Topic Operations
By much how did M&A deals increase year over year?
July 19, 2022 by Jason ContantThe M&A market continues to burn red-hot, with deals for property & casualty and benefits brokers in Canada and the United States up 16% in the first half of 2022 compared to 2021, according to M&A advisory firm OPTIS Partners.…
Hard market challenges aside, brokers not racing for the exits
July 12, 2022 by David GambrillCanada’s hard market in insurance remains the Number 1 concern of new and experienced brokers alike, as well as brokerages big and small, according to Canadian Underwriter‘s 2022 National Broker Survey. The gender split among respondents was most prominent, with…
Alongside the hard market, brokers face talent crunch
July 4, 2022 by David GambrillCanada’s hard market continues to be brokers’ Number 1 concern, with impacts being felt in several key areas — namely, workloads, resources, pay structures and work satisfaction, our 2022 National Broker Survey found. “Companies not wanting to write risks,” one…
Meet CatIQ’s new president and CEO
June 28, 2022 by Jason ContantLaura Twidle will be the new president and CEO of Catastrophe Indices & Quantification Inc. (CatIQ), taking over from company founder and well-known insurance industry figure Joel Baker on July 1. Twidle has served as CatIQ’s managing director since 2019.…
What the regulator’s focus on digital risk means for you
June 27, 2022 by David GambrillExpect Canada’s solvency regulator to become more active in overseeing the P&C industry’s digital risks. “Insurers have become more digital with changes in business models and service delivery,” OSFI superintendent Peter Routledge said in prepared remarks to insurers attending the…
What’s to blame for P&C industry’s quarterly profitability decline?
June 23, 2022 by Canadian Underwriter StaffAt first glance, 2022 Q1 results for Canada’s P&C industry would support the idea that high profits aren’t sustainable. Industry-wide return on equity dipped to 11.5% in 2022 Q1, compared to 19% in 2021 Q1. But the profitability decline stemmed…
Regulator to engage MGA sector on emerging risks
June 22, 2022 by Jason ContantCanadian Insurance Services Regulatory Organizations (CISRO) will soon be engaging Canada’s national MGA association to find out the emerging risks for the sector, the regulator said during a recent industry event. “Later this year, CISRO will be engaging CAMGA [Canadian…
Canadian P&C brokerage space sees four M&A deals in June
June 8, 2022 by Jason ContantMerger and acquisition activity in the Canadian P&C insurance industry is showing no sign of slowing down in the second half of 2022, with the announcement of four transactions by three brokerages already since the beginning of June. McDougall Insurance…
Four-day work week: Will it work for your P&C office?
May 30, 2022 by Jason ContantIf you’re considering implementing a four-day work week at your P&C workplace, it’s important to realize the potential drawbacks of this approach, as laid out in a blog from Harvard Business Review. “Before trying a four-day workweek, employers need to…
A unified cybersecurity strategy is the key to protecting businesses
May 30, 2022 by The Canadian PressBy Camelia Radu, Associate Professor in Accounting, Universite du Quebec a Montreal (UQAM) and Nadia Smaili, Professor in Accounting (forensic accounting), Universite du Quebec a Montreal (UQAM) – THE CONVERSATION This article was originally published on The Conversation, an independent…
How better risk controls have helped Canada’s P&C industry thrive
May 26, 2022 by Philip PoradoOver the past 20 years, a transition from traditional risk management approaches to enterprise risk management (ERM) helped Canada’s property and casualty insurance industry post stronger performance and financial health, compared with many other industries. A recent Insurance Institute study…
Top leadership changes at Allstate Canada
May 25, 2022 by Jason ContantAllstate Insurance Company of Canada has announced London Bradley is its new president and CEO. Bradley assumed the role of president and CEO of Allstate Canada, Pembridge Insurance Company, Pafco Insurance Company and Ivantage Insurance Brokers Inc. (collectively ACG), effective…