Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Canada’s CPP Investments to Sell Ascot Group, Wilton Re in Strategy U-turn: Sources
Dec 9 2021 // Canada Pension Plan Investment Board (CPP Investments) is seeking to sell its Wilton Re and Ascot Group insurance platforms, marking a strategic U-turn for the fund in the face of intense competition, people familiar with...
Ransomware Operators Expected to Become More Aggressive: Canada Spy Agency
Dec 7 2021 // Global ransomware attacks increased by 151% in the first half of 2021 compared with 2020 and hackers are set to become increasingly aggressive, Canada’s signals intelligence agency said on Monday. The Communications...
Hundreds of Thousands of Farm Animals Perish in Canada Floods
Dec 3 2021 // Hundreds of thousands of livestock have perished in floodwaters in Canada’s westernmost province, the British Columbia government said Thursday. Back-to-back deluges from atmospheric rivers have damaged major...
Western Canada Braces for Another Deluge From ‘Atmospheric River’
Dec 1 2021 // British Columbia, home to Canada’s biggest port, is bracing for its most intense deluge after a series of damaging rain storms and historic flooding. A so-called atmospheric river is threatening to dump more water on...
People Moves: QBE Names Liberty Mutual’s Hunter as Dir. of Canada; Amwins Global Risks Hires Apollo’s Graham for Casualty; Ardonagh Promotes 2 Snr. Leaders
Nov 30 2021 // This edition of International People Moves details appointments at the insurer QBE Canada and brokers Amwins Global Risks and Ardonagh Group. A summary of these new hires follows here. QBE Appoints Liberty Mutual’s...
Definity Financial’s CEO Plots Acquisitions After Insurer’s Canadian IPO
Nov 29 2021 // Definity Financial Corp., the 150-year-old insurer that held its initial public offering [on Nov. 17], will look to use its newfound access to capital to expand through acquisitions, the firm’s top executive...
Climate Change Could Fuel Atmospheric Rivers, Which Caused Recent Canada Floods
Nov 22 2021 // Atmospheric rivers of the kind that drenched California and flooded British Columbia in recent weeks will become larger — and possibly more destructive — because of climate change, scientists said. Columns in...
Canada Insurer Definity Surges on Market Debut After $1.6B IPO Backed by Swiss Re
Nov 19 2021 // TORONTO – Insurer Definity Financial Corp jumped as much as 36% on its stock market debut on Thursday after raising C$2.1 billion ($1.6 billion) in Canada’s second-largest IPO. Waterloo, Ontario-based Definity...
P/C Insurer Definity Raises $1.1B in Largest Canadian IPO of 2021
Nov 18 2021 // Definity Financial Corp., the property and casualty insurer formerly known as Economical Mutual Insurance Co., raised about C$1.4 billion ($1.1 billion) in the largest Canadian initial public offering of the year. A total...
‘Storm of Century’ Halts Traffic at Canada’s Biggest Port, Adding to Supply Chain Woes
Nov 17 2021 // Traffic at Canada’s largest port has been cut off by what local officials are calling the storm of the century, the latest snag to hit the North American supply chain. Days of torrential rain have pelted British...
Canadian Storms Force Shut-Down of Trans Mountain Oil Pipeline
Nov 16 2021 // OTTAWA/CALGARY, Alberta – Canada’s Trans Mountain oil pipeline has been shut down temporarily because of rainstorms pounding parts of the province of British Columbia, the operating company said in a statement on...
NFP Acquires Western Canada’s Foster Park Brokers Inc.
Nov 12 2021 // NFP, the New York City-based insurance broker and consultant, announced the acquisition of Canada’s Foster Park Brokers Inc. Details of the transaction, which closed on Nov. 1, 2021, were not disclosed. Foster Park...
Canadian P/C Insurer Definity Seeks to Raise $1 Billion in IPO
Nov 9 2021 // Definity Financial Corp., the property and casualty insurer formerly known as Economical Mutual Insurance Co., is seeking to raise C$1.25 billion ($1 billion) in an initial public offering, following in the footsteps of...
Canada Insurers, Banks Can Resume Dividend Hikes as Regulator Lifts COVID-Era Curbs
Nov 5 2021 // TORONTO – Canadian banks and insurers can resume dividend increases and share buybacks and raise executive compensation, the country’s financial regulator said on Thursday, lifting a moratorium it imposed in March...
Canada Employers Shed Unvaccinated Workers With Legal Challenges Expected
Nov 4 2021 // OTTAWA – Canadian employers are firing or putting on unpaid leave thousands of workers who refused to get COVID-19 shots, squeezing an already tight labor market and raising prospects of potentially disruptive legal...
Hub International Acquires Canadian Employee Benefits Broker Rogersworks Inc.
Oct 18 2021 // Hub International Ltd., the Chicago-based global insurance brokerage and financial services firm, announced it has acquired the assets of Rogersworks Inc. Financial details of the transaction were not disclosed. Located in...
Hub International Acquires Quebec’s H.W. Hollinger (Canada)
Oct 8 2021 // Hub International Ltd., a Chicago-based insurance broker and financial services firm, announced it has acquired H.W. Hollinger (Canada) Inc. Terms of the transaction were not disclosed. Based in Montreal, Quebec, Canada,...
Hub International Completes Purchase of Canada’s National Home Warranty Group
Oct 7 2021 // Hub International Ltd., a Chicago-based broker and financial services firm, announced it has completed the acquisition of the assets of National Home Warranty Group Inc., a wholly owned subsidiary of Aviva Canada...
Insured Price Tag for Canada’s Summer Storms and Wildfires Nears C$200M
Sep 24 2021 // Two storms that raged across Alberta and Saskatchewan in Canada in July and August caused C$120 million (US$94.5 million) in insured damage, while the August wildfire, in White Rock Lake, British Columbia, is now estimated...
HSB Canada Introduces Cyber Coverage for Small Businesses
Sep 22 2021 // HSB Canada, part of Munich Re, has introduced HSB Cyber Suite, a comprehensive collection of cyber insurance and services designed to protect small and medium-size businesses from cyber-attacks, data breaches, identity...
