Editor’s Note: This article has been corrected to note Ai Insurance Organization’s London, Ont., office still exists and was not included as part of Hub’s acquisition, as an initial version of this article stated. Also, to clarify, Royston Fernandes is an owner and managing partner in Ai Insurance Organization’s London, Ont., office. He is not […]
By David Gambrill | July 23, 2024
2 min read
The ability to have unique, cutting-edge, customizable broker software was one of the key reasons behind virtual brokerage Cheep Insurance’s decision to partner with Southampton Financial, the brokerage’s president tells Canadian Underwriter. On July 2, insurance investment group Southampton Financial announced its equity partnership with WebBroker Canada Inc., the driving force behind Cheep Insurance. The […]
By Jason Contant | July 18, 2024
2 min read
When it comes to pricing an insurance brokerage for sale, business continuity and the firm’s ability to retain key producers are both critical factors. “For sellers that are further away from retirement age and who are the key producer, there is an expectation of a significant equity roll and market compensation,” said a recent report […]
By Phil | July 15, 2024
2 min read
Large independent brokerage Acera Insurance Services Ltd. has officially expanded nationwide with its first location in Atlantic Canada. Acera Insurance announced its acquisition of Nova Scotia-based Jacobi Brien Insurance last Thursday. “This deal marks Acera Insurance’s first location in Atlantic Canada, officially expanding the independent brokerage’s footprint from coast to coast to coast,” Acera said […]
By Jason Contant | July 15, 2024
2 min read
The insurance brokerage market saw 48 deals in the first half of 2024, and with six months left to go, experts predict this year could become another exceptional year. The total counts all publicly announced deals across P&C and life and health brokerages, according to M&A advisory firm Smythe LLP. And the firm expects this […]
By Alyssa DiSabatino | July 12, 2024
2 min read
Western Financial Group CEO Kenny Nicholls has announced he will retire at the end of the year after 30 years in the financial services industry. The brokerage’s chief growth officer, Grant Ostir, will become the new CEO on Jan. 1, 2025, Western Financial said in a press release Thursday. Nicholls has been with Western for […]
By Jason Contant | July 12, 2024
2 min read
Collectivfide Insurance Group closed its third acquisition of the year after completing a deal with Claremont Mississauga Insurance Brokers Inc. Claremont Insurance is a full-service brokerage offering home, auto and commercial insurance to clients in the greater Toronto area. Upon making the decision to retire, brokerage owner Frank Claremont sold his business to Collectivfide after […]
By Alyssa DiSabatino | July 11, 2024
1 min read
Less than a week after it announced the acquisition of two Canadian P&C brokerages, Westland Insurance continues its M&A spree with a deal involving Alberta Best Insurance Ltd. Westland’s acquisition of the well-established P&C brokerage became effective July 2. With locations in Beaumont and Leduc, Alta., Alberta Best Insurance has been offering insurance for more […]
By Jason Contant | July 9, 2024
2 min read
One of Canada’s largest wealth managers has invested $10 million in online used vehicle reseller Clutch Technologies. Quebec based iA Financial Group said last week it entered into the partnership with an eye toward expanding sales of its extended warranty and related guaranteed asset protection (GAP) products. “This investment enables iA Financial Group to develop […]
By Phil | July 8, 2024
2 min read
Insurance investment group Southampton Financial has partnered with the driving force behind brokerage Cheep Insurance, a deal designed to provide the brokerage with cutting-edge digital technologies. Southampton Financial announced its equity partnership with WebBroker Canada Inc. on Tuesday. The deal adds to the firm’s other transactions involving Canadian P&C operations that offer digital car and […]
By Jason Contant | July 4, 2024
3 min read