Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Canada’s CMW & Capri Insurance Services Announce Merger
Jan 10 2017 // CMW Insurance Services Ltd. and Capri Insurance Services Ltd. announced they merged on Jan. 1, 2017 to create “one of the largest insurance brokerages and risk management firms in Western Canada.” The two...
Canada’s 2016 Nat Cats Bring Record Insured Damages of $3.7B
Jan 6 2017 // Insured damages from Canadian natural catastrophes during 2016 topped C$4.9 billion (US$3.7 billion) – smashing the previous annual record of C$3.2 billion (US$2.4 billion) set in 2013, according to the Insurance Bureau...
Hub Int’l Buys Canada’s Mainline Insurance Brokers & Affiliated Firms
Jan 5 2017 // Hub International Ltd., the Chicago-based global insurance brokerage, announced it has acquired Mainline Insurance Brokers Inc., Indian Head Agencies (1980) Ltd., R&J McKay Agencies Ltd. and Cathedral Insurance...
Economical Completes Purchase of Canada’s Largest Pet Insurer
Jan 4 2017 // Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced the completion of its previously announced acquisition of Western Financial Insurance Co. (WFIC) and its...
Canada’s Fairfax Gets Approval to Buy 51% of India’s Catholic Syrian Bank
Dec 30 2016 // Value investor Prem Watsa’s Fairfax Financial Holdings Ltd. won regulatory approval to buy 51 percent of Catholic Syrian Bank Ltd., marking the first time India’s central bank is allowing a foreign investor to...
Canada to Ban All Products Containing Asbestos by 2018
Dec 21 2016 // Canada is moving to ban all products containing asbestos by 2018. The comprehensive ban will include construction materials and brake pads that currently use the cancer-causing agent. Canada closed its last asbestos mines...
Canada’s Fairfax to Buy Switzerland’s Allied World for $4.9B in Cash, Stock
Dec 19 2016 // Fairfax Financial Holdings Ltd., the Canadian investment and insurance company, agreed to buy Allied World Assurance Co. for $4.9 billion in cash and stock in Chief Executive Officer Prem Watsa’s biggest...
Canada’s P/C Insurance Market Stable with Good Demand: Moody’s
Dec 12 2016 // The outlook for the Canadian property and casualty (P/C) industry is stable, driven by good demand, strong underwriting discipline and solid balance sheets, says Moody’s Investors Service in a report. However, these...
Major Canada Earthquake Could Lead to Widespread Insurer Insolvencies: Report
Nov 22 2016 // A massive earthquake off the coast of British Columbia has the potential to cause widespread failure among insurance companies and trigger a domino effect across the financial sector, according to a Conference Board of...
October Floods in Atlantic Canada Cost $100M-Plus in Insured Damage
Nov 21 2016 // A tropical moisture system resulting from Hurricane Matthew swept through Atlantic Canada last month, resulting in more than $100 million in insured damage, according to Insurance Bureau of Canada (IBC), which quoted a...
Chubb Launches Liability Coverage Suite to Protect Family Offices in Canada
Nov 9 2016 // Chubb has launched a new suite of insurance coverages to help family offices* manage their liability exposures. Called the “Family Office Amplifier,” Chubb said the product addresses “the wide spectrum of...
Verisk Analytics Buys Canadian Real-Time Analytics Firm Analyze Re
Oct 24 2016 // Data firm Verisk Analytics Inc. said it has acquired Halifax, Novia Scotia-based Analyze Re, a software analytics provider for the reinsurance and insurance industries founded in 2013. Terms of the deal were not...
PartnerRe to Buy Canada’s Aurigen Capital, in Life Reinsurance Push
Oct 21 2016 // PartnerRe Ltd., the reinsurer owned by John Elkann’s EXOR SpA, agreed to buy Aurigen Capital to expand in coverage of life policies in North America. PartnerRe agreed to pay C$375 million ($284 million) in a deal...
Slow Pace of Insurance Payouts, Rebuilding Angers Alberta Wildfire Victims
Oct 18 2016 // Some five months after the wildfires that devastated Fort McMurray were extinguished, anger over red tape and the slow pace of insurance payouts and permit issuance is flaring in the remote northern Canadian city. More...
Canada’s Health Insurance Startup, League, Receives Broker License
Oct 12 2016 // Canadian health benefit startup League Inc said on Wednesday it has teamed up with the insurance arm of backer Royal Bank of Canada as it expands into insurance, targeting the many small businesses offering no such...
Olsen Tapped as President, HUB Canada; Robertson as Exec VP, Int’l Business
Oct 11 2016 // Hub International Ltd. (HUB), the Chicago-based global insurance brokerage, has named Tina Osen as president of HUB Canada. She currently is president of HUB TOS in British Columbia, Canada. In addition, Chad Robertson,...
Canada’s Regulator Tightens Capital Requirements for Mortgage Insurers
Sep 23 2016 // Canada’s financial services regulator released new draft capital requirements for federally regulated mortgage insurers to better reflect growing risks in the country’s housing markets. The Office of the...
Burns & Wilcox Names CRC’s Fuhrman to Retail Agency National Relationship Post
Sep 22 2016 // H.W. Kaufman Financial Group and Burns & Wilcox announced that Marc Fuhrman will join the firm in a new role as national relationship manager. Fuhrman, based in Los Angeles, formerly served as senior vice president of...
Changes at the Top of Hub International: Cohen, Gulliver, Lineker
Sep 20 2016 // Insurance broker Hub International Limited (HUB) has named Marc Cohen, currently regional president of HUB East Region, as president of HUB International as part of a restructuring of top management. Cohen will replace...
AIG Selling Stake in Ascot Lloyd’s Syndicate; Will Keep Bermuda, Reinsurance Ties
Sep 16 2016 // American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board...
