Canadian Underwriter

The latest brokerage to join the parade of M&A in 2020

January 8, 2020   by Jason Contant

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Another day, another acquisition.

McDougall Insurance and Financial has merged with Provenance Insurance Services Ltd., which operates as Knox Hutchison Insurance Services (North Bay), Municipal Insurance Services (North Bay) and Dynamic Insurance Brokers (Sudbury).

Provenance will join with McDougall to form an independent broker with 36 offices in Ontario, more than 400 employees, and more than $370 million in P&C premium and a strong and growing financial services division.

Ross McDougall, CEO of Ontario brokerage McDougall Insurance and Financial, welcomed into the fold the 30 employees of Provenance, a northern Ontario brokerage. “All employees of Provenance Insurance will remain with the organization and both locations will continue unchanged,” he said in a release. “All members of the management team, including the current owner and president George Hutchison, will continue in their current position after this merger.”

McDougall said Provenance “is an excellent partner for McDougall Insurance, with their strong specialization in commercial insurance, including municipal, non-profit, First Nations, entertainment, mining and long-haul transportation. This merger greatly enhances the geographic coverage for McDougall Insurance as well as adding to our areas of specialization.”

Other acquisitions so far this year:

  • Hub International announced Monday the acquisition of RHC Insurance Brokers Ltd. and RHC Insurance Brokers (Cranbrook) Ltd. (RHC). Headquartered in Nelson, B.C., with nine additional offices across the province, RHC is an independent brokerage that provides personal and commercial insurance (including home, auto, business, homesharing insurance, recreation and watercraft, and pet insurance)
  • Rhodes & Williams Group of Companies merged with Ottawa-based Jarrett Thompson Insurance and Financial Services, effective Jan. 1. Personal and commercial lines brokerage Jarrett Thompson has been serving the community since 2010, and previously as a State Farm agent
  • On Jan. 2, Archway Insurance (one of Atlantic Canada’s largest brokerages) announced it would be adding new locations in southwestern New Brunswick following the acquisition of Groom Insurance Limited, effective Jan. 1. The deal brings the number of Archway locations to 32, with approximately 75,000 and $150 million in premium volume
  • On Jan. 6, NFP – a brokerage and consultant that provides P&C, employee benefits, retirement and individual solutions – said it had acquired Elective Benefit Services, a transaction that actually closed last June. Based in Waterloo, Ont., Elective Benefit specializes in group benefits and retirement planning.

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