Insurance & Risk, Analysis, Events and Careers
The M&A market continues to burn red-hot, with deals for property & casualty and benefits brokers in Canada and the United States up 16% in the first half of 2022 compared to 2021, according to M&A advisory firm OPTIS Partners. In total, there were 427 announced insurance agency/brokerage mergers and acquisitions in the first half […]
By Jason Contant | July 19, 2022
3 min read
At least one insurer has taken Alberta up on its newly legislated option to domicile captive insurance companies in the province. The Captive Insurance Companies Act in Alberta, formerly Bill 76, came into force July 1. NFP this week announced it has established, and will administer, the NFP Captive Management (Alberta) Corp. and augment its […]
By Phil | July 18, 2022
2 min read
In an age of non-stop brokerage-to-brokerage M&A, Arthur J. Gallagher & Co. has taken a different approach with its latest acquisition. Rolling Meadows, Ill.-based Gallagher today announced acquisition of Toronto-based Four Corners Group Inc., an executive search firm operating throughout Canada and the U.S. Founded in 2007, Four Corners Group serves clients in diverse industries, […]
By Jason Contant | July 18, 2022
2 min read
OTTAWA – Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further. The consumer price index in Canada hit a nearly 40-year high of 7.7 per cent in May. Now, economists are forecasting that number hit at least eight per cent last […]
By Jason Contant | July 18, 2022
4 min read
Economic slowdown and high inflation will weigh down insurance market growth in 2022-23, primarily affecting property and auto insurers; still, rising interest rates may actually be a silver lining for insurers, Swiss Re Institute’s latest sigma report notes. Swiss Re predicts inflationary recessions in many major economies over the next 12-18 months, but central […]
By Alyssa DiSabatino | July 15, 2022
2 min read
BrokerLink is continuing its expansion into Alberta, Ontario and Atlantic Canada with the acquisition of three more brokerages over the past couple months. A subsidiary of Intact Financial Corporation, BrokerLink closed the acquisition of New Brunswick-based McTague Insurance on June 1. One month later, it closed the acquisitions of Ontario-based DPM Insurance Group and Alberta-based […]
By Jason Contant | July 15, 2022
2 min read
LYTTON, B.C. – A wildfire blazing just west of Lytton, B.C., has now scorched five square kilometres of trees and bush, more than doubling in size in less than 12 hours. BC Wildfire Service spokeswoman Taylor Colman says the out-of-control fire is burning vigorously and is being fuelled by gusty winds just under two kilometres […]
By Jason Contant | July 15, 2022
2 min read
Insurance Bureau of Canada (IBC) is expressing “serious concern” after Mississauga, Ont.’s city council approved an 87.5% increase to towing fees for consumers who need a tow to a Collision Reporting Centre (CRC). The City of Mississauga defended the increase from $400 to $750, citing economic factors and hardships facing the towing industry. It also […]
By Jason Contant | July 14, 2022
4 min read
WHITEHORSE – Several parts of Northern Canada are enveloped in smoke from wildfires along with unusually high seasonal temperatures. Yukon has seen a huge leap in the number of blazes with just over 846 square kilometres of land scorched this year, while heat warnings and air quality statements are in effect in the Northwest Territories […]
By Jason Contant | July 14, 2022
2 min read
PartnerRe Ltd. made a few executive-level shuffles Wednesday, marking the close of a December 2021 deal in which Covéa agreed to buy Partner Re from Exor for $9 billion in cash. Thierry Derez, CEO of Covéa Group, is replacing Brian Dowd as chairman of PartnerRe board. Dowd will remain on the board as an independent […]
By David Gambrill | July 13, 2022
2 min read