Éric Trudel’s long leadership and oversight tenure across roles in the insurance industry resulted in a win at Benefits Canada’s 2024 Workplace Benefits Awards on Oct. 18. The executive vice-president and leader of group insurance at Beneva Inc. won the Industry Leadership award for his commitment to resourceful solutions for both benefits plan members and […]
Sales of U.S. workplace supplemental health products totalled nearly US$1.3 billion in new annualized premiums in the first quarter of 2024 ― a three per cent increase year over year, according to a new report by LIMRA. It found major product lines of accident, critical illness and hospital indemnity insurance combined grew four per cent from […]
Hub International Ltd. is acquiring London, Ont.-based Zavitz Insurance & Wealth Inc. Zavitz Insurance provides group employee benefits, living benefits, life insurance services and financial and retirement planning. The organization is the latest acquisition by Hub over the last few years. Read: Hub International acquiring Oakville, Ont.-based Mitchell Sandham Last month, Hub acquired Oakville, Ont.-based Mitchell […]
The Caisse de dépôt et placement du Québec is selling 1.3 per cent of the issued and outstanding common shares it holds of insurance provider Intact Financial Corp. The investment organization will sell about 2.3 million shares at a price of $227.10 per share, resulting in gross proceeds of approximately $525 million. Once the transaction […]
Hub International Ltd. is acquiring Oakville, Ont.-based Mitchell Sandham Inc., an independently owned insurance brokerage company that provides commercial and personal insurance and employee benefits services. The merger will provide Mitchell Sandham’s clients with enhanced resources and expertise, including a broader geographical reach across Canada and the U.S., said Mitchell Sandham’s chief executive officer, Aaron […]
Navacord Corp. is partnering with Belay Advisory, an Edmonton- and Calgary-based benefits consulting and wealth advisory firm. “We were drawn to Navacord because of their decentralized model that fosters strong entrepreneurial spirit, which has always been a cornerstone of our success at Belay,” said John Goode, a partner at Belay Advisory, in a press release. […]
Ontario-based StoneRidge Insurance Brokers Corp. is acquiring employee benefits consultancy MultiCare Group. The acquisition will allow StoneRidge to provide a full range of insurance, risk advisory and benefits services to employer clients, according to a press release. Adam Lewis, president of MultiCare, will join StoneRidge and Scott Studley has been appointed executive vice-president of the company’s […]
Montreal’s AGA Benefit Solutions is acquiring Markham, Ont.’s J&D Benefits. AGA Benefit Solutions provides the development and administration of customized group insurance plans and specializes in group retirement plans. J&D Benefits offers customized benefits administration services, specializing in multi-provider, flexible benefits and multi-employer platforms. Read: Maple acquiring Wello, CloudMD finalizes MindBeacon deal Todd Rappitt, president of […]
Canadian insurers paid out more than $97 billion in benefits from life and health insurance products in 2020, according to the Canadian Life and Health Insurance Association’s annual fact book. The period, which included the first nine months of the coronavirus pandemic, included $420 million paid out for psychology-related claims to support mental health, up 24 […]
As institutional investors seek portfolio diversification and the insurance industry seeks additional capacity amid global growth, investment strategies incorporating insurance-linked securities are providing a solution for both parties. Insurance-linked securities allow insurers to transfer some of their risk to investors. For example, in the case of catastrophe bonds, the issuer pays a coupon to an […]