Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
New Unicorn Wealthsimple Plans Insurance, Mortgage Products Buildout Before IPO
Oct 16 2020 // Fresh off achieving a $1 billion valuation, Wealthsimple Inc.’s top executive says the firm has more work to do before pursuing an initial public offering. The online investment company, which on Wednesday announced...
Factbox: Insurers and Banks that Have Shunned Canada’s Oil Sands
Oct 15 2020 // Canada is betting that efforts to incrementally reduce greenhouse gas emissions from its oil sands deposits will win back investors, banks and insurers who in recent years have shunned the carbon-heavy resource for...
Canada’s Intact Rebrands OneBeacon, All North American Specialty Insurance as Intact
Oct 14 2020 // Intact Financial Corp. is bringing together its Canadian and U.S. specialty insurance operations under a single brand: Intact Insurance Specialty Solutions. The U.S. businesses had previously operated under the OneBeacon...
Exiting Insurers, Premium Hikes Frustrate Canada’s Struggling Hospitality Industry
Oct 8 2020 // Canadian hospitality businesses, already reeling from the downturn sparked by the coronavirus pandemic, are facing yet another existential threat as insurance companies spike premiums or exit the space, citing losses and...
Hub International Buys Canadian Benefits Consultancy Firm, Clearpoint
Oct 6 2020 // Hub International Ltd., a Chicago-based global insurance broker, announced it has acquired Canadian benefits firm, Clearpoint, which comprises Clearpoint Advisory Group Inc., Clearpoint Retirement Solutions Inc. and...
Westland Insurance Acquires 2 Brokerage Firms in Alberta, Canada
Oct 5 2020 // Westland Insurance Group Ltd. announced it has acquired two brokers, based in Alberta, Canada, effective October 1, 2020. Ironside Insurance Brokers is a family-owned brokerage located in Carstairs, Alberta. Its...
Manulife to Begin Offering Canadians COVID-19 Travel Insurance
Sep 16 2020 // Canadian insurer Manulife Financial Group will restore some coverage for coronavirus-related trip interruptions in a new travel insurance policy that also includes COVID-19 in its emergency medical coverage. The policy...
Summer Storms Bring Alberta’s Tab for Severe Weather Insurance Claims to $2 Billion
Sep 11 2020 // Severe weather events have hit Alberta hard over the spring and summer months. Four events from April to August brought the insured damage total for natural catastrophes in the province to $2 billion, based on surveys from...
COVID-19 Takes Toll on Canada’s Auto, Life Insurers
Sep 10 2020 // Canada’s property/casualty insurance industry thus far has fared better than its life counterpart amid the economic and market dynamics created by the COVID-19 pandemic, according to an AM Best report. In its...
Actuaries Index: Extreme Climate Conditions Hit New High in Winter 2019-20
Aug 27 2020 // A multiyear trend of increasing climate condition measurements from the U.S. and Canada hit a new high in winter 2019-2020, according a new Actuaries Climate Index released this week. The quarterly data’s key metric...
European Union Safety Agency to Start 737 MAX Flight Tests
Aug 27 2020 // The European Union Aviation Safety Agency (EASA) said on Thursday it plans to begin flight tests of U.S. planemaker Boeing Co.’s 737 MAX plane in Vancouver, Canada, in the week starting Sept. 7. The test flights will...
Coronavirus Erodes Countries’ Economic Resilience; Global Insurance Gaps Widen
Aug 26 2020 // The COVID-19 pandemic is expected to reduce global macroeconomic resilience by about 20% in 2020 from 2019 levels as stimulus packages deplete countries’ fiscal and monetary buffers around the world. At the same...
One80 Intermediaries Acquires Canadian MGA, Strategic Underwriting Managers
Aug 12 2020 // One80 Intermediaries, a Boston-headquartered wholesale broker, program manager, and insurance aggregator, announced it has acquired Strategic Underwriting Managers Inc. (SUM), a Canada-based managing general agent. Terms...
Gallagher Buys Canada Retail Broker Insight Insurance
Aug 6 2020 // Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced the acquisition of Edmonton, Alberta-based Insight Insurance & Risk Management Ltd. Terms of the transaction were not disclosed. Founded...
Guy Carpenter Appoints Askew as Canada President and CEO, Succeeding Callahan
Aug 5 2020 // Guy Carpenter & Co., the reinsurance broker and unit of Marsh & McLennan Cos., announced the appointment of Peter Askew as president and CEO, of Guy Carpenter’s Canadian business, with immediate...
Canadian Life Insurers to See Double-Digit Profit Drop in Q2 on COVID-19 Impact
Jul 31 2020 // Canadian life insurers are set to see double-digit earnings decreases in the second quarter as the pandemic-induced economic slowdown has ushered in decade-low interest rates and weighed on sales. Analysts predict declines...
Zurich Insurance Decides Not to Renew Cover for Canada’s Trans Mountain Oil Pipeline
Jul 23 2020 // Insurer Zurich has decided not to renew cover for the Canadian government’s Trans Mountain oil pipeline, said a spokeswoman for the project, which is opposed by environmental campaigners and some indigenous...
Canadian Insurer Manulife Plans to Increase Diversity by 30% Within 5 Years
Jul 20 2020 // Manulife Financial Corp said on Friday it was making a push to increase the representation of minorities across its North American businesses, joining a host of companies that have pledged to improve racial diversity at...
Hailstorm in June Was One of Canada’s Costliest Thunderstorm-Related Events: Aon
Jul 17 2020 // Canada saw powerful a series of powerful thunderstorms in June, which brought hail greater than the size of tennis balls and caused extensive damage and flooding throughout the greater Calgary metro region, said Aon in its...
Canadian Insurtech MGA Foxquilt Raises Seed Funding to Develop Small-Biz Platform
Jul 9 2020 // A Canadian insurtech focused on small business insurance said it raised $3.5 million in seed financing. Foxquilt, a Toronto-based MGA startup, said the funding will help it become a full-service insurance provider with a...
