Ten major acquisitions made in 2018

The Insurance Journal looks back at 10 major transactions that occurred over the last 12 months.


iA acquires an MGA

iA Financial Group acquired PPI Management, one of the largest managing general agencies supporting independent advisors in Canada. iA stated it is committed to preserving the independence of PPI as a marketing organization representing and promoting the products of all major Canadian insurers.

To learn more:

iA Financial Group acquires PPI


Knowledge First Financial becomes the largest RESP provider in Canada

Knowledge First Financial announced Jan. 3 that it acquired Heritage Education Funds. The deal created the largest RESP provider in Canada with approximately $6.2 billion in assets under management.

To learn more:

Knowledge First Financial to acquire Heritage Education Funds


An American company acquired an Ottawa-based group benefits broker

NFP, a U.S. insurance broker, announced Feb. 5 its acquisition of Ottawa-based Capital Benefit Financial Group. The transaction closed on Dec. 14, 2017.

To learn more:

NFP acquires Capital Benefit Financial Group


An MGA acquires another MGA

Managing General Agency Financial Horizons Group acquired ABEX Central Financial Services, an MGA based in Barrie, Ontario. In an announcement issued Feb. 1, John Hamilton, founder and CEO of Financial Horizons, stated that the acquisition is “another step in the strategic growth” of the company. “

To learn more:

Financial Horizons buys ABEX


Equisoft buys a digital provider

Equisoft, a provider of digital business solutions for the insurance and wealth industries, announced April 11 its acquisition of Kronos Technologies, a company that develops web and mobile applications for the investment and insurance sectors.

To learn more:

Equisoft acquires Kronos Technologies


The APRIL group enters the benefits market

The APRIL group announced April 23 its acquisition of Benecaid, a Toronto-based managing general underwriter and third party administrator specializing in group health insurance for SMEs.

To learn more:

APRIL group acquires Benecaid


Scotiabank acquired a leading independent investment firm

Scotiabank announced May 1 the completion of its acquisition of Jarislowsky, Fraser Limited, a leading independent investment firm.

Jarislowsky Fraser brought approximately $40 billion in assets under management to Scotiabank’s Canadian Asset Management business.

To learn more:

Scotiabank announces completion of Jarislowsky Fraser acquisition


Dialogue expanded its virtual healthcare platform

Dialogue Technologies, a virtual healthcare platform, acquired DXA, a company that has developed an AI-driven medical technology platform. In a Nov. 9 announcement, Dialogue stated that the acquisition will enable it to improve the efficiency of its services and explore partnership opportunities with healthcare providers and insurers.

To learn more:

Dialogue Technologies acquires DXA


CI Financial acquires digital advice platform

CI Financial Corp. announced Dec. 14 that it has acquired a majority stake in WealthBar, an online wealth management and financial planning platform. The aim of this acquisition is to accelerate the development of CI’s digital strategy,

To learn more:

CI Financial acquires Wealthbar


Hub pursues its acquisition strategy

Hub International made more than 20 acquisitions in Canada during 2018. Hub completed a total of 50 acquisitions internationally. Many of the Canadian acquisitions were in the employee benefits space. During the year, the company announced its corporate strategy “to aggressively assemble best-in-class capabilities and entrepreneurial talent across Canada to develop a complete employee benefits solution.”

 

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