Canadian Underwriter


Business growth concept
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BrokerLink reveals 18-month growth target

April 16, 2024 by Jason Contant

BrokerLink aspires to increase its direct premiums written (DPW) by more than $1 billion over the next year-and-a-half. In 2023, BrokerLink surpassed $3.5 billion in DPW. “Our ambition is to be $5 billion by the end of 2025,” president Joe

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News AnnouncementsBrokersMergers and AqcuisitionsTechnology

Onlia acquired by PE firm focused on Canadian P&C distribution

March 26, 2024 by David Gambrill

Southampton Financial Inc., a private equity firm focused on the Canadian property and casualty insurance distribution space, has agreed to acquire Onlia Insurance from Achmea and Fairfax Financial Holdings Ltd. Headquartered in Toronto, Onlia is a digital insurance agency that

Two companies signing an agreement to merge
News BrokersInsurance

Two firms complete Ontario acquisitions

March 8, 2024 Philip Porado

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

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News BrokersEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Navacord’s first deal of the year 

February 29, 2024 by Jason Contant

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

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News BrokersCommercial LinesInsuranceMergers and AqcuisitionsProfessional Development

Brokerage looking to expand outside home province

February 9, 2024 by Jason Contant

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

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How insurtechs can stand out in a crowded P&C market

January 17, 2024 by David Gambrill

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

M&A concept
News BrokersMGAs

Two brokerages, one MGU involved in recent deals

January 15, 2024 by Jason Contant

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

Business tax deductions
News BrokersInsurance

How brokerage mergers could create tax benefits

January 15, 2024 Philip Porado

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

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News BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

McDougall’s Drayden Insurance acquires Alberta brokerage

January 3, 2024 by Jason Contant

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

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News BrokersInsuranceMarkets / Coverages

Aon to acquire NFP in major brokerage merger

December 20, 2023 Philip Porado

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.

Merger and acquisition business concept
News AnnouncementsCommercial LinesInsuranceMergers and AqcuisitionsMGAsProfessional Development

MGA acquires Echelon’s surety division

December 11, 2023 by Jason Contant

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,

Digital puzzle pieces; digital M&A concept
News BrokersCommercial LinesEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsMGAsProfessional DevelopmentTechnology

Private equity firm acquires digital brokerage

December 8, 2023 by Jason Contant

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.