Large brokerage WTW has appointed Despina Buganski as head of personal lines for its Corporate Risk & Broking division for North America (CRB NA). Effective immediately, both WTW’s Canadian and U.S. personal lines teams will report directly to Buganski, the brokerage said Tuesday in a press release. In turn, Buganski will report directly to Ionel […]
By Jason Contant | January 10, 2024
2 min read
Employees deem leaders who psychologically detach from work when they aren’t in the workplace as more powerful and engaged in the office, new research shows. “We found that when leaders psychologically detached from work when at home – they did not actively think about work-related issues, but instead engaged in activities that allowed them to […]
By David Gambrill | January 5, 2024
3 min read
Intact Financial Corporation (IFC) has appointed Anne Fortin as president of Intact Insurance, effective Jan. 1, 2024. In her new role, Fortin will have responsibility for the Quebec, West, Ontario and Atlantic divisions of Intact Insurance, the insurer said in a press release Thursday. She will report Louis Gagnon, CEO of Canada for IFC. “I […]
By Jason Contant | December 15, 2023
2 min read
Montreal-based managing general agency REVAU Advanced Underwriting Inc. has acquired Echelon Insurance’s surety division. “This acquisition aligns with REVAU’s focus on expanding its existing surety operations across Canada,” the MGA said in a press release Monday. “The teams’ shared values, goals and focus on customer service make this a strong strategic fit for us.” Echelon’s […]
By Jason Contant | December 11, 2023
2 min read
Private equity firm Southampton Financial Inc. has announced its acquisition of Ontario-based digital insurance brokerage aha insurance. Launched in 2017, Waterloo, Ont.-based aha insurance offers consumers the ability to quote, purchase and manage car and home insurance policies entirely online. The brokerage serves customers in Ontario, Alberta and British Columbia, also offering business, trailer, pet […]
By Jason Contant | December 8, 2023
2 min read
Canadian risk managers earned a median annual base salary of $122,000, according to a recent Risk Management Society (RIMS) survey. This accounts for a 1.6% increase from $120,000 in 2021, when RIMS last conducted this survey. However, the salary for Canadian risk management (RM) professionals varies by gender, position and education, RIMS acknowledged. The RIMS […]
By Alyssa DiSabatino | December 7, 2023
3 min read
New York-headquartered insurance services provider Amynta Group has entered into a definitive agreement to acquire specialty insurance managing general underwriter (MGU) Sutton Special Risk Inc. “The acquisition of Sutton expands Amynta’s offerings in the accident and health market and accelerates growth plans in the Canadian marketplace,” Amynta Group said in a press release Wednesday. Its […]
By Jason Contant | December 6, 2023
2 min read
It’s no longer sufficient for insurance industry board members to talk about diversity across the organization — boards need to actively look at their own diversity and address any gaps, KPMG suggested in a recent thought leadership piece. “To build a culture of success, boards need to recognize biases and tackle them head on,” KPMG […]
By Jason Contant | December 5, 2023
3 min read
Canadian P&C insurance industry companies may want to consider leveraging existing consumer advertising tactics, including social media channels like TikTok, and apply them to recruitment efforts. It’s no secret the industry continues to face a ‘war for talent,’ particularly as more Baby Boomers retire. As well, the growing challenge of labour shortages in various industries […]
By Jason Contant | December 4, 2023
3 min read
Private equity interest in the Canadian P&C brokerage space is showing no sign of slowing down, industry observers said last week at KPMG’s 2023 Insurance Conference in Toronto. Private equity groups remain eager to acquire Canadian brokerages, said Andrew Mathias, senior vice president of corporate finance of KPMG in Canada. “There’s these gems that are […]
By Jason Contant | November 21, 2023
3 min read