Canadian Underwriter

Topic
Mergers and Aqcuisitions

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Desjardins president on why the direct writer expanded into the broker channel

March 28, 2024 by Alyssa DiSabatino

Desjardins’ acquisition of The Insurance Company of Prince Edward Island (ICPEI) will enable the direct writer to diversify its distribution model and expand its national reach, Desjardins president and chief operating officer Valerie Lavoie tells Canadian Underwriter.   The acquisition is

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Desjardins expands into broker channel through M&A deal

March 27, 2024 by David Gambrill

Direct writer Desjardins is acquiring the Insurance Company of Prince Edward Island (ICPEI), an insurer that distributes solely through the broker channel. “With this acquisition, we’re strengthening Desjardins’ position in the Canadian commercial insurance market,” Guy Cormier, Desjardin’s president and

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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

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News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

Navacord expands with third acquisition of the year

March 14, 2024 by Alyssa DiSabatino

All-Risks Insurance Essex has been acquired by Ives Insurance, a Navacord-owned brokerage. The acquisition marks Navacord’s third deal of the year.   Based in Southwestern Ontario, All-Risks Insurance’s Essex branch joins the Navacord fold, effective Mar. 1. The entire All-Risks

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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 BrokersInsuranceMarkets / CoveragesMergers and Aqcuisitions

PE-driven M&A is slowing, despite record deals in 2023

February 20, 2024 by Alyssa DiSabatino

Despite some consolidators slowing their pace — namely, private equity firms — Canadian insurance brokerage M&A reached a record level of deals in 2023. There were 108 publicly announced deals last year, Smythe LLP, a P&C insurance advisory and consulting

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News BrokersCommercial LinesEmploymentInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

Hub’s latest Ontario brokerage acquisition

February 12, 2024 by Jason Contant

Hub International Ltd. has enhanced its personal, commercial and employee benefits services with the acquisition of Ontario brokerage Mitchell Sandham. Located in Oakville, Ont., Mitchell Sandham is one of the oldest and largest independently owned insurance brokerages in the Greater

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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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McDougall’s growth in Alberta proceeds apace

February 1, 2024 by David Gambrill

McDougall Insurance Brokers Ltd. announced Thursday it has merged with MHK Insurance Inc., a 110-year-old independent brokerage based in Alberta. MHK is a full-service brokerage offering home, auto, and commercial insurance products and services, specializing in more than 12 business

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Large brokerage makes commercial deal in Ontario

January 29, 2024 by Alyssa DiSabatino

Acera Insurance Services Ltd. announced its latest deal with KRS Insurance Brokers Ltd., a specialized commercial brokerage based in Newmarket, Ont.   “This partnership supports Acera Insurance’s longstanding dedication to build scale and strengthen the independent brokerage model to provide

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News AnnouncementsBrokersMergers and Aqcuisitions

Why this national consolidator made layoffs

January 19, 2024 by Alyssa DiSabatino

Westland Insurance issued an internal email dated Jan. 15, announcing the layoff of about 30 employees, citing the inability to meet its 2023 financial targets, as well as salaries and expenses that exceeded plan. “Today, I’m sharing some very difficult

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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