Intact Financial Corporation’s integration of RSA plc is on track, with earnings slightly better than originally anticipated, the insurer’s chief executive officer reports. The deal increases Intact’s specialty lines presence in North America by close to 30%, Intact Financial Corporation…
Private equity-backed brokerages that acquire 100% of a brokerage and then offer the ability to roll over some equity continue to be Canada’s most popular M&A model, but others are gaining traction, a P&C transaction advisor says. “While obtaining markets…
When it comes to selling your brokerage, timing is everything. Principals considering selling their brokerage should always ask themselves when is the best time to exit in terms of career and family situation, and then work backwards to plan from…
Western Financial Group began the New Year with the announcement that it has acquired a full-service brokerage located in southern Ontario. Western Financial’s latest acquisition of Wiesner Insurance Inc. “adds a significant commercial interest in Ontario,” the large brokerage said…
Two large Canadian property and casualty brokerages — Navacord and Westland Insurance — continue to grow with the announcement of their latest acquisitions in Ontario and Manitoba. On Thursday, commercial brokerage Navacord Corp. said it added Ontario-based brokerages Ives Insurance…
Ontario brokerage StoneRidge Insurance Brokers (SIB) has entered into a partnership with Underwriters Alliance, Inc. (UAI) to expand its service offering in group benefits and human resources services. In another announcement, large brokerage Navacord said it had completed the integration…
Louis Gagnon, Intact Insurance’s president of Canadian operations, is pleased with the insurer’s integration of RSA into its operations and the calibre of talent it has acquired. At the beginning of June, Intact Financial Corporation and Danish insurer Tryg A/S…
Large brokerages Westland Insurance Group Ltd. and Hub International Limited have both announced recent mergers and acquisitions activity. On Tuesday, Surrey, B.C.-headquartered Westland said it had acquired personal and commercial lines brokerage Insurance Unlimited in Mississauga, Ont. The following day,…
Small- and medium-sized enterprises (SME) surveyed by KPMG Canada have identified organic growth as a top strategy, followed by digital technology investments. Of the 505 respondents to KPMG’s Business Outlook Poll, nearly three-quarters (71%) identified organic growth as a top…
A Hub Canada executive says M&A is likely to heat up as serious buyers take renewed interest in P&C brokerages. In an interview with Canadian Underwriter, Greg Belton, executive chairman of Hub International Canada, said there is “no lack of…
With the Ontario government poised to pump more funding into child care services, the timing was right for brokerage McFarlan Rowlands to acquire Magenta Insurance Professionals, a niche insurance broker focused on children and youth activities, says McFarlan Rowlands CEO…
Buyers are paying up to double-digit multiples for Canadian commercial lines property and casualty brokerages, while pricing for smaller retail brokerages has softened, a P&C industry consulting firm has observed. “Some of the prices being paid for larger commercial brokerages…