Specialized Property Evaluation Control Services, better known as SPECS, has been acquired by J.S. Held LLC, an American consulting firm, the companies announced Tuesday. SPECS, based in Langley, B.C., does property damage assessments, restoration consulting, construction project administration, risk management,…
Hub International Ltd. has reached fifth place worldwide on A.M. Best Company Inc.‘s ranking of brokerages. Hub was formed in 1998 through the merger of 11 Canadian brokerages and has since moved its head office to Chicago. It acquired 13…
The Hartford has signed an agreement to acquire specialty insurer The Navigators Group Inc. for US$2.1 billion in cash. The transaction has been approved by the boards of directors of both companies and is subject to approval by Navigators’ shareholders…
The AXA Group, based in France, has entered into a $15.3-billion agreement to acquire 100% of XL Group Ltd., which includes Canadian subsidiary XL Catlin Canada. The merger agreement, expected to close in the second half of 2018, has been…
With Economical Insurance on the road to demutualization, the question has always been: will other mutuals follow suit? But another possibility is that some of the smaller Canadian mutual insurers may merge to form larger entities in anticipation of demutualizing…
Quebec independent brokerage Fort Financial Group Inc. has acquired Montreal based Assurances ABZ, a property and casualty insurance company specializing in group benefits and serving business owners and executives. Fundamentally, the move is an example of an independent broker finding…
Octo Telematics and Willis Towers Watson (WTW) have reached an agreement in which the former will acquire the latter’s usage-based insurance (UBI) assets, setting the stage for the two companies to work together on more auto telematics opportunities. Leveraging Octo’s…
Willis Towers Watson plc reported Thursday its commissions and fees from corporate risk and broking were $624 million during the three months ending June 30, a slight drop from $627 million during the same period in 2016. “North America organic…
Ross McDougall, CEO of McDougall Insurance & Financial, announced on Tuesday that the brokerage has merged with Monkman Gracie Johnston Insurance effective immediately. Operating out of Peterborough, Ont., Monkman Insurance and its 22 employees join Belleville, Ont.-headquartered McDougall Insurance to…
Officials with Allied World Assurance Company Holdings AG “fully expect” that all closing conditions for the merger with Toronto-based Fairfax Financial Holdings Limited will be met by Thursday, Allied World suggested in Wednesday in a press release. A deadline, for…
CEP Forensic Inc. and Sintra Engineering Inc., eastern and western Canadian forensic engineering providers, have announced a merger to create what they are calling the country’s largest forensic engineering firm. The newly created entity, CEP-Sintra, will have close to one…
Toronto’s Fairfax Financial Holdings Ltd. announced Thursday it now has “all regulatory approvals that are necessary” for it to merge with Swiss insurer and reinsurer Allied World Assurance Company Holdings AG but suggested fewer than 90% of Allied World shareholders…