Keyword
acquisition
M&A growth sets Navacord on course for $3 billion in premium
June 10, 2021 by Jason ContantNavacord 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…
Westland closes two new acquisitions in Canada
June 8, 2021 by Jason ContantWestland Insurance Group Ltd. has closed two new acquisitions in Saskatchewan, both in locations where the large brokerage didn’t have a presence before. The brokerage announced Monday it had closed the acquisitions of HK Insurance in Regina and Smith Agencies…
Hub makes back-to-back acquisitions of Canadian brokerages
June 4, 2021 by Jason ContantHub International has made its second brokerage acquisition in two days with the purchase of a family-owned firm in Nova Scotia. Hub announced on Friday that it had acquired Sackville, N.S.-based Salvatore Insurance Brokers Ltd., which provides commercial insurance to…
Intact-RSA deal awaits final clearance for takeoff on June 1
May 6, 2021 by David GambrillIntact Financial Corporation and Dutch insurer Tryg A/S have received all anti-trust and regulatory approvals for the acquisition of RSA Insurance Group plc, setting the stage for closing the mega-merger within a month. The last items remaining on the to-do…
Mutual insurer group expands with addition of Ontario brokerage
May 5, 2021 by Jason ContantCollectivfide Insurance Group Inc. has finalized the acquisition of Barrie, Ont.-based multiline broker RK Mooney Insurance Brokers Ltd., the fourth brokerage acquisition for Collectivfide, a company formed in 2019. Collectivfide’s shareholders represent mutual insurers in Ontario and across Canada. Although…
Sontiq announces agreement to acquire CyberScout
February 2, 2021 by Jason ContantHigh-tech security and identity protection company Sontiq announced Tuesday it had signed a definitive agreement to acquire CyberScout, a major provider of cyber products and services tailored to the insurance industry. “Through Sontiq’s comprehensive product portfolio, major insurance carriers, mutual…
COVID’s impact on brokerage M&A: Myth versus reality
December 10, 2020 by Greg MeckbachThe onset of the COVID-19 pandemic made it difficult to raise money from major banks to finance mergers and acquisitions, but well-run brokerages will still be attractive to buyers, suggests an expert in brokerage valuation. “When COVID hit, the banks…
Behind the scenes of Hub’s latest Canadian acquisition
September 2, 2020 by Jason ContantHub announced the acquisition of Grande Prairie, Alta.-based Elevate Insurance Brokers Wednesday. Elevate is a locally-owned, independent full-service brokerage that provides home, auto, recreational vehicle and business insurance. Elevate Insurance president Pierce Krol and partner Otilja Majewski will join Hub…
BrokerLink closes nine brokerage acquisitions across the country
August 11, 2020 by David GambrillBrokerLink announced Tuesday the closing of nine acquisitions to date for 2020, including the acquisition of brokerages in Alberta, Ontario, Nova Scotia and New Brunswick. BrokerLink, a subsidiary of Intact Financial Corporation, continues to look to the future to carry…
NFP Canadian executive reveals future M&A strategy
January 10, 2020 by Jason ContantNFP Corp. has concentrated almost exclusively in Ontario since it first entered into the Canadian property and casualty insurance space about two years ago, but expect that to change in the future. NFP is looking to have “a bigger presence…
The latest brokerage to join the parade of M&A in 2020
January 8, 2020 by Jason ContantAnother day, another acquisition. McDougall Insurance and Financial has merged with Provenance Insurance Services Ltd., which operates as Knox Hutchison Insurance Services (North Bay), Municipal Insurance Services (North Bay) and Dynamic Insurance Brokers (Sudbury). Provenance will join with McDougall to…
Canadian brokerage M&A explodes out of the gate in 2020
January 7, 2020 by Jason Contant“The market for P&C brokerages and books of business is strong and will likely continue to be robust in the foreseeable future,” Mike Berris, partner and practice group leader with Smythe Advisory, predicted last August in the firm’s Property &…