Operations
NFP Corp. has concentrated almost exclusively in Ontario since it first entered into the Canadian property and casualty insurance space about two years ago, but expect that to change in the future. NFP is looking to have “a bigger presence out west, a good presence in Quebec and to move out to the east coast […]
By Jason Contant | January 10, 2020
2 min read
NFP Corp. has been busy in the approximately two years since the U.S.-based brokerage acquired Dalton Timmis Insurance Group in 2017, its first Canadian P&C acquisition. Since that time, it has acquired a number of Canadian brokerages, including Mass Insurance Brokers Limited and Easyway Insurance Brokers Inc. (collectively known as Mass) in December 2018, PBL […]
By Jason Contant | January 9, 2020
3 min read
Another day, another acquisition. McDougall Insurance and Financial has merged with Provenance Insurance Services Ltd., which operates as Knox Hutchison Insurance Services (North Bay), Municipal Insurance Services (North Bay) and Dynamic Insurance Brokers (Sudbury). Provenance will join with McDougall to form an independent broker with 36 offices in Ontario, more than 400 employees, and more […]
By Jason Contant | January 8, 2020
“The market for P&C brokerages and books of business is strong and will likely continue to be robust in the foreseeable future,” Mike Berris, partner and practice group leader with Smythe Advisory, predicted last August in the firm’s Property & Casualty Insurance Brokerage Report 2019. Just one week into 2020, it looks like that sentiment […]
By Jason Contant | January 7, 2020
Despite signs of hardening in certain reinsurance markets, and certainly in the primary market, general third-party liability treaties represents a silver lining in the cloud. “Many general third-party liability treaties are ancillary to traditional property treaties and have generally remained profitable for (re)insurers,” reinsurance broker Willis Re wrote in the Canadian casualty commentary section of […]
By Jason Contant | January 6, 2020
NFP, an insurance brokerage and consultant that provides property and casualty, employee benefits, retirement and individual solutions, recently announced leadership changes throughout Canada to support its rapid growth in the region. NFP has grown its Canadian team to 750 employees since entering the market in 2008, generating more than $140 million of revenue annually. It […]
Legal / Regulation
Brokers with cannabis clients need to keep an eye on the changing legal landscape and cannabis companies’ evolving needs, paying particular attention to directors’ and officers’ liability, a managing general agency told Canadian Underwriter recently. Recreational cannabis became legal in October 2018. This past October, products like edibles and cannabis-infused beverages were legalized, meaning brokers […]
By Jason Contant | January 3, 2020
Archway Insurance rang in the new year by announcing two new locations in southwestern New Brunswick following the acquisition of Groom Insurance Limited, effective Jan. 1, 2020. The latest addition brings the number of Archway locations to 32, with approximately 75,000 clients and $150 million in premium volume, the brokerage said in a press release […]
By Jason Contant | January 2, 2020
Rowan Saunders, President, CEO, Economical Insurance Insurers across Canada are exploring new ways to embrace digital and improve customer experience in the middle of a hard market. This necessary transformation is the most important issue we face. Within the context of an accelerated pace of change, Economical is focused on building an industry-leading and highly […]
December 27, 2019
Martin Thompson, President, CEO, RSA Canada Disciplined underwriting is the anchor that the P&C industry needs right now. The insurance industry is currently experiencing some pain. Investment returns have been following a general downtrend over the last two decades, from a high of 10.4% in 1997, down to 7.3% in 1999 and a dismal 2% […]
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