Desjardins Group News

Canada’s Desjardins Reports Costs of $53M Related to Data Breach

Canadian lender Desjardins Group said on Monday it spent C$70 million ($53 million) in the second quarter related to a data privacy breach earlier this year that exposed personal information of 2.9 million members. The company offered the affected accounts …

Canada’s Desjardins Blames Employee for Leak of Personal Details of 2.9M Customers

Desjardins Group, the largest financial co-operative in North America, said an “ill-intentioned” employee illegally exposed the personal information of some 2.9 million credit union members in one of Canada’s largest data leaks. Laval police alerted the Quebec-based institution on June …

Canada’s Desjardins Aims to Buy P/C Insurers: CEO Cormier

Desjardins Group is looking to acquire insurers, wealth managers and payments firms to expand further outside Quebec and challenge the dominance of Canada’s big financial services firms, Chief Executive Officer Guy Cormier said. Cormier, who oversees North America’s largest financial …

Economical Completes Purchase of Canada’s Largest Pet Insurer

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 flagship brand Petsecure from Desjardins Group. Concurrent with the acquisition, WFIC changed …

Economical to Buy Largest Canada Pet Insurer, Western Financial Insurance Co.

Economical Mutual Insurance Co., the Waterloo, Ontario-based property and casualty insurance company, announced plans to acquire Desjardins Group’s pet insurance business, Western Financial Insurance Co. (WFIC) and its flagship brand Petsecure. WFIC is Canada’s largest pet insurance company with net …

State Farm Canada Selling Insurance, Mutual Fund Businesses to Desjardins Group

Desjardins Group, a leading cooperative financial group in Canada, has agreed to purchase State Farm Canada’s property/casualty and life insurance businesses, as well as its Canadian mutual fund, loan and living benefits companies, for CA$1.6 billion (or roughly $1.5 billion). …