Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
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...
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...
