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Media Coverage

Le Journal de l’assurance quotes Stephen Kerr in an article on the recent consolidation trend within the insurance brokerage industry

Fasken
Reading Time 1 minute read
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“La consolidation dans le courtage appelée à s’accélérer” by Hubert Roy, Le Journal de l’assurance

Read the article (available in French only)

“Stephen Kerr, a partner with Fasken Martineau in Toronto, has advised insurers and brokerage firms for many years on mergers and acquisitions. Most notably, he advised firms Dale Parizeau and Morris Mackenzie on their merger in 2006. When he first started his career at the end of the 1990s, he recalls that the general insurance market was very fragmented in Canada. 'Insurers would present horrible returns on shareholder equity year after year. Then, in the early 2000s, there was a certain wave of consolidation in the industry. Then the financial crisis occurred, which brought acquisitions back to a normal level. Some insurers, uncertain of where the market was going, chose to leave Canada. But the Canadian market has done well, showing itself to be more resilient than the European and American markets', said Mr. Kerr.”

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