How acquisitions help P&C brokers boost cross-selling options
October 28, 2022 Philip PoradoSeveral Canadian commercial P&C brokerages are actively acquiring wealth management, retirement planning and employee benefits firms so they can boost revenues by adding to their product ranges. The simple math suggests a larger product suite — one that brings in…
Why benefits, retirement and wealth planning are now P&C profit centres
October 14, 2022 Philip PoradoRecent merger deals announced by Canadian commercial P&C brokerages increasingly feature acquisitions of wealth management and employee benefits firms, and this is no accident, brokers tell Canadian Underwriter. This subset of M&A is about P&C brokerages becoming a type of…
Busy month in M&A for BrokerLink, Westland
September 14, 2022 by Jason ContantBrokerLink and Westland Insurance Group announced a series of brokerage M&A deals in September, including the acquisitions of a total of four brokerages and one employee benefits firm between them. BrokerLink announced the acquisition of J.W. Davis Insurance Brokers and…
Ontario auto: Should employee benefits or auto insurers pay out first?
May 17, 2022 by Jason ContantIf the Ontario Progressive Conservative Party moves ahead with one of its proposed changes to auto insurance, it could result in increased claims costs for auto insurers, or else shift the burden more onto extended (supplementary) health insurance policies, says…
Understanding similarities and differences is key to success in employee benefits
November 25, 2021 Canadian Underwriter StaffIf P&C brokers are to succeed in the employee benefits space, both sides of the business need to fully understand the similarities and differences between them, a P&C group benefits advisor has warned. “There’s huge benefit in commercial brokers and…
How one MGA keeps employees moving — virtually
September 15, 2021 Brooke SmithYou may not know the Mayo Clinic’s Dr. James Levine. But you’ve likely heard his now-famous phrase: “Sitting is the new smoking.” With many employees sitting in front of a computer in the comfort of their homes for the past…
Insurer, MGAs give employees more time off during pandemic
September 14, 2021 Brooke SmithThe pandemic has spurred MGAs and one insurer to offer additional paid time off and be more generous with their vacation policies. AXA Group announced Sept. 7 that it was giving its 153,000 employees worldwide two additional paid days off…
What is needed as more P&C brokerages move into employee benefits
September 3, 2021 by Jason ContantWith more and more property and casualty insurance brokerages moving into the employee benefits (EB) space, there is a need to have an integrated technology solution, tech vendor Applied Systems said recently. “We know our P&C customers are moving further…
MGA’s program gives employees money to take time off
September 1, 2021 Brooke SmithYou’re burning out. According to a June survey from Canadian Underwriter, 54% of P&C employees reported feeling at least some stress and burnout working from home. Human resources experts often recommend that employees use their vacation entitlement to recharge, but…
How the pandemic has shifted employers’ priorities ‘overnight’
May 25, 2021 by Jason ContantMore than one year into the COVID-19 pandemic, there has been a massive, “overnight” shift in employers’ appetite towards employee benefits plans, Hub International speakers said during a recent webinar. “There’s a fast movement towards wellness, virtual services, virtual health…
Welcome news for employee benefit providers in Canada
October 24, 2018 by Jason ContantEmployer medical cost inflation in Canada is trending lower than global averages, which is “welcome news for employers providing employee benefits in Canada,” commercial brokerage Aon said Tuesday. For the second year in a row, medical cost inflation in Canada…