M&A report: Where Intact-RSA sits among Canada’s largest Q4 deals
March 17, 2021 by David GambrillIntact 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…
ARAG-DAS deal unites Canada’s titans in legal expense insurance
March 16, 2021 by Adam MalikLegal 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…
Brokerage M&A round-up: Which four were bought?
November 9, 2020 by Jason ContantBritish 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…
Intact and Tryg preparing a joint offer to acquire RSA
November 5, 2020 by David GambrillA 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…
The downside of selling for 4 times multiple during COVID
October 23, 2020 by Greg MeckbachDespite 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…
Shareholders approve Aon-Willis merger
August 26, 2020 by Greg MeckbachAon 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…
The link between the Edmonton Oilers and Arthur J. Gallagher’s latest acquisition
August 5, 2020 by David GambrillArthur 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…
Q&A: Business Continuity in the Digital Age
June 1, 2020 by David GambrillAs 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…
Intact’s other deal: ‘You can bet that other insurers are paying close attention’
August 20, 2019 by Adam MalikIntact 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…
Intact buys restoration firm
August 7, 2019 by Adam MalikIntact Financial Corporation has entered the restoration services area. The insurer has struck a deal to acquire Vancouver-based On Side Restoration. The company announced the acquisition late on Aug. 6, which it says will strengthen its ability to provide claims…
American brokerage continues Canadian expansion
July 11, 2019 by Adam MalikUnited States brokerage NFP has acquired Toronto-based McLean Hallmark Insurance Group as part of its strategy to expand into the Canadian market. McLean Hallmark has offices in Toronto, Markham and Mississauga and Halifax. It offers property and casualty coverage in…
M&A activity unlocks this hot new business opportunity
July 11, 2019 by David GambrillGlobal mergers and acquisitions (M&A) activity over the past five years — which reached a total value of almost $3.5 trillion in 2018 — led to a starburst of transactional insurance last year. Transactional risk insurance covers risks related to…