BrokerLink’s first deal of 2023
February 7, 2023 by David GambrillAlberta-based Myrnam Insurance Ltd. is BrokerLink’s first acquisition of 2023. The deal expands BrokerLink’s presence in St. Paul, Alta., and surrounding areas. As a fourth-generation, family-owned business, Myrnam Insurance has been providing auto, property, business and farm insurance across Alberta…
Does digitizing help smaller brokerages appeal to buyers?
November 28, 2022 Alyssa Di SabatinoSmall 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…
Selling your brokerage? How to look attractive for buyers
October 26, 2022 Philip PoradoPortfolio 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…
The impact of the pandemic on insurance mergers
March 24, 2020 by Greg MeckbachBrokerages negotiating a merger or acquisition don’t have to stop because of the COVID-19 pandemic, a Canadian M&A advisor suggests. “A good deal can get done. I suspect it may take a bit longer,” said Georges Pigeon (pictured), Montreal-based deal…
These Canadian brokerages are re-branding to NFP
February 26, 2020 by Greg MeckbachDalton Timmis Insurance Group Inc. and McLean Hallmark Insurance Group Ltd. are among the Canadian brokerages who are now adopting the NFP brand name, New York City-based NFP announced Tuesday. NFP closed its acquisition of Toronto-based McLean Hallmark this past…
Three reasons fintech is driving brokerage acquisitions
December 11, 2019 by Greg MeckbachDisruption by fintechs will be one driving force behind mergers and acquisitions among insurance brokerages, industry executives say.“I think fintech will help perpetuate this continued consolidation trend because I think at the small end of the market, fintech is viewed…
Why your brokerage could be an attractive takeover target
December 2, 2019 by Greg MeckbachWhen private equity players are looking to buy firms they think are “recession proof” and brokerage owners reach retirement age, it’s a recipe for more mergers and acquisitions, insurance professionals heard last week at KPMG Canada’s 28th annual insurance conference.…
What’s driving the brokerage acquisition trend
September 17, 2019 by Greg MeckbachNow is a good time for brokerages to sell their businesses and in some cases, the buyers come from outside the industry, speakers told insurance professionals at the recent A.M. Best briefing. “If I was in the [P&C] business I…
This Canada-based insurance giant is taking a break on mega-mergers
August 14, 2019 by Greg MeckbachIf a blockbuster insurer merger gets announced tomorrow, it probably won’t involve Toronto-based Fairfax Financial Holdings Ltd., which has grown steadily through insurer acquisitions over the past 34 years. “We are not looking to add in a significant way from…
Intact’s priorities for mergers and acquisitions
August 1, 2019 by Greg MeckbachBrokers can expect to see insurers representing nearly a fifth of the Canadian P&C market to be bought and sold, the head of Canada’s largest carrier suggested Wednesday. “We laid out the perspective seven or eight years ago that 20…
The strategy behind BrokerLink’s latest acquisitions
March 12, 2019 by Greg MeckbachIf you run a brokerage in Ontario, Alberta or Atlantic Canada and there is no BrokerLink in your town, there soon could be. Intact Financial Corp.’s BrokerLink unit has closed seven brokerage acquisitions since Jan. 1, said Paul Meyer, BrokerLink’s…
Where Fairfax is going with future acquisitions
February 19, 2019 by Greg MeckbachWhile Fairfax Financial Holdings Ltd. is not ruling out the possibility of buying small specialty insurance players, don’t expect the firm to buy any big insurers any time soon. Toronto-based Fairfax, whose holdings include Northbridge Insurance, bought the majority of…