BrokerLink announced its acquisition of Owen Sound, Ont.-based Hanbidge & Bowman Ltd. Insurance Professionals. The deal was effective Mar. 1, the company said said in a Mar. 5 press release. Hanbidge and Bowman Insurance was established in 1947 and provides…
Commercial insurance brokerage Navacord Corp. has completed its first transaction of the year with a partnership with Winnipeg-based Avant Insurance. Announced Wednesday, the deal with the personal and commercial lines brokerage was effective Feb. 1. Navacord said in a press…
British Columbia-based brokerage AMC Insurance Services Ltd. is looking to expand outside its home province, the brokerage’s vice president told Canadian Underwriter recently. “We realized in our core business strategy that if we want to continue to be a provider…
Market dynamics are making it tougher for start-up insurtechs to find willing insurance company partners, and some say digital specialization is the key for insurtechs to make their way into the squeezed P&C industry. “Focus on specific differentiation,” advises Marcus…
Editor’s Note: This story has been corrected to clarify that Keyes Insurance was not acquired by the Canadian Broker Network but rather joined its membership. Keyes Insurance remains a fully independent brokerage solely owned by Shaun Keyes. Canadian Underwriter apologizes…
Tax filing season is on the horizon, which means it’s time for Canadian brokerages and insurance companies to consider how they’ll treat GST, HST or QST payments, Yakoob Vayani, a partner at KPMG in Canada in Indirect Tax, Advisory, told…
Alberta brokerage Drayden Insurance has announced the acquisition of Darson Insurance Services in Stony Plain, Alta. Drayden Insurance is a division of Ontario brokerage McDougall Insurance, which itself is a subsidiary of Definity Financial Corporation. In October 2022, Definity increased…
Aon expanded its worldwide property and casualty insurance market presence by today acquiring NFP — a leading middle market P&C broker, benefits consultant, wealth manager and retirement plan advisor. Aon will acquire NFP for an estimated $13.4 billion at closing.…
Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values,…
Private equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers consumers the ability to quote, purchase and manage car and home insurance policies entirely online.…
New York-headquartered insurance services provider Amynta Group has entered into a definitive agreement to acquire specialty insurance managing general underwriter (MGU) Sutton Special Risk Inc. “The acquisition of Sutton expands Amynta’s offerings in the accident and health market and accelerates…
How can consolidators afford to buy brokerages when interest rates on bank loans to finance deals have steeply increased? Firms that are actively engaged in brokerage buying and selling told CU they have become more selective. “We are getting a…