MENU

Ten major acquisitions made in 2019

By The IJ Staff | December 16 2019 03:00PM

As 2019 comes to an end, the Insurance Portal is providing you with an update on the mergers and acquisitions that took place over the last year in the insurance and investment industries. Here are ten major transactions that marked the year 2019.

Foresters sells Foresters Life Insurance and Annuity Company 

Foresters Financial announced on Oct. 17 that it has entered into an agreement to sell Foresters Financial Holding Company, Inc. and its subsidiary Foresters Life Insurance and Annuity Company to Nassau Financial Group, L.P., a subsidiary of Nassau Life Insurance Company.

To learn more:

Foresters sells Foresters Life Insurance and Annuity Company

Empire Life acquires stake in Ontario MGA 

Empire Life announced on Nov. 8 that it is investing in The Gryphin Advantage Inc., a Managing General Agency based in Southwestern Ontario, as a minority shareholder.

To learn more:

Empire Life acquires stake in Ontario MGA

Intact acquires On Side Restoration 

Intact Financial Corporation announced on Aug. 6 that it has acquired On Side Restoration, a restoration firm based in Vancouver, British Columbia. Intact says the acquisition will deepen its claims expertise and strengthen its supply chain network.

To learn more:

Intact announces acquisition of On Side Restoration

Intact acquires The Guarantee and Frank Cowan Company

Intact Financial Corporation announced a few days after purchasing On Side Restoration that it acquired The Guarantee Company of North America and Frank Cowan Company Limited. The transaction, worth one billion Canadian dollars, was concluded on Dec. 2.

To learn more:

Intact to acquire The Guarantee and Frank Cowan Company

Equisoft acquires AGEman Solutions

Equisoft, a provider of digital business solutions for the insurance and wealth industries, announced on Feb. 7 that it has acquired AGEman Solutions, a Montreal-based digital provider. It is known for its agency management systems designed for the Canadian distribution market. 

To learn more:

Equisoft acquires AGEman Solutions

Scotia Life Insurance Company sells life insurance business to Chubb 

After having shed its group insurance activities early in 2019, Scotia Life sold its individual life insurance business to Chubb Life

“In particular Scotia Life proposes to transfer to Chubb Life the policy liabilities in respect of the individual Term 10, Term 20 and Term 100 contracts of life insurance and individual Guaranteed Life and individual Accidental Death insurance policies issued by Scotia Life,” the Canada Gazette stated in June.

To learn more:

Scotia Life Insurance Company sells life insurance business to Chubb

Foresters sells Canadian asset management business to Fiera Capital 

Foresters Financial announced May 15 that it has entered into a definitive agreement with Fiera Capital to sell the outstanding shares of Foresters' Canadian asset management business, Foresters Asset Management Inc., to Fiera.

To learn more:

Foresters to sell Canadian asset management business to Fiera Capital

Fiera Capital completes acquisition of Foresters Asset Management Inc

Financial Horizons Group acquires two MGAs 

Financial Horizons Group announced on Aug. 14 that it has acquired TORCE Financial Group Inc. and VANCE Financial Group Inc. Both companies are Managing General Agencies (MGA).

To learn more:

Financial Horizons Group acquires two firms

CI completes WealthBar acquisition 

CI Financial announced on Jan. 23 that it has completed its acquisition of a majority stake in WealthBar Financial Services Inc., an online wealth management and financial planning platform.

To learn more:

CI completes WealthBar acquisition

Hub keeps pace with 2018

Hub International announced in 2018 that it wants to reach the threshold of 100 million dollars in commission income in employee benefits by 2021. The company intends to achieve its objective by making acquisitions. Hub acquired many firms last year and continued on its acquisition path in 2019.

To learn more:

Hub acquires W. R. Carey Corporation

Hub International acquires Firstbrook Pointon Benefits

Hub International Limited has bought the assets of Vancouver-based TRG Group Benefits and Pensions Inc.

Hub International acquires Porchlight Financial

Hub acquires Cottenie and Gardner Inc.

Hub acquires Clarity Benefits Group

Hub acquires Berk Bilgen Insurance

Hub acquires BenefitLink Resource Group

Hub acquires GMS Insurance Inc.

Hub acquires Regency Advisory Corporation

Hub acquires ProCorp Financial Inc.

Hub acquires PDF Financial Group Inc

Hub International acquires RBI Advisory Group

Hub acquires Kelliher Agencies

Advertisement
Related to the same topic …
HUB