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