The Canadian Property & Casualty (P&C) Insurance Industry is going through dramatic changes. There have been significant industry consolidations over the past 15 years at all levels of the distribution chain. In addition, changes in consumer behavior, new online distribution platforms, higher business valuations and increased competition are dramatically changing how business is being done.

At Smythe we understand the realities of the current business environment for insurance market participants. Our firm is recognized throughout Canada as a leader in providing accounting and advisory services to the P&C Industry.

Our advisory practice, Smythe Advisory, delivers an exceptional level of client service that adds value to our clients’ businesses.

Our reputation for quality, integrity and innovation is well-known to agents, brokers, MGAs, banks, insurance companies and private equity firms throughout Canada. Our objective is to help the insurance distribution industry with industry-leading services that maximize value.

Our Services

Our services tailored for insurance businesses include:

Our Experience

Leading the Smythe Advisory practice is Partner Mike Berris, CPA, CA, CBV. Mike has been advising insurance industry participants for over 25 years and is recognized throughout Canada as a leading advisor in this field. Working with Mike is Partner Alex Wong, CPA, CA, CBV, and a team of seven professionals that all have considerable experience with every aspect of the insurance distribution industry.

In addition, Smythe Advisory has developed good working relationships with other industry participants, helping us leverage our service offerings. This includes trusted relationships with banks, private equity firms, consolidators and lawyers.

Over the years we have been involved in hundreds of assignments that include services ranging from accounting assistance, valuations, raising of capital, restructuring, management buyouts and mergers and acquisitions. This experience allows us to provide our advisory services in a timely and cost-effective manner.

Our Recent Projects

Our services are generally tailored to the specific needs of our clients. Some examples of recent projects include:

  • Managed a full divestiture process for a Manitoba-based brokerage sale to a National Insurance Company;
  • Preparation of valuation reports for matrimonial litigation;
  • Preparation of valuation reports for management buy-outs;
  • Developed financing proposal and negotiated with lenders for start-up brokerage;
  • Arranged financing of $30 million for brokerage restructuring;
  • Developed financial models to assist brokers to obtain financing;
  • Completed corporate tax reorganizations;
  • Assisted in the negotiation and structuring of shareholder transitions;
  • Ran due diligence process on a recent brokerage acquisition;
  • Assisted in negotiation of brokerage Letter of intent and share purchase agreement;
  • Provided local support for a Lloyd’s brokerage evaluation of a brokers operating processes;
  • Assisted in the conversion to EPIC; and
  • Assisted Canadian Bank to evaluate brokerage profitability.

Current Clients

While the names of our clients are held in confidence, the type of clients we serve include the following:

  • Over 50 privately owned brokerages
  • Managing general agents
  • Credit Unions
  • Canadian based insurance companies
  • Canadian banks
  • Individual producers
  • Law firms
March 4, 2022

New Reporting Rules for Trusts Starting 2022

Currently, certain inactive trusts are exempt from filing a trust return (T3 Return). However, for taxation years ending on or after Decembe...
March 2, 2022

Updates to Our Process: Personal Tax Season

With the tax season underway, we would like to take this opportunity to share with you some changes to expect this season, along with import...
August 27, 2021

Intergenerational Transfers – New Rules… For Now

Historically, intergenerational business transfers were taxed punitively compared to an arm’s length sale. That is, a business owner selli...

Sign up to receive our newsletter