The beginning of 2023 saw a slowdown in mergers and acquisitions (M&A) activity in Canada’s P&C brokerage space as brokers’ interest in deal-making appeared to decline. At the time, the inflationary environment and higher cost of capital to make deals were mentioned as contributing factors. But by mid-2023, M&A activity picked up again, and it’s […]
By Jason Contant | September 26, 2024
3 min read
With current brokerage valuation multiples sometimes as high as 15 to 20 times EBITDA (earnings before interest, taxes, depreciation and amortization), buying a business is challenging for anyone without access to significant capital. So, how do brokerages finance their deals? “Aside from borrowing from banks, raising capital from insurers or private equity (PE) still continues […]
By Jason Contant | September 25, 2024
3 min read
Aviva Canada is warning consumers to beware of an Alberta-based ghost broker that’s claiming to be affiliated with Aviva, but is instead selling fake insurance policies. “It has come to our attention that Canadians are being scammed by representatives of a company known as AllcoveredbyAviva or Allcoveredbrokers, operating out of Alberta,” says Jamie Lee, head of financial crime […]
By Alyssa DiSabatino | September 17, 2024
2 min read
RIMS has partnered with Brokerslink, a global broker network, to offer its risk management certification to its affiliate members. The partnership aims to establish a global standard for risk management knowledge. As Steve Pottle, director of risk management at Thompson Rivers University puts it, the certificate program will provide affiliate brokers with a baseline for risk […]
By Alyssa DiSabatino | September 16, 2024
3 min read
AMC Insurance Services Ltd., based in Surry, B.C., announced it has acquired Western Associated Insurance Brokers Ltd. Acquisition of the Vancouver-based brokerage brings “a strong clientele and deep-rooted community connections” into the AMC fold, the firm says in a press release. Western Associated Insurance Brokers is a family owned and operated brokerage with more than […]
By Alyssa DiSabatino | September 12, 2024
1 min read
Clear market demand was behind U.S. carrier PURE Insurance’s entry into the Canadian affluent homeowners’ insurance market and plans to enter the auto insurance space next year, the head of the insurer’s Canadian branch told Canadian Underwriter in an interview Tuesday. “From a broker perspective, what we hear from our brokers is there’s definitely a […]
By Jason Contant | September 11, 2024
3 min read
International brokerage Hub has acquired Quebec-based Felton et Associes Assurances Inc., its fifth Canadian deal of the year. Hub says the acquisition will support its specialty practices by “complementing and strengthening its existing capabilities.” Located in Brossard, Que., Felton et Associes is a P&C brokerage covering commercial and personal insurance. They specialize in construction, real […]
By Alyssa DiSabatino | September 10, 2024
1 min read
McFarlan Rowlands Insurance Brokers Inc., a division of McDougall Insurance Brokers Ltd., has announced a merger with Excalibur Insurance Group Inc., with offices across western Ontario. “We are excited to welcome the team and clients of Excalibur Insurance to the McDougall family,” said Ross McDougall, CEO and board chairman of McDougall Insurance Brokers. “We’ve always […]
By David Gambrill | September 5, 2024
2 min read
Acera Insurance Services Ltd. has announced its fifth M&A deal in Ontario this year with the addition of its newest partner, Pacific Insurance Broker Inc. of Richmond Hill. The fifth partnership deal in Ontario in 2024 marks Acera’s continued expansion in the Greater Toronto Area (GTA), where it has offices in Aurora, Brampton, Burlington and […]
By Jason Contant | August 29, 2024
2 min read
One way independent brokerages can gain scale is by leveraging large amounts of data. That’s the approach behind Canadian Broker Network (CBN)’s data warehouse, which, using Microsoft Power BI, pulls anonymized data from its 30 broker members, maps them to a data standard, and then creates quarterly individualized reports. “We’ve had some smaller boutique members […]
By Alyssa DiSabatino | August 28, 2024
3 min read