Topic Mergers and Aqcuisitions
How a recession could affect M&A deals in P&C insurance
March 3, 2023 by David GambrillThreats of an economic recession in Canada are not likely to dampen mergers and acquisitions activity in the property and casualty insurance brokerage sector in 2023, one M&A expert predicts. Although M&A activity contracted in some industry sectors towards the…
Stoneridge Insurance Brokers expands its Canadian footprint
February 17, 2023 by Alyssa DiSabatinoStoneridge Insurance Brokers (SIB) has expanded its P&C business on both coasts, with its acquisition of Eisenhauer Insurance Inc. in the Maritimes and Asset Insurance Brokers in western Canada. Plus, SIB’s CEO says the brokerage is in the process…
BrokerLink’s first deal of 2023
February 7, 2023 by David GambrillAlberta-based Myrnam Insurance Ltd. is BrokerLink’s first acquisition of 2023. The deal expands BrokerLink’s presence in St. Paul, Alta., and surrounding areas. As a fourth-generation, family-owned business, Myrnam Insurance has been providing auto, property, business and farm insurance across Alberta…
Which insurers can expect to be consolidated
January 23, 2023 by Alyssa DiSabatinoMiddle market and non-specialty insurers will be the central targets of consolidators into 2024, and some may even withdraw entirely from the P&C insurance market, suggested Phil Cook, P&C consultant and chairman of Omega Insurance Holdings Inc. at the Insurance…
Industry veteran joins Westland following acquisition
January 13, 2023 by Jason ContantIndustry veteran Doug Morrow has joined Westland Insurance as its new vice president of commercial insurance for Alberta, the brokerage announced earlier this week. Most recently president and CEO of Excel Insurance Group, Morrow joined Westland as vice president, commercial…
How two of Canada’s largest P&C brokerages closed 2022
January 9, 2023 by Jason ContantWestland Insurance Group and BrokerLink ended 2022 with a bang, closing several merger and acquisition deals in December and bringing combined yearly transactions to more than 50 acquisitions. Westland announced in December the acquisition of Nova Scotia-based Gateway Insurance Group…
Canadian P&C insurer reveals plan to go private
December 9, 2022 by David GambrillThe Insurance Company of Prince Edward Island (ICPEI) has proposed deal that would have company directors, executives, certain employees and investors buy a majority stake in the insurance company and take its ownership private. The proposed deal was announced Friday…
This holding company’s first foray into Canadian P&C insurance
December 8, 2022 by David GambrillThe Jim Pattison Group, a holding company that does $14-billion in business, has become a minority investor in Alberta-based brokerage HighStreet Insurance Group. The strategic investment marks the entry of the holding company into the Canadian P&C insurance space. Terms…
Westland expands into two new provinces
December 7, 2022 by Jason ContantWestland Insurance has entered into Prince Edward Island and New Brunswick for the first time, making it one of the largest insurance brokers in Atlantic Canada. The western Canadian-based brokerage announced Tuesday the acquisition of Hyndman Insurance Group, Sears Insurance,…
Do digitally efficient brokerages make better acquisition targets?
December 2, 2022 by Alyssa DiSabatinoBrokerage owners shouldn’t just invest in digitization for its own sake, says one financial advisor. They should do it to make a purchase and integration easier for consolidators. Consolidators don’t necessarily expect small brokerages to digitize before acquisition, said Alex…
Does digitizing help smaller brokerages appeal to buyers?
November 28, 2022 by Alyssa Di SabatinoSmall or family-owned brokerages prioritizing digitization strategies will be in a better position to grow through a merger or acquisition, experts told Canadian Underwriter. But it may be easier said than done, given financial or resource constraints faced by many…
Definity’s plans for brokerage, insurer M&A
November 28, 2022 by Jason ContantDefinity Financial Corporation is interested in both P&C brokerage and carrier acquisitions, the insurer’s president and CEO Rowan Saunders confirmed during a recent virtual fireside chat with RBC Capital Markets. “Even though we’ve just recently done a significant acquisition in…