Ten major acquisitions made in 2019
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.
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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.
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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.
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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.
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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.
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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.
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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.
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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).
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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.
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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.
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Hub acquires W. R. Carey Corporation
Hub International acquires Firstbrook Pointon Benefits
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
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