OPTIS reveals that an all-time high of 107
deals involving North American agencies were announced in Q1. Many
transactions are unreported, meaning that there were likely even
This comes on the heels of OPTIS' findings that 2015 was a record
year for North American M&A, with 451 transactions.
The majority of transactions were carried out
by private-equity backed brokers, which made 242 acquisitions in
2015 and 50 in Q1 of this year. OPTIS reported that insurance
brokerages have proven to be a vehicle that can meet investors'
demands even in times of economic uncertainty and stock market
The majority of the acquisitions in Q1 of this
year involved U.S. and Canadian agencies selling primarily property
and casualty insurance, with 63 transactions of this type
announced. There were 10 announced transactions of agencies selling
employee benefits, and 21 transactions involving providers of mixed
services. This is consistent with last year's deals, where
agencies focused on property and casualty insurance made up 57% of
This is good news for Canada, where the
Insurance Bureau of Canada reported last year that the property and
casualty insurance industry employed 118,800 Canadians as of 2013
and has $106.6 billion in invested assets. Continued interest and
investment in property and casualty agencies will benefit Canadian
The author would like to thank Jacqueline Byers, articling
student, for her assistance in preparing this legal
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Under the Income Tax Act, the Employment Insurance Act, and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions or GST.
Under the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan Act and the Excise Tax Act, a director of a corporation is jointly and severally liable for a corporation's failure to deduct and remit source deductions.
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