Webinar: Brokerage Options for Acquisition, Succession & Sale

The pace of M&A activity across the Canadian insurance industry has accelerated rapidly over the past year, leaving many brokerage owners to weigh their options for succession, future growth, and potential sale. There are many factors to balance, and many different paths to consider — some traditional, and others more novel and unique.

To help you navigate the changing landscape, and in response to member demand, IBAS is pleased to host a special (free) webinar on Tuesday, June 22, which will connect you with the insight and information you need to begin shaping the decisions that are right for you. Please note that this session is open to IBAS member principals only, and your participation will remain anonymous and 'invisible' to other attendees.

Login details will be distributed via e-mail to all confirmed participants the afternoon of Monday, June 21.

Agenda

1 – 2 p.m.: Knowing Your Options

Mike Berris, partner with Smythe Advisory LLP and one of Canada’s leading authorities on brokerage transition, will provide a general overview of the trends and activity in brokerage M&A, and will explore the options that brokerage owners have at their disposal (as well as the implications of each) — from outright sale and acquisition financing to management buy-out, partnership with other brokerages, and more.

2 – 2:10 p.m.: Break

2:10 – 4 p.m.: Partners in Transition

Who would like to partner, who is looking to buy, and who is available to help finance or support your brokerage’s growth and/or transition? These ‘rapid fire’ sessions are an open forum for companies to quickly detail the role they may want to play in your brokerage’s evolution. Each organization receives a short, dedicated time slot to share the information they feel is most relevant to IBAS members (inclusive of both a presentation and any Q&A period). Confirmed presenters include:

• Excel Insurance Group;
• SGI CANADA;
• Navacord;
• Wawanesa Insurance;
• Canadian Broker Network; and
• Westland Insurance.

Presenting organizations will be listed here as confirmed. If you represent an IBAS or IBAC member brokerage or 2021 Annual Partner and wish to present, please contact IBAS President & CEO Derek Lothian at derek.lothian@ibas.ca.

About the Speaker

Mike Berris has more than 25 years' experience providing accounting and business advisory services to the Canadian insurance sector. In particular, Mike focuses on providing clients with industry-leading advice related to:

• Preparation of brokerage valuation reports used for mergers and acquisitions, shareholder agreements, succession planning, litigation, and income tax;
• Expert reports and opinions, including financial analysis on specific issues encountered by brokerages and insurance companies;
• Purchase and sale representation for both vendors and purchasers in M&A, including price determination, negotiation, assisting with the drafting of agreements, and facilitation between parties to ensure a successful closing and transition to the acquirer; and
• Due diligence to ensure that the potential purchaser is well informed of both risks and opportunities of an acquisition.

Mike has taught courses on broker acquisition and succession strategy, developed a training program on profitability management, and contributes articles and papers to various industry publications, including the Canadian P&C Industry Report.

Mike is a graduate of the UBC Sauder School of Business (Finance). He is a member of the professional associations Chartered Professional Accountants of Canada and Canadian Institute of Chartered Business Valuators (CBV).