Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Biden Backs States Against Manufacturers Over Prescription Drug Imports From Canada
Jun 1 2021 // The Biden administration is urging a federal court to dismiss a lawsuit that could stand in the way of states like Florida in allowing prescription drugs to be imported from Canada. In a legal brief filed Friday, the White...
Canada Faces Mega-Hurricanes if Climate Change Pushes Storms North: Swiss Re Warns
May 21 2021 // Climate change is making hurricanes bigger and stronger, and it may soon push them farther north. Yet Canada’s homeowners, businesses and insurers underestimate that escalating risk, according to one of the...
March Storm in Eastern Canada Cost Insurers C$50 Million
May 19 2021 // A storm that moved across eastern Canada from March 26-29 brought heavy rain and strong winds, causing C$50 million (US$41.5 million) in insured damage, according to initial estimates from Catastrophe Indices and...
People Moves: AXA XL Canada Names 5 Underwriters; MS Amlin Appoints 2 at Reinsurance Business
May 13 2021 // This wrap-up of international People Moves details recent appointments at AXA XL and MS Amlin. AXA XL announced that it has added five Toronto-based underwriters to strengthen its casualty, professional liability and...
Canada’s Riverview Insurance Solutions Merges with Sterling Capital Brokers
May 11 2021 // Riverview Insurance Solutions (RIS), the Alberta, Canada-based middle-market benefit consulting firm, announced it will merge with Sterling Capital Brokers (SCB). The combined company will create the largest independent...
Insurers Warn Canada’s Moving Too Slowly on Flood Mapping
May 6 2021 // OTTAWA – Canada plans to focus its next budget on tackling climate change and its effects but the insurance industry, amid skyrocketing costs, is concerned the government will move too slowly on the key first step of...
Canadian MGA GroupAssur Merges with Evolution Insurance
Apr 21 2021 // GroupAssur, a Canadian managing general agent (MGA), specializing in property/casualty insurance lines, announced it has merged with Evolution Insurance, an MGA and wholesaler specializing in complex risks that offers its...
Hub International Acquires Wessex Financial Inc. in Canada
Apr 9 2021 // Hub International Ltd., a Chicago-based insurance broker, announced that it has acquired Wessex Financial Inc. in Canada. Terms of the transaction were not disclosed. Located in Calgary, Alberta, Canada, Wessex Financial...
Canada’s Constellation Insurance to Acquire Ohio National for $1 Billion
Mar 24 2021 // Canada’s Constellation Insurance Holdings, Inc. has agreed to acquire Cincinnati-based life and disability insurer Ohio National Mutual Holdings, Inc. and its wholly owned subsidiary Ohio National Financial Services,...
Munich Re’s Transportation, Logistics Specialty Broker Roanoke Expands to Canada
Mar 18 2021 // Roanoke Insurance Group is expanding to Canada to provide insurance and surety bonds to companies involved in logistics, transportation and shipping. The new entity, Roanoke Insurance Group Canada, Inc., (RIG CA), is an...
Canada’s Trans Mountain Pipeline Wants to Keep Insurers Secret from Project Protestors
Mar 11 2021 // Trans Mountain Pipeline LP is petitioning to keep the insurers of its controversial Canadian oil sands pipeline confidential as environmental groups urge insurance companies to drop their coverage. The pipeline company...
CNA’s Cyber Risk Services Program, CNA CyberPrep, Launched in Canada
Mar 5 2021 // CNA announced that CNA CyberPrep, a proactive cyber risk services program, has been launched in Canada. Already available to CNA’s customers in the United States, CNA CyberPrep helps cyber policyholders with threat...
Canadian Insurtech Farmers Edge Raises $100 Million in IPO
Feb 26 2021 // Farmers Edge Inc. raised about C$125 million ($100 million) in its Canadian initial public offering after selling shares at the top end of its marketed range, according to people familiar with the transaction. Farmers Edge...
Zurich North America Names Aviva’s Kundi as Canada Chief Risk Officer
Feb 25 2021 // Sonia Kundi has joined the Zurich North America Group Risk Management team as Canada chief risk officer, effective immediately. She reports to North America Chief Risk Officer Colleen Zitt and will be a member of her...
AI Startup that Uses AI and Partners with Re/insurers, Now Is Seeking Canadian IPO
Feb 10 2021 // Farmers Edge Inc., a firm that uses artificial intelligence to help growers boost crop yields, is seeking to raise about C$100 million ($79 million) in an initial public offering to strengthen its finances and repay...
Hub International Buys Canada’s John Galon Insurance Services and Galon Management
Feb 2 2021 // Hub International Ltd., the Chicago-based insurance broker, announced it has acquired John Galon Insurance Services Ltd. and Galon Management Ltd., collectively known as Galon Insurance Brokers. Terms of the transaction...
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...
