Real estate pundits, including panellists at a Columbia University School of Business discussion early this year, are sounding the alarm about North America’s downtown cores. They’re predicting employees will shun return-to-office mandates, sparking tenancy death spirals for commercial lessors that crash asset values. So far, though, data from real estate analyst CBRE Canada sees only […]
By Phil | December 13, 2023
3 min read
Accurate valuation and occupancy data points remain top challenges for commercial broker submissions, according to Greg McCutcheon, president of Canada’s largest property data provider, Opta Information Intelligence. In this inflationary environment, keeping up with valuations and ensuring commercial property brokers have the proper data to fill out a valuation tool is critical, he told Canadian […]
By Jason Contant | December 12, 2023
3 min read
Global commercial brokerage Hub International announced the acquisitions of two Alberta benefits firms this week. Hub, based in Illinois, has acquired JRP Financial Services, Inc., as well as the shares of The Musgrave Group. Terms of the transactions were not disclosed. “Our strategy with these two acquisitions is to continue to build and add […]
By Alyssa DiSabatino | December 12, 2023
1 min read
Two Quebec brokerages will be merging to create the “second largest player” in personal and commercial insurance brokering in the province, the companies announced Thursday. PMT ROY Assurances et services financiers announced its merger with PMA Assurances. The deal will be effective Jan. 1, 2024, if the conditions are met. Based in the Capitale-Nationale […]
By Alyssa DiSabatino | December 8, 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
Underwriters can use generative AI to help speed up their turnaround times with their broker partners, says an insuretech executive. Underwriters can use insurtech platforms, or generative AI tools like Chat GPT, to input their submissions, along with a set of rules for prioritization, and have their AI do the sorting, Adam Cherubini, chief […]
By Alyssa DiSabatino | December 4, 2023
2 min read
How can consolidators afford to buy brokerages when interest rates on bank loans to finance deals have steeply increased? Firms that are actively engaged in brokerage buying and selling told CU they have become more selective. “We are getting a bit more particular around, ‘Is this the right partner?’” said Shawn DeSantis, president and CEO […]
By Phil | December 1, 2023
3 min read
Selectpath Insurance, a Navacord brokerage, has partnered with Myers Insurance to enlarge the southwestern Ontario presence of each brokerage. Headquartered in Wallaceburg, Ont., and with an office in Corunna, Myers Insurance is a second-generation multi-lines brokerage run by president Jim Myers. The business started with Myers’ father in 1944. Myers Insurance offers a wide variety […]
By David Gambrill | November 28, 2023
2 min read
Aviva Canada is acquiring Optiom O2 Holdings Inc., a managing general agent (MGA) that specializes in vehicle replacement insurance in Canada. The $170-million Cdn deal is subject to regulatory approval and is expected to close in the first quarter of 2024. Aviva Canada says the deal will expand its capital light businesses, which make up […]
By David Gambrill | November 27, 2023
2 min read
Don Thompson has been appointed Westland Insurance Group’s new chief operating officer (COO), the brokerage announced. Thompson will assume the role effective January 1, 2024. He has over 30 years of experience in the P&C insurance industry and is currently Westland’s executive vice president, insurance and prairie operations. Prior to his role at Westland, […]
By Alyssa DiSabatino | November 27, 2023
1 min read