we do not have specific statistics, we estimate that demand has grown in the Canadian market at least in line with the broader Americas region at 20%…