Navacord has made its fifth and largest transaction of the year with the acquisition of British Columbia-based SeaFirst Insurance Brokers, effective Apr. 1. With roots dating back to 1950, SeaFirst Insurance has since grown to one of the largest commercial…
M&A activity this month has seen two major Canadian brokerages—Westland and Brokerlink—expanding their practices nationally, and one U.S.-based brokerage entering the Canadian market. B.C.-based Westland Insurance expanded its P&C practice with three acquisitions across Ontario, Alberta and Manitoba in April. …
McDougall Insurance has merged with 100-year-old brokerage Rayburn Insurance Brokers Ltd., a fourth-generation family-owned business located in Tweed, Ont. Rayburn Insurance has been in business since 1922. The brokerage serves Tweed, Northbrook and surrounding areas, offering home, auto, commercial, farm,…
An M&A transaction can become even more complicated for both seller and buyer alike when a cyber breach occurs during the deal, experts at NetDiligence Cyber Risk Summit shared. Due diligence and adequate representations and warranties (R&W) coverage during the…
It’s not going to be a walk in the park, but experiencing a cyber breach isn’t necessarily all doom and gloom, either. A cyber-attack may help an industry organization up the ante on their cybersecurity — and that makes them…
Hub International Limited has acquired two western Canadian crop hail insurance companies within a two-week period. Hub announced on Mar. 4 it had acquired Leduc, Alta.-based AG Direct Hail Insurance Ltd. It acquired Regina-based Canadian Hail Agencies Inc. on Feb…
Threats of an economic recession in Canada are not likely to dampen mergers and acquisitions activity in the property and casualty insurance brokerage sector in 2023, one M&A expert predicts. Although M&A activity contracted in some industry sectors towards the…
Stoneridge Insurance Brokers (SIB) has expanded its P&C business on both coasts, with its acquisition of Eisenhauer Insurance Inc. in the Maritimes and Asset Insurance Brokers in western Canada. Plus, SIB’s CEO says the brokerage is in the process…
Alberta-based Myrnam Insurance Ltd. is BrokerLink’s first acquisition of 2023. The deal expands BrokerLink’s presence in St. Paul, Alta., and surrounding areas. As a fourth-generation, family-owned business, Myrnam Insurance has been providing auto, property, business and farm insurance across Alberta…
Middle market and non-specialty insurers will be the central targets of consolidators into 2024, and some may even withdraw entirely from the P&C insurance market, suggested Phil Cook, P&C consultant and chairman of Omega Insurance Holdings Inc. at the Insurance…
Industry veteran Doug Morrow has joined Westland Insurance as its new vice president of commercial insurance for Alberta, the brokerage announced earlier this week. Most recently president and CEO of Excel Insurance Group, Morrow joined Westland as vice president, commercial…
Westland Insurance Group and BrokerLink ended 2022 with a bang, closing several merger and acquisition deals in December and bringing combined yearly transactions to more than 50 acquisitions. Westland announced in December the acquisition of Nova Scotia-based Gateway Insurance Group…