The latest acquisitions from Westland and Hub
October 7, 2021 by Jason ContantLarge brokerages Westland Insurance Group Ltd. and Hub International Limited have both announced recent mergers and acquisitions activity. On Tuesday, Surrey, B.C.-headquartered Westland said it had acquired personal and commercial lines brokerage Insurance Unlimited in Mississauga, Ont. The following day,…
Buy or build: What surveyed Canadian businesses prefer
September 29, 2021 by Jason ContantSmall- and medium-sized enterprises (SME) surveyed by KPMG Canada have identified organic growth as a top strategy, followed by digital technology investments. Of the 505 respondents to KPMG’s Business Outlook Poll, nearly three-quarters (71%) identified organic growth as a top…
Surge in serious buyers to fuel post-pandemic M&A: Hub Canada exec
August 11, 2021 Canadian Underwriter StaffA Hub Canada executive says M&A is likely to heat up as serious buyers take renewed interest in P&C brokerages. In an interview with Canadian Underwriter, Greg Belton, executive chairman of Hub International Canada, said there is “no lack of…
What’s selling hotter than real estate these days? Brokerages
July 15, 2021 by Jason ContantBuyers are paying up to double-digit multiples for Canadian commercial lines property and casualty brokerages, while pricing for smaller retail brokerages has softened, a P&C industry consulting firm has observed. “Some of the prices being paid for larger commercial brokerages…
BrokerLink’s take on the surging demand for brokerage M&A
June 30, 2021 by Jason ContantEDITOR’S NOTE: This article has been corrected to show that BrokerLink has over $2 billion of written premiums. A previous version of this article icorrectly stated the Intact subsidiary had more than $2.5 billion in premium overall, about $700 of…
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.…
Three large Canadian brokerages announce separate M&A deals
April 8, 2021 by Jason ContantThree large Canadian brokerages have announced recent acquisitions of other brokerages. On Thursday, Westland Insurance reported it closed its acquisition of MBS Insurance Brokers, effective Apr. 1. Navacord Corp. added LL Renaissance Insurance Brokerage Canada Limited to its ranks, while…
Go small? Why insurers need a new M&A approach
April 1, 2021 by Jason ContantLarge mega-mergers and acquisition deals may be enticing, but smaller deals actually create more value for insurers, according to a recent report by global management consulting firm McKinsey & Company. The primary goal of six out of 10 transactions (representing…
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…
Why this MGA exec predicts more Canadian MGA consolidation in the future
February 11, 2021 by Jason ContantMore mergers and acquisitions (M&A) activity between managing general agencies (MGA) is likely in the future, since private equity is focusing on this sector, giving MGAs the fiscal tools to make acquisitions, the president and CEO of one MGA told…
Deal Tracker: The latest in brokerage M&A
February 4, 2021 by Jason ContantThe number of mergers and acquisitions in the Canadian P&C insurance space (mostly involving brokerages) has hit double digits already this year, with two large brokerages contributing to the latest round of deal-making. Hub International announced Tuesday that it had…
The latest in brokerage deal-making
January 20, 2021 by Jason ContantBrokerage NFP has expanded its property and casualty brokerage presence in Ontario with the acquisition of EdgeHill Insurance Brokers Ltd. The deal is the latest mergers and acquisitions news in the Canadian P&C space. Also in the news, Canadian Broker…