Canadian Underwriter

Topic Mergers and Aqcuisitions

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News BrokersMergers and Aqcuisitions

How a recession could affect M&A deals in P&C insurance

March 3, 2023 by David Gambrill

Threats 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

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News AlbertaBrokersInsurersMergers and AqcuisitionsNova Scotia

Stoneridge Insurance Brokers expands its Canadian footprint

February 17, 2023 by Alyssa DiSabatino

Stoneridge 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

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News AlbertaBrokersMergers and Aqcuisitions

BrokerLink’s first deal of 2023

February 7, 2023 by David Gambrill

Alberta-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

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News BrokersInsurersMergers and Aqcuisitions

Which insurers can expect to be consolidated

January 23, 2023 by Alyssa DiSabatino

Middle 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

Sealing the M&A deal with a handshake
News AlbertaB.C.BrokersCommercialManagementMergers and Aqcuisitions

Industry veteran joins Westland following acquisition

January 13, 2023 by Jason Contant

Industry 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

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News BrokersCommercialMergers and AqcuisitionsPersonal AutoPersonal Home

How two of Canada’s largest P&C brokerages closed 2022

January 9, 2023 by Jason Contant

Westland 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

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News InsurersMergers and AqcuisitionsP.E.I.

Canadian P&C insurer reveals plan to go private

December 9, 2022 by David Gambrill

The 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

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News AlbertaB.C.BrokersMergers and Aqcuisitions

This holding company’s first foray into Canadian P&C insurance

December 8, 2022 by David Gambrill

The 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

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News BrokersCommercialMergers and AqcuisitionsNew BrunswickP.E.I.

Westland expands into two new provinces

December 7, 2022 by Jason Contant

Westland 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,

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News BrokersHRInsurersManagementMergers and AqcuisitionsOperationsTechnology

Do digitally efficient brokerages make better acquisition targets?

December 2, 2022 by Alyssa DiSabatino

Brokerage 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

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News BrokersHRMergers and Aqcuisitions

Does digitizing help smaller brokerages appeal to buyers?

November 28, 2022 by Alyssa Di Sabatino

Small 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

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Definity’s plans for brokerage, insurer M&A

November 28, 2022 by Jason Contant

Definity 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