A housing market downturn in Canada is among the biggest risks facing the financial system this year, the country’s financial regulator said on Thursday, adding it plans to review the existing home loan stress test and expand its application to …
Finance Minister Chrystia Freeland is imposing a one-time windfall levy on Canada’s major banks and permanently increasing their income tax rate, fulfilling an election promise that has raised the ire of the industry’s top executives. The measures will force banks …
Arthur J. Gallagher & Co. announced the acquisition of Montreal, Quebec-based PCI-Perrault Consulting Inc. (doing business as PCI Compensation Consulting). Terms of the transaction were not disclosed. Founded in 2001, PCI is a compensation consulting firm specializing in total compensation …
Definity Financial Corp. announced a strategic partnership with APOLLO Insurance Solutions Ltd., a Canadian digital insurance broker and MGA that specializes in commercial insurance. This strategic partnership includes a distribution relationship between Definity’s affiliate Definity Insurance Company and APOLLO, and …
A three-week long protest in Canada against pandemic measures that snarled trade and shuttered Ottawa’s core likely cost billions in trade delays, tens of millions in lost sales for businesses, and left behind a hefty policing and clean-up tab. Hundreds …
Swiss Re Corporate Solutions announced it has filed an application with regulators to establish a new Canadian branch of North American Specialty Insurance Co. (NAS) and transfer operations to that branch, including new and renewal business, from its existing Westport …
Canada roped in banks to help cut funding to protesters against COVID-19 mandates this week, but the requested speed and broad scope of the measures leaves financial institutions to their own devices in enforcing most of them, industry-watchers said. Prime …
Network operators of critical Canadian infrastructure should boost their defenses against Russian state-sponsored threats, Canada’s signals intelligence agency said on Thursday. The warning from the Communications Security Establishment (CSE) is the latest in a series of bulletins from Canada’s two …
Canada’s financial sector is facing a talent shortage in sustainable finance as demand for people who can evaluate ESG-related risks and opportunities far exceeds the supply, according to a new study. Environmental, social and governance factors are becoming central to …
Canada’s total insured catastrophe losses were C$2.04 billion (US$1.63 billion) to date, landing the year in the top five loss years for the country, according to Catastrophe Indices and Quantification Inc. (CatIQ). Further, with 14 events incurring at least C$25 …
