Hub International Acquires Alberta, Canada-Based Carlton Insurance Brokers Inc.

Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the shares of Carlton Insurance Brokers Inc. (C.I.B.). Terms of the acquisition were not disclosed.

Headquartered in Jasper, Alberta, C.I.B. offers personal and commercial insurance and specializes in solutions for the transportation industry. C.I.B’s focus on the transportation industry supports Hub’s recent launch of its Specialty practices by complementing and strengthening Hub’s existing solutions in Canada.

The C.I.B. team will join Hub Barton, and Tony Carlton, CEO of C.I.B., will report to Doug Lyall, VP of Sales, Hub Barton, and Elizabeth Fiegehen, VP of Operations, HUB Barton.

About Hub’s M&A Activities

Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.  For more information on the Hub M&A experience, visit WeAreHub.com.

About Hub International

Headquartered in Chicago, Illinois, Hub International Limited (Hub) is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. From offices located throughout North America, HUB’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit hubinternational.com.

May 1, 2018, Reminder – State Farm Canada becoming Desjardins Insurance

Tuesday, May 1, 2018, marks the official start of the State Farm Canada brand transition to Desjardins Insurance.

Over the next several months the State Farm brand and logo will gradually be replaced by the new Desjardins Insurance brand across Canada.

Included in this process is the physical sign change on the former State Farm Canada head office building in Aurora, Ontario (new building signs should be up by end of day on Wednesday, May 2, barring equipment issues and adverse weather).

Eventually, all Desjardins Insurance offices across the country and those inhabited by agents that are now a part of the new Desjardins Agency Network will also see sign and logo changes.

Summery of original news release: 

  • In January 2015, Desjardins Group completed the purchase of State Farm Canadian property and casualty and life insurance operations, as well as its mutual fund, loan and living benefits companies.
  • As part of its ongoing integration plan, Desjardins announced today that the former State Farm Canadian business will gradually be rebranded Desjardins Insurance.
  • The brand transition will officially begin on May 1, 2018, and will be completed by December 31, 2019.
  • State Farm clients in Canada will be served by their current agents who will transition to the Desjardins Insurance brand under the new Desjardins Agent Network.

 

Premier Group appoints Mo Kaur to President and COO

Canadian based Managing Underwriting Agency, Premier Group (Premier Marine Insurance and Premier Canada Assurance Managers) announced today that Mo Kaur will assume the role of President and Chief Operating Officer.

Kaur succeeds Troy Moreira, who held the position since late 2001.  Moreira has decided to step away from the day to day leadership of Premier.  He will remain with the company as an executive advisor to Kaur assisting with the transition, and will also serve as a Director on the Premier Board.  “Premier has been a great success story” Moreira said “what started as a single-product Marine MGA has developed into a multi-class specialty underwriting agency with offices throughout Canada and the US.”  “I have thoroughly enjoyed my time at the helm of Premier and thankful for all the wonderful people I have had the opportunity to work with and meet in that time”.

Kaur has been a part of the Premier team for 6 years, serving as Senior Vice President for the past 5 years, contributing to all aspects of the organization.   Kaur brings 25 plus years of insurance experience to the role, beginning her career in London (UK) for Royal Insurance, and serving in various underwriting and management positions with insurers in the Western Canada marketplace.   On the academic front, Kaur has an honors degree in Mathematical Studies, University of London, UK and her ACII (Associateship Chartered Insurance Institute) London UK.

“Working with Troy has been one of the most dynamic and rewarding roles that I have undertaken in my career” said Kaur.  “I am honored and excited to be given the opportunity to continue to expand the Premier business with brokers across Canada and the US, and continuing to grow our long-standing relationships with our insurer partners in Canada and the London market.”

About Premier –

Founded in 1990, Premier is one of Canada’s largest MUA / Managing Underwriting Agencies, with a broad product offering spanning:  Professional Liability, Environmental, Construction, Specialty Commercial packages, Specialty Personal Lines, and the founding business of Marine Insurance.

Head-quartered in Vancouver, Premier has branch locations in Toronto Ont,  London Ont,  Laval Quebec,  San Diego CA, Seattle WA,  Annapolis, MD and a subsidiary company (Pacific Coast E&S) in Santa Rosa, CA.   Premier employs over 150 employees, and administers a portfolio of well over 130,000 policies each year.

Learn more at www.premiergroup.ca

AXA S.A. announces the launch of the Initial Public Offering of AXA Equitable Holdings, Inc.

AXA S.A. (“AXA”) announces today the launch of the initial public offering (“IPO”) of its wholly-owned subsidiary, AXA Equitable Holdings, Inc. (“AEH”) and the commencement of the roadshow for the offering.

AXA, as the selling stockholder, is offering 137,250,000 shares* of common stock of AEH, and has granted the underwriters a 30-day option to purchase up to an additional 20,587,500 shares of common stock. The IPO price is currently expected to be between USD 24 and USD 27 per share.

The shares are being offered by a group of underwriters led by Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, Barclays Capital Inc. and Citigroup Global Markets Inc. Copies of the preliminary prospectus relating to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717 or telephone: 866-803-9204; Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: Barclaysprospectus@broadridge.com or telephone: 888-603-5847; and Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or telephone: 800-831-9146.

The shares are expected to trade on the New York Stock Exchange under the ticker symbol “EQH”.

A registration statement relating to the proposed IPO has been filed by AEH with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

*Out of 561,000,000 total common shares

Great West Lifeco Inc. acquires strategic investment in Irish company

WINNIPEG _ Great-West Lifeco Inc. has signed a deal to acquire a strategic investment in Invesco Ltd. (Ireland), an employee benefit consulting and private wealth management firm.

Financial terms of the deal done by Great-West’s subsidiary Irish Life Group Ltd. were not immediately available.

Invesco is expected to continue to operate independently under its existing brand and with the same senior leadership team.

Established in 1991, Invesco has more than 125 employees and manages the corporate pension plans of over 275 large corporations in Ireland, along with over 500 small and medium companies.

The acquisition is subject to regulatory approval and customary closing conditions. It’s expected to close in the third quarter of this year.

Great-West says the deal is expected to be accretive to earnings, although not material to its financial results.

The Co-operators Chief Client Officer announces retirement

The Co-operators announced the retirement of Executive Vice President and Chief Client Officer, Rick McCombie, effective the end of 2018.

McCombie joined Co‑operators General in 1976 and spent most of his career leading exceptional Client Engagement, Claims, Distribution and Service strategies across The Co‑operators group of companies. Rick’s achievements are illustrated in the record-breaking client growth, high Net Promoter scores, and the number of industry-leading JD Power client satisfaction awards.

“Under Rick’s guidance and pursuit to deliver a superior client experience, along with his tenacity and commitment to always place our clients in the centre of our decision making and planning, The Co-operators has thrived,” says Rob Wesseling, President and CEO. “He’s a true champion of our company values, community involvement and people, and is an active member in the community. Rick’s contributions and true co-operative spirit will be felt across the industry and within our organization for many years to come.”

Rick’s career highlights also include 10 years of profitable growth in the Southwestern Ontario Region while under his leadership. And, he led the Co‑op Auto Coalition in the early 1990s. He’s also an active member in the community, chaired both the London/Middlesex and Guelph/Wellington United Way chapters and currently sits on the United Way Board and Cabinet.

About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $41 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products.  The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers in Canada by Aon Hewitt and Corporate Knights’ Best 50 Corporate Citizens in Canada. For more information, visit www.cooperators.ca.

SOURCE The Co-operators

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