International brokerage Hub has acquired Quebec-based Felton et Associes Assurances Inc., its fifth Canadian deal of the year. Hub says the acquisition will support its specialty practices by “complementing and strengthening its existing capabilities.” Located in Brossard, Que., Felton et Associes is a P&C brokerage covering commercial and personal insurance. They specialize in construction, real […]
By Alyssa DiSabatino | September 10, 2024
1 min read
Senior company leaders are cyber criminals’ latest targets, finds a new report. A full 65% of Canadian senior executives have been the target of at least one cyberattack in the last 18 months, according to the report by business software recommendation engine GetApp. And the news goes from bad to worse: 43% of Canadian […]
By Alyssa DiSabatino | September 6, 2024
2 min read
QBE Canada has appointed Caroline Fenn to a newly created role of multinational underwriting manager, reflecting its desire to attract clients needing multinational insurance placement solutions, the company announced Thursday. QBE Insurance Group is a global international insurer and reinsurer that operates under a Lloyd’s underwriting licence and does business exclusively through partnerships with insurance […]
By Jason Contant | September 5, 2024
1 min read
McFarlan Rowlands Insurance Brokers Inc., a division of McDougall Insurance Brokers Ltd., has announced a merger with Excalibur Insurance Group Inc., with offices across western Ontario. “We are excited to welcome the team and clients of Excalibur Insurance to the McDougall family,” said Ross McDougall, CEO and board chairman of McDougall Insurance Brokers. “We’ve always […]
By David Gambrill | September 5, 2024
2 min read
Global insurtech funding rose 39.7% quarter-on-quarter, a new report shows. The upward swing is attributable to a near doubling of average deal sizes, finds Gallagher Re’s Global InsurTech Report Q2 2024. Specifically, funding to property and casualty (P&C) insurtechs grew 41.0%. Yet, global insurtech deals tallied 82 in Q2 of 2024 — the lowest quarterly […]
By Alyssa DiSabatino | September 4, 2024
2 min read
Acera Insurance Services Ltd. has announced its fifth M&A deal in Ontario this year with the addition of its newest partner, Pacific Insurance Broker Inc. of Richmond Hill. The fifth partnership deal in Ontario in 2024 marks Acera’s continued expansion in the Greater Toronto Area (GTA), where it has offices in Aurora, Brampton, Burlington and […]
By Jason Contant | August 29, 2024
2 min read
One way independent brokerages can gain scale is by leveraging large amounts of data. That’s the approach behind Canadian Broker Network (CBN)’s data warehouse, which, using Microsoft Power BI, pulls anonymized data from its 30 broker members, maps them to a data standard, and then creates quarterly individualized reports. “We’ve had some smaller boutique members […]
By Alyssa DiSabatino | August 28, 2024
3 min read
Despite Canada-wide disruption from shuttered rail lines, the rail lockout will have no direct impact on the P&C insurance industry, experts tell Canadian Underwriter. “Strikes, lockouts, etc., are all excluded from property and business interruption (BI) policies,” says Bernard McNulty, chief agent and head of claims for Canada at Allianz Commercial. “And because the direct […]
By Jason Contant | August 23, 2024
3 min read
Canada’s solvency regulator released the final version of its Guideline E-21: Operational Risk Management and Resilience today, calling for the new expectations in the guideline to be implemented in two phases over 2025 and 2026. Although the Office of the Superintendent of Financial Institutions (OSFI) has restructured the guideline to include simple language and clear […]
By David Gambrill | August 22, 2024
3 min read
Équité Association has announced the appointment of two senior leaders to its board of directors. Joining the board are Promutuel Assurance CEO Geneviève Fortier and Suzanne Courtlander, Gore Mutal Insurance’s senior vice president of claims, Équité said in a press release Thursday. Fortier has held senior executive positions in the industry over the years, mostly […]
By Jason Contant | August 20, 2024
2 min read