Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Canada Pension Fund to Commit $1B to Fairfax’s Deal with Allied: Sources
Jan 25 2017 // Prem Watsa’s Fairfax Financial Holdings Ltd. is close to announcing a deal that would see one of Canada’s largest pension funds contribute $1 billion in financing toward its acquisition of insurer Allied World...
Trump Orders U.S. Exit from Pacific Trade Pact and Reset on NAFTA
Jan 23 2017 // President Donald Trump abruptly ended the decades-old U.S. tilt toward free trade by signing an executive order to withdraw from an Asia-Pacific accord that was never ratified and promising to renegotiate the North...
Earthquake Risk: Spotlight on Canada
Jan 20 2017 // This post is part of a series sponsored by CoreLogic. What is ‘The Big One’? When assessing earthquake risk in Canada, many commonly refer to ‘The Big One’ that will eventually strike British...
Fairfax in Talks to Sell 25% of India’s ICICI Lombard, Worth Up to $1B
Jan 20 2017 // Fairfax Financial Holdings is in early talks to sell 25 percent of India’s largest private general insurer ICICI Lombard in a deal that could fetch up to $1 billion, as the Canadian firm looks to cash out and start a...
Canada’s Energy Firms at Risk from Cyber, Bomb Attacks: Security Service
Jan 19 2017 // Canada’s main spy agency last year warned energy companies about an increasing risk of cyber espionage and attacks on pipelines, oil storage and shipment facilities and power transmission towers using homemade...
New Climate Index Shows Extreme Weather Is Now 3 Times More Frequent
Jan 12 2017 // Extreme weather over the last five years has been occurring with a regularity that’s about three times the norm, according to a newly created index from a group of number crunchers. The Actuaries Climate Index, which...
BHSI Enters Canada Marine Market; Chubb’s Rider Tapped as Sr. U/W
Jan 11 2017 // Berkshire Hathaway Specialty Insurance (BHSI) announced it is introducing inland and ocean marine insurance in Canada and has named Gord Rider as senior marine underwriter. “We are pleased to welcome Gord to our team...
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...
