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 &

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 hands shaking over top of a city with puzzle pieces below
News BrokersMergers and Aqcuisitions

This holding company’s first foray into Canadian P&C insurance

December 8, 2022 by David Gambrill

The Jim Pattison Group, a holding company that does $14-billion in business, has become a minority investor in Alberta-based brokerage HighStreet Insurance Group. The strategic investment marks the entry of the holding company into the Canadian P&C insurance space. Terms

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

digital quotation tool for consumers buying insurance
News BrokersEmploymentInsuranceMergers and Aqcuisitions

Does digitizing help smaller brokerages appeal to buyers?

November 28, 2022 Alyssa Di Sabatino

Small or family-owned brokerages prioritizing digitization strategies will be in a better position to grow through a merger or acquisition, experts told Canadian Underwriter. But it may be easier said than done, given financial or resource constraints faced by many

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.

two dogs retrieving the same stick on the beach
News Commercial LinesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Paw-sitively busy times for Canadian pet insurers

November 2, 2022 by David Gambrill

It’s official — everyone and their dogs are announcing pet insurance mergers, acquisitions and partnerships. It started two days ago, when Fairfax Financial Holdings Ltd. completed the US$1.4-billion sale of its interests in Crum & Forster Pet Insurance Group and

Shopping bag leaping from a computer to illustrate e-commerce growth for insurers
News BrokersCommercial LinesEmploymentInsuranceMergers and Aqcuisitions

How acquisitions help P&C brokers boost cross-selling options

October 28, 2022 Philip Porado

Several 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

Magnet draws talent to a company
News BrokersInsuranceMarkets / CoveragesMergers and AqcuisitionsProductsProfessional Development

How to find P&C talent by acquiring wealth planning advisories

October 27, 2022 Philip Porado

Frequent announcements about Canadian P&C brokerages buying retirement and wealth planning advisories raises an interesting question: What do the acquirers offer to the employees of the firms they buy? The short answer is development opportunities, said Terri Botosan, regional president

Window sign indicating a business is for sale
News BrokersCommercial LinesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Selling your brokerage? How to look attractive for buyers

October 26, 2022 Philip Porado

Portfolio analysis is key to buying or selling brokerages, and some portfolios are more attractive than others, Herb Cline, president of CF2K Strategic Consultants, told a session at the Insurance Brokers Association of Ontario’s recent convention. “The flavor of the