Which factors impact DEI programs at P&C brokerages
April 3, 2023 Philip PoradoThe size of a Canadian P&C brokerage and the makeup of its senior leadership continues to drive whether employees have access to formal diversity, equity and inclusion (DEI) programs. A Canadian Underwriter online survey, fielded in Jan. and Feb. 2023, and…
Do digitally efficient brokerages make better acquisition targets?
December 2, 2022 Alyssa DiSabatinoBrokerage owners shouldn’t just invest in digitization for its own sake, says one financial advisor. They should do it to make a purchase and integration easier for consolidators. Consolidators don’t necessarily expect small brokerages to digitize before acquisition, said Alex…
What happens to wealth advisors when P&C brokers buy them out?
November 4, 2022 Philip PoradoSuccession planning is a key component of the acquisition strategies employed by P&C brokers buying wealth management, retirement planning and employee benefits advisories. That said, P&C brokerage buyers aren’t looking for the sellers to leave right away after the sale.…
Selling your brokerage? Don’t forget to tell your clients
October 31, 2022 Michael CareyImagine you’re a client who calls your broker to talk about renewing a policy, only to find they’ve sold the business and moved to Florida. It’s hardly an elegant retirement notification. A client would much rather be told about the…
Why this mining and forestry brokerage expanded
January 24, 2022 by Alyssa DiSabatinoEditor’s Note: This story has been changed to reflect the fact that the Sudbury branch is being led by a team of local insurance experts. Gifford Carr Insurance Group, an Ontario-based personal and commercial insurance brokerage, is expanding into…
Merger mania: Multiple brokerage deals announced in May
May 11, 2021 by Jason ContantMay 2021 came in with a bang for Canadian brokerages involved in mergers and acquisitions activity, particularly in western Canada and Ontario. Over the course of a week, at least seven acquisitions were announced in the Canadian P&C brokerage space.…
Brokerages snapped up coast-to-coast in latest M&A deals
March 3, 2021 by Jason ContantCanadian brokerage acquisitions continue coast-to-coast with the recent purchases of four brokerages in British Columbia, Saskatchewan, Manitoba and New Brunswick. Navacord, B.C.-based brokerage Waypoint Insurance, Archway Insurance and Westland Insurance Group (which bought two brokerages) all made acquisition announcements at…
COVID’s impact on brokerage M&A: Myth versus reality
December 10, 2020 by Greg MeckbachThe onset of the COVID-19 pandemic made it difficult to raise money from major banks to finance mergers and acquisitions, but well-run brokerages will still be attractive to buyers, suggests an expert in brokerage valuation. “When COVID hit, the banks…
Guy Carpenter names new head of Canadian operations
August 5, 2020 by David GambrillPeter Askew has been named president and CEO of the Canadian business of global reinsurance specialist Guy Carpenter & Company LLC, a business of Marsh & McLennan Companies. Effective immediately, Askew will be responsible for Guy Carpenter’s reinsurance broking activities…
Speculative ripple effects of the Aon-Willis merger on the Canadian reinsurance scene
March 20, 2020 by David GambrillAon plc’s announced agreement to acquire Willis Towers Watson in early March for $30-billion in an all-stock deal raises a host of interesting speculative possibilities for Canada’s reinsurance market, a former reinsurance executive in Canada told Canadian Underwriter recently. Among…
These Canadian brokerages are re-branding to NFP
February 26, 2020 by Greg MeckbachDalton Timmis Insurance Group Inc. and McLean Hallmark Insurance Group Ltd. are among the Canadian brokerages who are now adopting the NFP brand name, New York City-based NFP announced Tuesday. NFP closed its acquisition of Toronto-based McLean Hallmark this past…
How brokers can talk clients out of declining coverages
July 10, 2019 by Adam MalikCompanies looking to save a few bucks by declining certain insurance coverage options are putting themselves at risk, and it’s up to brokers to ensure their clients understand the consequences. What do you tell a commercial client who doesn’t want…