Jones Brown acquired by large international brokerage
January 8, 2019 by Greg MeckbachCanadian brokerage Jones Brown Inc. has been acquired by Arthur J. Gallagher & Co., Itasca, Ill.-based Gallagher announced Tuesday. Jones Brown, which places both commercial and personal property and casualty insurance, has offices in Vancouver, Calgary, Toronto and Hamilton. “The…
2019 Executive Outlook | Denis Dubois, Desjardins
January 2, 2019 Canadian UnderwriterCanadian Underwriter approached Canadian P&C industry executives with two questions: 1) What is the single most important change the industry must make looking forward into 2019? 2) How might this change be brought about? Their answers, featured in our 2019…
Private equity firm to acquire 50% interest in western Canadian insurer
December 19, 2018 by Jason ContantAn Alberta-based private equity company announced Tuesday it has entered into a letter of intent to acquire a 50% interest in a western Canadian-based property and casualty insurance company for $2 million. The Western Investment Company of Canada, a publicly…
Calgary claims vendor now owned by CoreLogic
December 19, 2018 by Greg MeckbachCoreLogic Inc. announced Wednesday it has closed its acquisition of Symbility Solutions Inc. Irvine, Calif.-based CoreLogic – which provides risk data on properties to property and casualty insurers – already owned 28% of Symbility, a Calgary-based vendor of claims processing…
CoreLogic takeover of Symbility approved by shareholders
December 14, 2018 by Greg MeckbachCanadian claims software vendor Symbility Solutions Inc. is a step closer to being acquired by data provider CoreLogic Inc. Calgary-based Symbility said Thursday an overwhelming majority of its shareholders have approved a $160-million deal originally announced Oct. 22. The deal…
What could stop insurers from being ‘uberized’
December 7, 2018 by Greg MeckbachAmazon and Google may disrupt the insurance industry some day, but don’t expect either of these firms to start underwriting, suggests the head of one of Canada’s largest property and casualty insurers. “The Googles and Amazons of this world might…
Brokerage M&A deals heat up in Winter
December 5, 2018 by Jason ContantBrokerage mergers and acquisitions (M&A) are ramping up in Canada, with two separate deals in Ontario and Saskatchewan announced Tuesday. In Ontario, Burrows Insurance Group Inc., located in Peterborough and Oshawa, Ont., joined BrokerLink. In Saskatchewan, Andrew Agencies Ltd. acquired…
Employment down over 10 years among Canadian P&C carriers
December 4, 2018 by Greg MeckbachThe number of people employed by property and casualty insurers in Canada has dropped slightly over the past 10 years but increased from 2016 to 2017, a study released Tuesday says. The total number of people working for P&C carriers…
Disputed claim from $1.2-billion ponzi scheme goes to trial in Ontario
December 3, 2018 by Greg MeckbachA $300 million professional liability insurance claim from a bank could be the subject of a court trial in Ontario. The Supreme Court of Canada announced last week it will not hear an appeal of Toronto-Dominion Bank, N.A. v. Lloyd’s…
Alister Campbell to lead PACICC in February 2019
December 3, 2018 by Jason ContantAlister Campbell, a 30-year industry veteran, has been appointed president and CEO of the Property and Casualty Insurance Compensation Corporation (PACICC), effective Feb. 4, 2019. Campbell’s appointment marks the retirement date of PACICC’s long-time president and CEO, Paul Kovacs, who…
How brokers can benefit from Instagram
November 30, 2018 by Greg MeckbachBrokers should be using Instagram and other social media sites to establish themselves as “thought leaders,” Economical Insurance advises. “Instagram is a great channel to share content and share your team culture because at the end of the day, I…
How consolidation can “regenerate” MGAs
November 27, 2018 by David GambrillConsolidation could potentially wind up regenerating Canada’s broker channel generally and managing general agents (MGA) specifically, a senior executive told delegates attending the 2018 MGA Symposium in Toronto on Tuesday. Organized by insurance-canada.ca, the event featured a panel of MGA…