BrokerLink, a brokerage network owned by Intact Financial Corporation, announced in August that it closed nine acquisitions in 2020: three in Alberta, three in Ontario, two in Nova Scotia and one in New Brunswick.

The four most recent acquisitions all took place in Q3 2020, on July 1 to be exact, the company confirmed to the Insurance Portal.

4 acquisitions in July

On that date, Brokerlink bought out the Alberta firm Topley Sanders & Jepson General Insurance, known as TSJ Insurance, the Ontario firms Cambridge Insurance Brokers and CIB Financial Services, and New Brunswick-based Manuel Insurance.

  • TSJ Insurance, headquartered in Calgary, offers personal home, auto, commercial life and group insurance.

  • Cambridge Insurance, based in Cambridge Ontario, offers personal home, auto and life insurance.

  • CIB Financial, also in Cambridge, Ontario, offers life insurance and group benefits.

  • Manual Insurance is a bilingual (English and French) firm based in New Brunswick. It offers personal and commercial P&C insurance including marine and recreational options.

2 acquisitions in the second quarter

BrokerLink told the Insurance Portal that a fifth transaction was finalized on June 1: the acquisition of the Nova Scotia firm Anderson Brown Company Insurance & Realty, known as ABC Insurance. Based in the Halifax suburb of Dartmouth, the firm offers personal and commercial P&C insurance including marine and life insurance.

On April 1, BrokerLink announced that it bought out Rocky Mountain Agencies, a firm based in Banff, Alberta that offers P&C insurance to individuals and businesses.

3 acquisitions in the first quarter

BrokerLink concluded and announced the first three acquisitions in Q1. The Intact subsidiary acquired Nova Scotia-based Major Brothers, on February 1, and the Alberta and Ontario firms HDF Insurance Services and Impact Insurance Brokers, on March 1.

Strategic consolidation

BrokerLink says it plans to “look to the future to carry on with organic growth through acquisitions.” A strategy central to its business model for years.

In its 2019 annual report, Intact Financial Corporation mentions that BrokerLink acquired 23 brokerage firms in Canada in 2019, which represents “a new record.”

The Intact broker currently has over 140 branches and more than 2,000 employees.

In its 2019 annual report, Intact Financial Corporation boasts that it has $11 billion in annual direct premiums written, for Canadian and US operations combined. Of this amount, the group points out that 63%, or $6.93 billion, comes from Intact Assurance, and 15%, or $1.65 billion, from OneBeacon, and 14%, or $1.54 billion, from belairdirect. The remaining 8%, or $880 million, represent Intact insurance premiums sold by BrokerLink, the company explains.

Asked by the Insurance Portal about the total premium volume sold via the brokerage network for all insurers combined, BrokerLink did not reply by press time.