Topic Operations
Brokerage M&A roundup: Westland and BrokerTeam announce deals
October 2, 2020 by Greg MeckbachWestland Insurance Group and BrokerTeam Group have both announced separate deals this past week. Westland Insurance Group Ltd. acquired two Alberta brokerages, effective Oct. 1. Surrey, B.C.-based Westland announced Friday it closed the acquisition of Carstairs, Alta.-based Ironside Insurance Brokers…
What the insurance industry wants from its tech vendors
September 30, 2020 by Jason ContantThe insurance industry wants technology vendor incumbents to become more innovative, but also limit the number of products to maintain and buy, according to the CEO of Applied Systems. “We did a lot of end-market survey work over the last…
How insurers are shifting investment strategies amid the pandemic
September 30, 2020 by Greg MeckbachChanging the mix of real estate portfolios, selling international exposures and considering increasing insurance prices are among the measures Canadian insurers are taking to compensate for the impact of COVID-19 on investment results. Intact Financial Corp.’s investment portfolio turns over…
How long will it take to get out of this hard market?
September 28, 2020 by Adam MalikAfter setting aside as to whether or not we’re in a hard market, industry consultant Phil Cook said he expects the hard market to last into 2022. Cook, who is also chairman of Omega Insurance Holdings, typically gives his Industry…
The pandemic-induced change Intact says has ‘proven to work’
September 28, 2020 by Greg MeckbachInsurers who sent most of their employees home to work have demonstrated remote access can indeed work — and even offer co-workers an opportunity to get to know each other’s families better — but it may be challenging over the…
It’s full steam ahead for brokerage M&A, now that the pandemic pause is over
September 18, 2020 by Jason ContantAfter the COVID-19 pandemic temporarily paused brokerage mergers and acquisitions (M&A) activity in Canada earlier this year, it appears that the deals are once again moving forward at a steady pace. The markets’ reaction to the pandemic has been very…
Veteran brokers are seeing their first-ever hard market. What they need to know.
September 18, 2020 by Greg MeckbachBrokers with more than a decade of experience could be experiencing their first real hard market right now, and they could probably use some advice about how to break bad news during renewals, an Alberta managing general agent (MGA) suggests.…
Intact’s rationale for buying this bond and marine brokerage
September 16, 2020 by Greg MeckbachIntact Financial Corp.’s latest “tuck-in” brokerage acquisition is part of its ongoing expansion effort in the United States, chief financial officer Louis Marcotte suggested Tuesday. International Bond & Marine Brokerage Ltd. of Hoboken, N.J., announced Sept. 11 it is now…
Westland Insurance reveals its M&A strategy for the future
September 14, 2020 by Jason ContantFresh from closing four acquisitions in western Canada, large brokerage Westland Insurance Group plans to continue exploring opportunities in the west, as well as consider deals that would move the brokerage in a more easterly direction. Westland announced on Sept.…
The ‘new normal’ workplace that could be coming your way
September 11, 2020 by Adam MalikWhile a rating agency complimented the property and casualty insurance space for pivoting its work environment from the office to employee homes, a new workplace survey has found that Canadian employees are looking for greater flexibility in choosing where they…
How brokerage buyers are reacting to COVID market conditions
September 11, 2020 by Jason ContantDemand for Canadian property and casualty insurance brokerages remains strong during the COVID-19 pandemic, but potential brokerage purchasers are becoming more targeted in their approach, a P&C transaction advisor observed. “For most potential transactions, the list of potential purchasers has…
Why your clients aren’t feeling too good these days
September 9, 2020 by Adam MalikWhether it’s your personal or commercial clients, neither are feeling too optimistic about their financial situation as the COVID-19 pandemic continues to stress them out, a pair of recent surveys have found. But the head of the national broker association…