Rising interest rates are changing the brokerage M&A environment and giving sellers a shorter timeline to produce the projected earnings. And chances are, if they haven’t produced reliable returns already, the buyers may balk on a purchase, said Yan Charbonneau, president of Synex Performance d’affaires, a brokerage consolidator based in Quebec. “In the crazy [low-interest] […]
By Phil | November 24, 2023
4 min read
McDougall Insurance Brokers Limited announced it has merged with Ontario-based M.B. Kouri Insurance Brokers Ltd. The brokerage will join operations with McDougall’s insurance and finance team to operate as an independent brokerage, McDougall announced in a press release. McDougall has 66 offices in Ontario and Alberta, 850 employees and over $900 million in property casualty […]
By Alyssa DiSabatino | November 24, 2023
1 min read
Ontario brokers are questioning the value of the Ontario government’s forthcoming new law allowing drivers to drop out of direct compensation property damage (DCPD) coverage for their cars. DCPD coverage is currently mandatory and protects policyholders in the event of a collision in which another driver is at fault. By opting out of DCPD coverage, […]
By David Gambrill | November 23, 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
Reports of the death of brokerage mergers and acquisitions in an era of higher interest rates have been greatly exaggerated. Back in early 2023, Canadian Underwriter’s National Broker Survey noticed a curious phenomenon: brokers’ interest in M&A growth had dipped despite a busy year of deals in 2022. In a survey of 150 brokers across […]
By Phil | November 20, 2023
3 min read
Marsh McLennan has appointed Susan Potter as U.S. and Canada commercial officer, effective immediately. “We are fortunate to have Susan assume this new role,” Pat Tomlinson, Marsh McLennan’s U.S. and Canada CEO, said of Potter’s appointment. “Her exceptional leadership experience, combined with her deep knowledge of Marsh and Mercer’s comprehensive suite of solutions and capabilities, […]
By David Gambrill | November 16, 2023
2 min read
Thea Baird, CIP, CAIB, this year’s winner in the Emerging Leaders category of the Insurance Institute of Canada’s 2023 National Leadership Awards has a history of going the extra mile. “You can message me at three o’clock in the morning and I probably would respond,” the St. John’s, NL-based vice president and broking training manager […]
By Phil | November 15, 2023
3 min read
New leads are crucial for any brokerage’s growth and continued business success. Although that’s a no-brainer, here’s something to remember when it comes to converting those leads into clients: there’s no such thing as good risks and bad risks. The idea of a bad risk is a misnomer that can impact how you approach the […]
By Phil | November 14, 2023
3 min read
BrokerLink has expanded its well-established footprint in the Greater Toronto Area with the acquisition of brokerages All-Risks Insurance (Burlington), Dowhaniuk Insurance and Heinsoo Insurance. BrokerLink announced Monday it completed the asset acquisition of Solutions Financial PCC Inc., operating as All-Risks Burlington on Oct. 1. Effective Nov. 1, it also acquired the shares of Hamilton, Ont.-based […]
By Jason Contant | November 13, 2023
2 min read
Westland Insurance announced its partnership with employee benefits and retirement solutions provider Prime Benefits Group Inc. Westland said the deal is part of its strategy to enhance its group benefits portfolio and strengthen its position in the Canadian market. Based in Ottawa, Prime Benefits Group offers employee benefits and retirement solutions, and international travel and […]
By Alyssa DiSabatino | November 10, 2023
2 min read