Anthony Clark adds another U.S. brokerage

Calgary-based broker consolidator Anthony Clark International Insurance Brokers Ltd. (ACL) has purchased the assets of Illinois-based Schuneman Insurance Agency Inc.ACL’s U.S. subsidiary Addison York Insurance Brokers Ltd. paid $1.61 million for the Schuneman operation, financed via an existing credit facility. ACL says it expects the acquisition to add 5% to annual revenues. This is the […]

By Canadian Underwriter | January 12, 2005 | Last updated on October 2, 2024
1 min read

Calgary-based broker consolidator Anthony Clark International Insurance Brokers Ltd. (ACL) has purchased the assets of Illinois-based Schuneman Insurance Agency Inc.ACL’s U.S. subsidiary Addison York Insurance Brokers Ltd. paid $1.61 million for the Schuneman operation, financed via an existing credit facility. ACL says it expects the acquisition to add 5% to annual revenues. This is the fourth U.S. brokerage purchased by ACL, and its twenty-third acquisition overall. Schuneman, a general insurance brokerage, will continue to be run by current management, ACL says.

Canadian Underwriter

How brokerages can raise capital for M&A

Operations

How brokerages can raise capital for M&A

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

Brokerage executives share M&A strategies

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Brokerage executives share M&A strategies

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

Getting ghosted: Aviva warns of scam brokers selling fake insurance

Operations

Getting ghosted: Aviva warns of scam brokers selling fake insurance

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