The Canada Life Assurance Co. is acquiring ClaimSecure Inc., a health-care management firm that provides health and dental claim management services. The acquisition increases the number of plan members served by Canada Life by 1.25 million individuals, including plan members and their dependants, with annual claims payments of more than $1.2 billion, according to a […]
The Canada Pension Plan Investment Board is investing $1 billion in Amazon.com Inc.’s chief rival in the Indian e-commerce sector. The Flipkart Group, which was founded in 2007, boasted the largest share of India’s e-commerce market in 2020, significantly ahead of its closest rival Amazon. The CPPIB investment is part of a total US$3.6 billion funding round for […]
The coronavirus pandemic has increased health-care costs in the U.S., while shifting how and where employees access care, according to a new report by PricewaterhouseCoopers. It projected that the costs of medical treatment in the U.S. will increase by 6.5 per cent in 2022, slightly lower than this year (seven per cent). “The pandemic’s long […]
The funded position for an average Canadian defined benefit pension plan improved slightly on both a solvency and accounting basis in June, according to a new report by LifeWorks Inc. (formerly Morneau Shepell Ltd.) The average solvency ratio was 109.3 per cent in June, compared to 108.2 per cent in May. On an accounting basis, the average […]
The Canada Pension Plan Investment Board has reached a deal to sell half of its shares of a Washington-based energy company to the Ontario Teachers’ Pension Plan. According to the terms of the deal, the CPPIB will sell half of its 31.6 per cent stake in Puget Holdings to the Ontario Teachers’ and the other […]
The Alberta Investment Management Corp. is appointing James Barber as executive vice-president of public equities, effective July 14. He joins the AIMCo from AMP Investment Partners, where he was co-founder and managing partner. Previously, Barber served as chief investment officer of equities at Russell Investments and held roles at SEI Investments Co. in the U.K. […]
The University of Toronto Asset Management Corp. is appointing Chuck O’Reilly as its next president and chief investment officer. O’Reilly, the UTAM’s senior portfolio manager and head of public equities, is replacing Daren Smith, who held both roles at the $13-billion pension, assets and endowment fund since 2016. Prior to joining the UTAM in 2011, […]
Although vaccinations have been ramping up across the country, almost half (46 per cent) of Canadians who are working from home are anxious about contracting the virus if and when they return to the office, according to a survey conducted by Workplace Strategies for Mental Health on behalf of the Canada Life Assurance Co. The […]
Sun Life Financial Inc. has completed its acquisition of PinnacleCare International Inc., a U.S. health-care navigation and medical intelligence provider. Based in Maryland, PinnacleCare has more than 170 employees and 20 years of experience helping people navigate their care options when facing a serious medical condition. It will become part of Sun Life’s U.S. stop-loss and […]
The 830 locked-out employees at Reliance Home Comfort sites in Ontario are heading back to work after their union ratified a new contract with the company on June 30. The new collective agreement includes two new paid sick days, improvements to the extended health benefits cost-sharing and a one per cent increase to the matching […]