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Arthur J. Gallagher reports brokerage revenues of US$878.5 million for Q1 2017

May 1, 2017 by Canadian Underwriter

Arthur J. Gallagher & Co. (AJG) has reported brokerage revenues of US$878.5 million for the first quarter of 2017 ending March 31, up 6% from US$825.5 million in the first quarter of 2016. Rolling Meadows, Ill.-based AJG reported its financial

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Multi-line brokerage Andrew Agencies Ltd. announces acquisition of McCracken Insurance M.I.L. Ltd.

March 24, 2017 by Canadian Underwriter

Multi-line brokerage Andrew Agencies Ltd. announced on Thursday the acquisition of Airdrie, Alta.-based McCracken Insurance M.I.L. Ltd. Andrew Agencies will acquire McCracken Insurance on April 3, the former said in a press release. The new Airdrie location will be the

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Caisse de dépôt et placement du Québec to buy stake in commercial brokerage USI from Onex

March 17, 2017 by Canadian Underwriter

Toronto-based Onex Corp. is selling its stake in one of the world’s largest commercial brokerages, USI Insurance Services LLC, to Caisse de dépôt et placement du Québec and other buyers. Valhalla, N.Y.-based USI placed 11th worldwide in an earlier ranking

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New mobile app allows policyholders to self-serve auto, property insurance policies through their mobile devices

January 24, 2017 by Canadian Underwriter

KTX Insurance Brokers Ltd. is looking to respond to consumer demand to interact online with the launch of a new mobile app that allows policyholders to access both advice from licensed brokers and self-serve their insurance policies online. Through the

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Hub International acquires Saskatchewan brokerage “association” Mainline Insurance Brokers Inc.

January 4, 2017 by Canadian Underwriter

Global insurance brokerage Hub International announced on Wednesday that it has acquired Canadian-based Mainline Insurance Brokers Inc., Indian Head Agencies (1980) Ltd., R&J McKay Agencies Ltd. and Cathedral Insurance Services (1995) Ltd. (together as Mainline). Terms of the acquisition were

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Archway Insurance purchases D.R. Hayman Insurance

January 3, 2017 by Canadian Underwriter

Archway Insurance has enhanced its presence in Nova Scotia generally and in Pictou County specifically with the recent acquisition of Stellarton-based D.R. Hayman Insurance. The acquisition, effective Dec. 31, 2016, represents the entry of Archway Insurance – one of Atlantic

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Archway Insurance enters nine New Brunswick communities with the purchase of Alliance Assurance, effective Dec. 31

December 6, 2016 by Canadian Underwriter

Archway Insurance, one of Atlantic Canada’s largest insurance brokerages, announced on Tuesday that it will purchase Alliance Assurance effective Dec. 31. Alliance is one of the largest brokerages in New Brunswick, with nine locations serving communities across the province, Archway

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Vancouver-based Vertical Insurance Group acquires brokerage Axis Insurance Managers Inc.

November 9, 2016 by Canadian Underwriter

Vancouver-based Vertical Insurance Group Ltd., owners of Shaw Sabey, Metrix, Core, Magnes, LMG and other retail insurance brokerage businesses, has announced the acquisition of the majority interest in the capital of brokerage Axis Insurance Managers Inc., also of Vancouver. Alex

Feature Mergers and Aqcuisitions

Looking Ahead

November 1, 2016 Greg Meckbach, Associate Editor

As more Millennials are becoming involved in commercial insurance purchasing decisions, incoming Toronto Insurance Conference president Michael Loeters is focusing on helping brokers prepare for the rise of fintech.

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Former Willis CEO Casserley to leave Willis Towers Watson this year

October 31, 2016 by Canadian Underwriter

Dominic Casserley, president and deputy chief executive officer of Willis Towers Watson plc, will be leaving the firm when his employment agreement ends Dec. 31, the London-based firm announced recently. The US$18-billion merger of Willis Group Holdings plc and Towers

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Hub International acquires New Dimensions Underwriters Ltd.

September 8, 2016 by Canadian Underwriter

Global insurance brokerage Hub International Limited has acquired Edmonton-based New Dimensions Underwriters Ltd. The terms of the acquisition of the managing general agency were not disclosed, notes a statement this week from Chicago-based Hub International, which provides property and casualty,

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Arthur J. Gallagher reports brokerage segment revenues up US$53.5 million in Q2

July 29, 2016 by Canadian Underwriter

Itasca, Ill.-based Arthur J. Gallagher & Co. (AJG) released its financial results on Thursday, announcing that its brokerage segment revenues were up to US$939.1 million as reported in the second quarter of 2016 from US$885.6 in Q2 2015. For the