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
Westland Insurance continues to expand across Canada with its latest brokerage acquisitions in Alberta and Ontario. Westland announced Wednesday its acquisition of Excel Insurance Lloydminster and M. Butler Insurance in Ontario, effective June 24. “These acquisitions bring Westland into two new communities and represent Westland’s continued expansion across Canada,” the brokerage says in a press […]
By Jason Contant | July 3, 2024
2 min read
A trend whereby property and casualty (P&C) insurance brokerages acquire or partner with health insurance and investment product brokerages continues apace. Ancaster, Ont.-based StoneRidge Insurance Brokers (SIB) announced late last month it has partnered with All-Risks Insurance Brokers Ltd. All-Risks, based in Windsor, Ont., has operated for 70 years. It has 74 locations province-wide, offering […]
By Phil | July 2, 2024
2 min read
There’s a common perception in the Canadian property and casualty insurance industry that artificial intelligence (AI) will take your job rather than support it. But the opposite is true, as AI empowers talent transition in underwriting, says Pat Caldwell, chief people officer at insurtech Send. AI-driven large language models are changing how underwriters perform their […]
By Jason Contant | June 28, 2024
3 min read
A former broker must wait one year before he can re-apply for his licence, after B.C.’s broker regulator found he had cheated on his CAIB 2 broker licensing exam in March 2021. The CAIB 2 broker’s licence exam covers commercial lines, including property forms, underwriting, additional coverage, transportation, crime and business interruption. Insurance Council of […]
By David Gambrill | June 25, 2024
2 min read
When I was about 10 years old, our local Pizza Pizza sponsored my soccer team. Our team jerseys also happened to be neon orange that year. Whether that was a chance stroke of luck or some plotted branding scheme, I’ll never know. But years later, I still remember those jerseys. In fact, between myself […]
By Alyssa DiSabatino | June 24, 2024
2 min read
Half of the premium volume generated by Canadian brokers comes from commercial policies on average, say respondents to Canadian Underwriter’s 2024 National Broker Survey. As for brokerage size, firms with 20 or fewer employees say 33% of their total premium volume comes from commercial business, compared with 58% at brokerages with 20-to-99 employees and 61% […]
By Phil | June 21, 2024
2 min read