Keyword
merger
161 companies have exited Canadian P&C market in past 20 years, 96% voluntarily: PACICC
April 13, 2017 Jason Contant, Online EditorOver the past 20 years, 161 different insurance companies have exited the Canadian P&C market, 96% of which were voluntary exits, according to a new report from the Property and Casualty Insurance Compensation Corporation (PACICC). The report, the 11th in…
Canadian Reports and US-Reports merge to create risk solutions company Afirm
February 22, 2017 by Canadian UnderwriterH.W. Kaufman Financial Group announced on Wednesday that it has “strategically” combined US-Reports and Canadian Reports, rebranding both companies under the name Afirm. The merger will continue their global presence and allow a single source for loss control inspection, premium…
CMW Insurance Services, Capri Insurance Services merger positions new company for growth
January 10, 2017 by Canadian UnderwriterThe merger of CMW Insurance Services Ltd. and Capri Insurance Services Ltd. creates one of the largest independent, employee-owned insurance brokerages and risk management firms in Western Canada, the companies reported Monday. Effective Jan. 1, 2017, “the merger leverages the…
Fairfax-Allied World deal among the ‘most noteworthy’ of recent insurance M&A announcements: Willis Re
January 3, 2017 by Canadian UnderwriterThe merger agreement between Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG – announced Dec. 18 – reflects “the view that the new U.S. government may provide a more favorable corporate tax environment” and demonstrates “that scale…
Burns Demeyere & Associates to join McFarlan Rowlands Insurance Brokers in 2017
November 29, 2016 by Canadian UnderwriterBurns Demeyere & Associates (BDA), a Tillsonburg, Ont.-based brokerage with a history dating back about 125 years, will join McFarlan Rowlands Insurance Brokers at the beginning of 2017. McFarlan Rowlands – which also has established roots in its community and…
Ontario-based MGAs Excess Underwriting and Towerhill Insurance Underwriters merge
November 3, 2016 by Canadian UnderwriterExcess Underwriting and Towerhill Insurance Underwriters Inc., both coverholders at Lloyd’s, announced on Thursday that they have merged effective Nov. 1. The companies will serve their broker partners as Excess Underwriting operated by Towerhill Insurance Underwriters Inc., said a joint…
Lussier Dale Parizeau, Riverin Girard and Ouellet Fillion to merge
September 28, 2016 by Canadian UnderwriterAn agreement has been reached to merge the operations of Lussier Dale Parizeau (LDP) and Riverin Girard & Associés and Ouellet Fillion, a move expected to enhance customer service and bolster LDP’s presence in Quebec. The deal was announced jointly…
AIG reaches agreement to sell United Guaranty Corporation to Arch Capital for US$3.4 billion
August 17, 2016 by Canadian UnderwriterAmerican International Group, Inc. has entered into an agreement to sell its 100% interest in United Guaranty Corporation (UGC) to Arch Capital Group Ltd. for US$3.4 billion, a move in line with AIG’s continuing efforts to streamline operations and better…
RBC completes sale of RBC General Insurance Company to Aviva Canada
July 4, 2016 by Canadian UnderwriterRoyal Bank of Canada announced Canada Day that the company has completed the previously announced sale of RBC General Insurance Company to Aviva Canada Inc. The RBC Insurance offerings involved in the sale include certain home and auto insurance manufacturing…
Global insurance industry saw significant increases in distribution, M&A in 2015, Conning says
March 29, 2016 by Canadian UnderwriterThe global insurance industry saw significant increases in both insurance distribution and insurance services mergers and acquisitions in 2015, according to a new report. Global Insurance Distribution & Services Sector Mergers & Acquisitions: Building for the Future was released on…
Emmanuel Clarke appointed CEO of PartnerRe
March 24, 2016 by Canadian UnderwriterSix days after the completion of its US$6.9-billion takeover by EXOR S.p.A., PartnerRe Ltd. announced Thursday its new chief executive officer is Emmanuel Clarke, a 46-year-old French national who was president of PartnerRe, a Pembroke, Bermuda-based reinsurer and commercial insurance…