Canadian Underwriter

Topic New Brunswick

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M&A growth sets Navacord on course for $3 billion in premium

June 10, 2021 by Jason Contant

Navacord Corp. has finalized a record number of brokerage acquisitions in one month, with four deals already closed across the country in June. The latest transactions represent a total of 18 new locations and over 430 employees. More deals are

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COVID’s effect on Canadian auto and property rates

April 22, 2021 by Jason Contant

Endorsements to auto policies as a result of changing driving habits from COVID-19 are resulting in average premium rate renewal decreases across most of the country, according to Applied Systems’ latest rating index report. Personal property rates, on the other

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New Brunswick premier urges truck drivers to get a COVID 19 vaccination

April 14, 2021 by Kevin Bissett, The Canadian Press

FREDERICTON — New Brunswick’s premier is urging truck drivers to get vaccinated against COVID-19 as soon as possible, but the head of a regional trucking association says it’s not that simple. Blaine Higgs told reporters Tuesday only about 800 of

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Three large Canadian brokerages announce separate M&A deals

April 8, 2021 by Jason Contant

Three large Canadian brokerages have announced recent acquisitions of other brokerages. On Thursday, Westland Insurance reported it closed its acquisition of MBS Insurance Brokers, effective Apr. 1. Navacord Corp. added LL Renaissance Insurance Brokerage Canada Limited to its ranks, while

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4-kilometre-long ice jam opens flooding season

March 31, 2021 by Jason Contant

A four-kilometre-long ice jam on the Saint John River is creating flooding concerns in New Brunswick. The ice jam has already flooded part of Route 105 leading to the Tobique First Nation and prompted the closure of three schools in

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Why auto rates are increasing despite fewer drivers on the road

March 6, 2021 by Jason Contant

Average auto insurance rates rose in Canada during the second half of 2020 despite the COVID-19 pandemic and lockdowns that led to fewer drivers on the road, a new report from LowestRates.ca found. The average auto insurance premium climbed by

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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

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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

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How Western Financial made its presence known in Atlantic Canada

March 1, 2021 by Greg Meckbach

Western Financial Group is taking a non-controlling interest in Saint John, N.B.-based Huestis Insurance Group. The exact terms of the deal, announced Feb. 23, were not disclosed, other than it will give the High River, Alta.-based Western Financial a “significant”

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Messy winter storm slams into the Maritimes

February 2, 2021 by Michael MacDonald - THE CANADIAN PRESS

HALIFAX – A winter storm lashed the Maritimes with strong winds, snow and ice pellets on Tuesday, causing power outages and forcing the closure of schools and businesses. Snowfall and winter storm warnings were issued for much of the region,

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Canadian auto and property insurance rates headed in opposite directions

February 1, 2021 by Jason Contant

Average personal auto premium rates in Canada decreased 2.6% in 2020 Q4 compared to the same period in 2019, but some provinces did see an increase, according to the latest results from Applied Systems’ premium rate index. On average, both

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Winter storm churning out powerful winds expected to slam into Atlantic Canada

February 1, 2021 by The Canadian Press

Environment Canada has issued a series of weather warnings for the Atlantic region, as a winter storm is expected to deliver an ugly mix of snow, rain, ice pellets and strong winds on Tuesday and Wednesday. Snowfall warnings are in