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Strong M&A activity driven by massive push for scale, digitization: PwC Canada

September 27, 2021 Canadian Underwriter Staff

The race to achieve scale, connect digitally with customers and realize synergies are driving continued strong M&A activity in P&C insurance, a recent PricewaterhouseCoopers (PwC) Canada report suggests. Valuations remain at “historic highs” for insurance brokers and MGAs, bringing new

News Insurance

New M&A deals involve Westland, Armour Group

September 9, 2021 by Jason Contant

After a brief lull in mergers and acquisitions activity, the Canadian P&C insurance space has seen a surge in recent announcements. Large Canadian-owned brokerage Westland Insurance Group Ltd. said on Tuesday it had acquired two Alberta brokerages: Riverstone Insurance in

News Insurance

2021 set to be record year for M&A insurance: report

August 31, 2021 Canadian Underwriter Staff

This year will be a record year for mergers and acquisitions insurance, a recent report by global independent broker BMS Group estimates. The inaugural Private Equity, M&A and Tax Insurance Report, released in May, found that while the COVID-19 pandemic

News InsuranceMergers and Aqcuisitions

M&A report: Where Intact-RSA sits among Canada’s largest Q4 deals

March 17, 2021 by David Gambrill

Intact and Danish insurer Tryg’s $10.4-billion play for RSA Insurance Group plc topped the list of Canada’s largest deals announced in 2020 Q4, according to a recent report by corporate law firm Miller Thomson. The report defines the largest M&A

News Insurance

ARAG-DAS deal unites Canada’s titans in legal expense insurance

March 16, 2021 by Adam Malik

Legal expense insurance company ARAG Group has announced that it will be acquiring competitor DAS Legal Protection in Canada. The deal was announced Tuesday in a move that will see the German-based company acquire the Canadian MGA. Terms of the

News Insurance

Brokerage M&A round-up: Which four were bought?

November 9, 2020 by Jason Contant

British Columbia-based Westland Insurance Group Ltd. has moved into the Ontario market, announcing that it has acquired Gillons Insurance Brokers Ltd. The “significant and substantial milestone” supports Westland’s expansion strategy to become a national insurance brokerage, the brokerage said when

News AnnouncementsInsuranceMergers and Aqcuisitions

Intact and Tryg preparing a joint offer to acquire RSA

November 5, 2020 by David Gambrill

A consortium composed of Intact Financial Corporation and Nordic property and casualty insurer Tryg A/S is preparing a cash offer to acquire RSA plc for £7.2-billion (about Cdn$12.3 billion). Intact is Canada’s largest property and casualty insurer, with a market

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The downside of selling for 4 times multiple during COVID

October 23, 2020 by Greg Meckbach

Despite the economic disruption from the COVID-19 pandemic, some brokerage owners could sell their business for multiples of more than four times revenue, but there is potential downside to this, Ontario brokers heard Wednesday at their annual convention. “About 15

News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

Shareholders approve Aon-Willis merger

August 26, 2020 by Greg Meckbach

Aon plc’s proposed acquisition of Willis Towers Watson plc was approved Wednesday by both firms’ shareholders. The merger still requires approval from competition regulators in various jurisdictions (including Canada) plus the Irish High Court. Aon and Willis Towers Watson rank

News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

The link between the Edmonton Oilers and Arthur J. Gallagher’s latest acquisition

August 5, 2020 by David Gambrill

Arthur J. Gallagher & Co. has acquired Edmonton, Alta.-based Insight Insurance & Risk Management Ltd., the official insurance brokerage of NHL hockey’s Edmonton Oilers. Founded in 2013 by CEO Alexis Harke, Insight is a retail insurance broker serving clients throughout

News BrokersCatastrophesInsuranceMergers and Aqcuisitions

Q&A: Business Continuity in the Digital Age

June 1, 2020 by David Gambrill

As an industry challenged by all of the various disasters that the world has to offer, many Canadian property and casualty insurance companies already had business continuity plans in place to keep their operations running in the face of a

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Intact’s other deal: ‘You can bet that other insurers are paying close attention’

August 20, 2019 by Adam Malik

Intact Financial Corp. agreeing to buy On Side Restoration will likely lead to similar deals going forward and while risks exist, one adjuster believes it will probably bring more good than bad to the insurance industry – with a lot