Insurance industry still hot with mergers and acquisitions

The insurance industry continues to be a force to be reckoned with when it comes to business transactions in the country. A company based out of the states is the latest to make news on the mergers and acquisitions front by scooping up a major consulting firm based in Ontario. Hub International Canada's latest acquisition -- GMS Insurance Inc. -- strays from its previous deals last year, which were mainly out of the western part of the country.

Hub's president said those deals weren't made specifically because they were located out west, but deals were inked simply when the favourable ones presented themselves. Basically, she said, it's timing more than anything. The president also said that Hub looks to acquire businesses that fit in with the company's niche and that have the capacity for growth in the industry. 

Every merger and acquisition is different, the president said, adding that she is mindful of choosing businesses that bring a mix of opportunities to Hub's overall mandate and strategy. The company works with sellers to understand Hub's motivation for purchases and its intention to mitigate any risks after the sale. It is a win-win situation for both sides.

Mergers and acquisitions can change the landscape of a business. They can enrich a company's financial picture if decisions are made wisely. An Ontario lawyer may be able to help an entrepreneurial client to make stalwart decisions when it comes to these types of dealings, which can be extremely complex. Having a lawyer's experience before, during and even after a merger or an acquisition may help move the company forward in its new venture. 

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