Segment
Brokers
These red flags may waive a brokerage buyer off a deal
November 24, 2023 David GambrillRising interest rates are changing the brokerage M&A environment and giving sellers a shorter timeline to produce the projected earnings. And chances are, if they haven’t produced reliable returns already, the buyers may balk on a purchase, said Yan Charbonneau,…
Has private equity interest in P&C brokerages peaked?
November 21, 2023 by Jason ContantPrivate equity interest in the Canadian P&C brokerage space is showing no sign of slowing down, industry observers said last week at KPMG’s 2023 Insurance Conference in Toronto. Private equity groups remain eager to acquire Canadian brokerages, said Andrew Mathias,…
Will rising interest rates kill brokerage M&A?
November 20, 2023 David GambrillReports of the death of brokerage mergers and acquisitions in an era of higher interest rates have been greatly exaggerated. Back in early 2023, Canadian Underwriter’s National Broker Survey noticed a curious phenomenon: brokers’ interest in M&A growth had dipped…
How Canadian P&C firms are developing diversity
November 16, 2023 Alyssa Di SabatinoRegardless of where Canadian brokerages are in their efforts to build diverse workplaces, they generally agree on three good ways to get there. When asked what actions brokerages could take to increase diversity, survey respondents advocated promoting diverse talent to…
Aon’s Thea Baird wins leadership award
November 15, 2023 Philip PoradoThea Baird, CIP, CAIB, this year’s winner in the Emerging Leaders category of the Insurance Institute of Canada’s 2023 National Leadership Awards has a history of going the extra mile. “You can message me at three o’clock in the morning…
Why there’s no such thing as ‘bad risk’
November 14, 2023 Adam MitchellNew leads are crucial for any brokerage’s growth and continued business success. Although that’s a no-brainer, here’s something to remember when it comes to converting those leads into clients: there’s no such thing as good risks and bad risks. The…
BrokerLink completes triple acquisition
November 13, 2023 by Jason ContantBrokerLink has expanded its well-established footprint in the Greater Toronto Area with the acquisition of brokerages All-Risks Insurance (Burlington), Dowhaniuk Insurance and Heinsoo Insurance. BrokerLink announced Monday it completed the asset acquisition of Solutions Financial PCC Inc., operating as All-Risks…
How deliberate, diverse recruiting can fill brokers’ talent gaps
November 8, 2023 Alyssa Di SabatinoProperty and casualty (P&C) brokerages continue to report trouble finding qualified new recruits. That’s led many in the P&C insurance industry to suggest firms widen the hiring lens and open recruitment to a more diverse range of candidates. It seems…
What P&C brokerage buyers are really looking for
November 8, 2023 by Jason ContantBuyers of Canadian P&C brokerages are becoming more selective about the brokerages they will pursue, with an increase in demand for commercial lines-focused brokerages, a new report from advisory firm Smythe LLP says. P&C consolidators continue to diversify their acquisitions,…
Brokerage, carrier partner up to offer digital auto coverage
November 7, 2023 by Jason ContantSquare One Insurance Services and Zurich Canada have partnered to offer personal auto insurance to Ontario drivers, with a Quebec and Alberta rollout planned for early 2024. “What sets this offering apart is our fully digital experience that allows our…
Behind the scenes of Hub’s latest Canadian acquisition
November 6, 2023 by Jason ContantIn a bid to shore up its personal and commercial insurance capabilities, Hub International Limited has acquired the assets of Quebec-based D’Onofrio Insurance Inc. Located in Laval, Que., D’Onofrio Insurance is an independent brokerage offering personal and commercial insurance to…
How to tame increasingly ferocious NatCats
November 6, 2023 David GambrillEscalating natural catastrophe losses are top of mind for specialty insurers in several different commercial lines, most notably property, said Jeff Coulson, director of claims for commercial specialty at Echelon Insurance. There were 15 declared Cats (events causing insured claims…