Royal Bank of Canada News

UK’s Aviva to Buy Royal Bank of Canada Unit for North America Expansion

Aviva Plc, the U.K.’s second-biggest insurer by market value, agreed to buy a home and auto insurer from Royal Bank of Canada for C$582 million ($402 million) to expand in North America. The purchase will increase Aviva’s policy sales in …

Royal Bank of Canada Is Reviewing Future of Volatile P/C Insurance Unit

Royal Bank of Canada is reviewing its domestic property and casualty insurance business, Chief Executive Officer David McKay said, citing difficulties caused by rules that ban banks from selling coverage in branches. “We’re trying to decide which direction we go,” …

RBC Facing $76 Million in Shareholder Claim Over Merger

A Delaware judge said Royal Bank of Canada must pay $75.8 million in damages to former shareholders of Rural/Metro because it failed to disclose conflicts of interest that tainted the $438 million buyout of the ambulance operator. The ruling is …

Big Banks Win Dismissal of Most LIBOR Rate Rigging Claims

The world’s biggest banks won a major victory on Friday when a U.S. judge dismissed a “substantial portion” of the claims in private lawsuits accusing them of rigging global benchmark interest rates. The 16 banks had faced claims totaling billions …