April 8, 2022
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 …
February 25, 2022
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 …
February 18, 2022
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 …
November 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 said. Chief Executive Officer Rowan Saunders said the …
November 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 priced its IPO at C$22.00 per share, the top …
November 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 of 63.6 million shares were sold for …
November 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 other large Canadian insurers that have moved …
November 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 2020 and possibly paving the way for a boost …
August 26, 2021
OTTAWA – Canada’s ruling Liberal Party said on Wednesday that if re-elected it would raise corporate taxes on the most profitable banks and insurers to help pay for the cost of the COVID-19 recovery. The Liberals said they would hike …
December 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 market participants expect more deals in 2021. …