Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Canadian Insurtech Apollo Closes C$13.5 Million Funding Round
Jan 11 2021 // Apollo Insurance Solutions Ltd., the Toronto-based online insurance company, announced it has closed an oversubscribed C$13.5 million (US$10.6 million) Series A financing round, which exceeded its original C$4 million...
Arthur J. Gallagher & Co. Acquires Canada’s Cain Insurance Services Ltd.
Jan 7 2021 // Arthur J. Gallagher & Co. announced the acquisition of Cain Insurance Services Ltd., based in Fredericton, New Brunswick in Canada. Terms of the transaction were not disclosed. Founded in 1986, Cain Insurance Services...
AXA XL Names Marsh’s Barker to Lead Aviation Insurance Business in Canada
Dec 18 2020 // AXA XL has appointed Alex Barker to lead its aviation insurance business in Canada. Barker will report to Eric Donofrio, chief underwriting officer, Aerospace, Americas, and to Renato Rodrigues, country manager,...
Canada Reports 20-Year High in Overseas Investment in Insurance M&A
Dec 17 2020 // Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and...
Canada Regulator to Allow Insurers, Banks to Pay Some Special Dividends
Dec 15 2020 // TORONTO – Canada’s financial regulator said on Monday it could allow institutions to pay special non-recurring dividends under “exceptional circumstances,” even as it maintains a March moratorium on...
UK Insurer Aviva to Sell Vietnamese Business to Canada’s ManuLife
Dec 14 2020 // British insurer Aviva PLC is selling its Vietnamese business to Canadian insurer ManuLife Financial Corp, it said on Monday, as it pushes ahead with plans to pull out from its non-core markets. Aviva, under new boss Amanda...
Canada Must Address Rising Costs of Natural Disasters, Says Research Group
Dec 8 2020 // Canada should accelerate measures, including financing mechanisms, to help governments, companies and individuals prepare for the rising costs of weather-related disasters, according to a research institute. The cost of...
Private Equity Firm Cinven and Canada’s BCI to Buy Legacy Specialist Compre
Dec 1 2020 // Cinven, an international private equity firm, and British Columbia Investment Management Corp. (BCI), one of Canada’s largest institutional investors, announced they have reached an agreement to acquire Compre, a...
HSB Canada Launches ‘Sensor Systems by HSB’ to Help Cut Commercial Water Claims
Nov 19 2020 // HSB Canada, part of Munich Re, has introduced “Sensor Systems by HSB,” a turnkey solution to help insureds reduce common property claims. The program monitors, predicts and alerts customers to risk events...
Canada’s Intact Financial Caps Decade of Acquisitions with $9.4 Billion RSA Deal
Nov 19 2020 // After a decade of buying up rivals to become Canada’s largest property and casualty insurer, Intact Financial Corp. is looking across the Atlantic with its biggest deal yet. Intact sealed an agreement Wednesday to...
Intact, Resilience Insurance to Provide Cyber Risk Coverage, Services
Nov 19 2020 // Intact Insurance Specialty Solutions, the brand for Intact Financial Corporation’s (IFC) U.S. insurance company subsidiaries, has launched cyber insurance options that will be offered in partnership with program...
Swiss Re Names Kitsikis as Head of Client Markets P&C for Canada, English Caribbean
Nov 17 2020 // Swiss Re announced the appointment of Agis Kitsikis as head of Client Markets P&C for Canada and English Caribbean, effective immediately. Kitsikis succeeds Stefan Behr, who recently accepted the position as Swiss...
Canada’s Banks, Insurers to Participate in Pilot Climate Risk Project
Nov 17 2020 // Some of Canada’s largest banks and insurers are set to participate in a pilot project to better understand the risks to the financial system from the transition to a low-carbon economy, Canada’s central bank...
Arthur J. Gallagher & Co. Acquires Canada’s Optimum Talent Inc.
Nov 6 2020 // Arthur J. Gallagher & Co. announced the acquisition of Montreal, Quebec-based Optimum Talent Inc. Terms of the transaction were not disclosed. Founded in 1981, Optimum Talent is one of Canada’s largest...
Update: UK Insurer RSA Receives $9.4B Takeover Offer From Intact Financial, Tryg
Nov 5 2020 // RSA is in talks with a consortium of Canadian insurer Intact Financial and Danish insurer Tryg about a possible break-up deal that values the British firm at about 7.2 billion pounds ($9.46 billion). RSA said its board...
Hub International Acquires Alberta, Canada Broker Stalco Insurance
Nov 4 2020 // Hub International Ltd., the Chicago-based insurance broker, announced that it has acquired Stalco Insurance Ltd., a Canadian insurance broker. Terms of the transaction were not disclosed. With locations in Wainwright,...
The Co-operators Buys Canadian Broker Linda Rioux Assurances
Nov 4 2020 // The Co-operators has purchased Linda Rioux Assurances, the Warwick, Quebec-based insurance broker. Financial details of the deal were not disclosed. The broker’s portfolio includes home, auto, farm and commercial...
Insurers Face Liability Uncertainties as Ships Begin to Sail Through Arctic Waters
Oct 27 2020 // When Captain Will Whatley guides a ship through Arctic waters, he is starkly aware of what can go wrong. Double the manpower is needed to navigate. Lookout shifts are kept to just one hour, so sailors don’t lose...
Canada’s Brookfield Business Partners to Buy Remainder of Insurer Genworth for $1.2B
Oct 26 2020 // Genworth MI Canada said on Monday real estate service provider Brookfield Business Partners will buy the remaining 43% stake it does not hold in the mortgage insurer for about C$1.6 billion ($1.21 billion). Brookfield,...
Chubb Canada’s President Moore to Retire, Succeeded by Alfieri
Oct 23 2020 // Ellen Moore, the current president of Chubb Canada, has announced her retirement, which will take effect at the end of the year. She is succeeded by John Alfieri, Chubb’s current executive vice president, North...
