Canadian Underwriter

Road forks meet to represent a merger
News Insurance

U.K.-based firm buys two Canada brokerages

September 12, 2023 Canadian Underwriter Staff

Looks as if the summer 2023 P&C brokerage merger train will keep on rolling into the fall. Specialist insurance and reinsurance broker BMS Group has acquired Canada-based insurance brokers, Smith & Reid Insurance Brokers Ltd. and O’Neil Insurance. Smith &

Picture of the canadian flag taken in front of a cold and blue business building.
News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

What’s driving Navacord’s M&A growth strategy

June 30, 2023 by David Gambrill

Canada’s fourth-largest brokerage, Navacord, took another step Wednesday in building what it calls “The Great Canadian Brokerage,” announcing an M&A deal with Mitchell McConnell Insurance Ltd. in New Brunswick. Mitchell McConnell Insurance, whose legacy dates to 1927, is headquartered in

Contract waiting for a signature
News AnnouncementsBrokersCommercial LinesInsuranceMergers and Aqcuisitions

Acquisition broadens NFP’s Ontario base

June 8, 2023 Philip Porado

NFP has acquired Rhodes & Williams Ltd. in a transaction that closed May 24, the company said in a press release. The move expands NFP’s Ontario presence “and increases its P&C capabilities and scale across personal risk and commercial lines,”

Mergers and acquisitions due diligence is important
News BrokersInsuranceMergers and Aqcuisitions

Will fewer mergers reduce reps and warranties insurance pricing?

June 7, 2023 Jason Contant

Pricing in the representations and warranties (R&W) insurance market has softened relative to the hard market conditions experienced from the start of 2021 into the first half of 2022, industry professionals told CU. R&W insurance protects against financial loss arising

Two groups of employees join together after merger
News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

BrokerLink buys Burlington brokerage

June 6, 2023 Philip Porado

For the sixth time so far in 2023, BrokerLink has grown its market share through M&A, this time with the acquisition of Burlington, Ont.-based T.K. WoodMar Insurance & Financial Group. WoodMar has offered commercial (business owner, liability and commercial vehicle),

Two groups in parentheses strive for unity. Generalization and reunification into a larger organization. Merger of companies, joining forces. Reconciliation and consensus.
News BrokersEarnings / RatingsInsuranceMergers and Aqcuisitions

McDougall-McFarlan merger just the beginning for Definity

May 15, 2023 by David Gambrill

McDougall’s $232-million merger with Ontario brokerage McFarlan Rowlands last week is only the beginning for Definity, which is seeking more M&A growth to put it into the Top-5 P&C insurance companies in Canada. In its 2023 Q1 earnings call, Definity

Blocks with M&A written on them
News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

Stoneridge Insurance Brokers expands its Canadian footprint

February 17, 2023 by Alyssa DiSabatino

Stoneridge Insurance Brokers (SIB) has expanded its P&C business on both coasts, with its acquisition of Eisenhauer Insurance Inc. in the Maritimes and Asset Insurance Brokers in western Canada.   Plus, SIB’s CEO says the brokerage is in the process

Board meeting
News AnnouncementsEmploymentInsuranceLegalMergers and Aqcuisitions

Canadian P&C insurer reveals plan to go private

December 9, 2022 by David Gambrill

The Insurance Company of Prince Edward Island (ICPEI) has proposed deal that would have company directors, executives, certain employees and investors buy a majority stake in the insurance company and take its ownership private. The proposed deal was announced Friday

Cloud file folder being accessed by an insurance broker
News BrokersInsuranceMergers and AqcuisitionsProfessional DevelopmentTechnology

Do digitally efficient brokerages make better acquisition targets?

December 2, 2022 Alyssa DiSabatino

Brokerage 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

Business owner in a paperwork avalanche
News BrokersEmploymentInsuranceLegal

What selling a brokerage and ‘The Bachelor’ have in common

November 17, 2022 Philip Porado

Dating takes time, and hours of preparation – even The Bachelor takes a full season for the prospective bride-to-be to sort  through all the contestants. And the process of selling your brokerage is no different, according to a brokerage M&A

Older businessman looking worried about getting fired
News BrokersInsuranceMarkets / CoveragesMergers and AqcuisitionsProfessional Development

What happens to wealth advisors when P&C brokers buy them out?

November 4, 2022 Philip Porado

Succession 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.

Businesspeople shaking hands over a signed contract
News BrokersClaimsCommercial LinesInsuranceLegalMarkets / CoveragesMergers and AqcuisitionsRisk

Selling your brokerage? Don’t forget to tell your clients

October 31, 2022 Michael Carey

Imagine 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