One brokerage’s sales increased by 12% in six months after the company president shared sales numbers with the broker team for the first time. That data transparency changed the trajectory of his fifth-generation brokerage, Zac Sutherland, president of Sutherland Insurance, shared with attendees at the Young Brokers Conference in Niagara Falls earlier this month. “This […]
By Alyssa DiSabatino | June 21, 2024
2 min read
Collectivfide Insurance Group Inc. announced Monday it has entered into a partnership stake with Utter/Morris Insurance Brokers Limited, the 12th brokerage deal since the group’s 2019 inception. Collectivfide’s shareholders represent mutual insurance companies throughout Ontario and Canada. The latest broker partner in the Collectivfide network marks the second addition of 2024, following the acquisition with […]
By Jason Contant | June 18, 2024
2 min read
Brokerage growth through acquisition in Canada proceeded at a torrid pace this past week. Large Canadian brokerages Westland Insurance Group and Acera Insurance Services Ltd. each announced new deals, while Navacord Inc. expanded two of its specialty brokerages in Canada’s capital region: Westland says its deal marks another milestone in the brokerage’s ongoing expansion efforts […]
By Jason Contant | June 14, 2024
3 min read
A steady stream of high-profile companies, including Google, IBM, Amazon and Farmers Insurance in the United States, have required employees to return to their offices (RTO). Canada’s P&C insurance industry is no exception. “While their messaging about these RTO mandates has ranged in form and tone, much of it has felt tone-deaf at best and […]
By Jason Contant | June 13, 2024
3 min read
BrokerLink has completed its largest Ontario deal to date and entered into Manitoba and Saskatchewan with the acquisition of The Standard Insurance Brokers Ltd. In other M&A news, Acera Insurance, StoneRidge Insurance and McDougall Insurance also recently announced brokerage deals. BrokerLink’s newest partnership “expands BrokerLink’s services throughout Northern Ontario and introduces the brokerage to thousands […]
By Jason Contant | June 7, 2024
3 min read
Western Financial Group is looking at expanding in urban centres and across various product lines, such as commercial, farm and employee benefits, brokerage president and CEO Kenny Nicholls tells Canadian Underwriter. “We have a strong representation in all lines, it’s just a question of us wanting to define more volume in them,” Nicholls says. “Given […]
By Jason Contant | May 29, 2024
3 min read
Gallagher Global Brokerage – Canada CEO Dave Partington has taken on the additional responsibility of leading the Gallagher businesses in Latin America and the Caribbean, the brokerage tells Canadian Underwriter. Partington will continue to lead all three regions, with the implementation of several new leadership changes for Canada effective July 1. The additional roles for […]
By Jason Contant | May 28, 2024
3 min read
A large majority (81%) of brokers believe it’s a myth that there’s a lack of diverse talent available to hire or promote. Yet, when asked about key hiring challenges facing their organizations, lack of skilled diverse talent tops the list, according to Canadian Underwriter’s 2024 Brokerage DEI survey. According to 291 broker respondents, the top […]
By Alyssa DiSabatino | April 29, 2024
3 min read
Could virtual reality mentors help train recruits in the property and casualty insurance industry? It may sound futuristic, but early iterations of virtual reality and AI-based learning are already being used to help onboard new hires in the industry, panellists observed Wednesday at Canadian Underwriter’s webinar, The Loyalty Advantage. Virtual reality training aids are already […]
By David Gambrill | April 25, 2024
3 min read
While a new key performance indicator (KPI) under IFRS 17 was intended to replicate the well-known combined ratio, this equivalence might not hold true in practice when all components and complexities of a real profit and loss statement (P&L) are included, MSA Research warns in a new report. The report looked at the net combined […]
By Jason Contant | April 24, 2024
4 min read