Ontario MGA to acquire Alberta-based Optio Financial Facilitators
Financial Horizons has announced its second major purchase of the year, fuelling further consolidation in the MGA world
Deal beefs up Financial Horizons’ presence in Western Canada
Growing compliance costs could push smaller players out of the market
Other insurers are likely to follow a similar path
Advisors say MGAs perform better than dedicated sales agencies in sharing information and being receptive to advisor feedback
The CCIR issues its strongest call yet for greater oversight of MGAs by insurers. But MGAs say the changes could be burdensome
Danielle Boulet, chairwoman of the Canadian Council of Insurance Regulators, says CCIR wants to formalize the industry’s long-standing concern about fair treatment of clients
CCIR paper recommends insurers clearly outline a requirement of agent supervision in their contracts with MGAs
