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10 notable acquisitions from 2021

By The IJ Staff | Jan. 4, 2022, 10:35 a.m.

Photo: Freepik

The COVID-19 pandemic has not stopped the consolidation trend underway in the insurance industry. Insurance Portal is highlighting ten transactions that captured attention over the last twelve months.

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Headlines

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Auto theft figures dip but remain well above historical levels

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TRYG

Intact company co-owned by Tryg to sell Danish business

Intact, Tryg A/S complete acquisition of RSA Insurance

RSA was not seeking a buyer

10 major transactions from 2020

IDC WORLDSOURCE INSURANCE NETWORK

Groupe Cloutier brings in insurer as a minority shareholder

IG Wealth Management aims to make its mark in life and health insurance

Licensing for managing general agencies: the consultation period ends

Desjardins’ insurance earnings jump in the first quarter

AGA

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AGA Benefit Solutions has a new majority shareholder

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Employment Insurance sickness benefit period increasing

SUN LIFE FINANCIAL

Critical illness insurance: cancer and heart attack dominate claims

Economic uncertainty fails to dampen Canadian life insurers' performance

Global healthcare reinsurance premiums continue to rise

Sun Life's net income down slightly in the second quarter

HUB

Hub International continues on acquisition path

Quebec-based AGA partners with Saskatchewan-based mutual fund broker

Hub acquires Ontario-based firm

Desjardins expands Quebec distribution through managing general agency

AFL

Biologics weigh on group plans

IDC Worldsource acquires AFL Financial Group

Synex acquires another group insurance firm

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CANADA LIFE

Canadians struggling with burnout are less likely to view their employers favourably

Novo Nordisk's new anti-obesity drug spurs high demand

Great-West Life’s net earnings rise by 77%

Age makes all the difference for 20-year term insurance

DENTAQUEST

Sun Life reports second quarter net income of $785 million

Sun Life completes acquisition of DentaQuest

Sun Life acquires leading U.S. dental benefits firm

INTACT

A strong first half for four Canadian property and casualty insurers

Jasper wildfire drives insured losses even higher

Intact nearly triples profit in Q2 2024

Insurers defend their climate transition plans

GROUPE CLOUTIER

Advisor makes her mark in planned giving insurance

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GREAT-WEST LIFECO

Great-West earnings up 61 per cent for the first quarter of 2024

Commercial real estate adversely affects insurers’ 2023 financial results

Leadership change for Canada Life's Canadian operations: Jeff Macoun to retire

Canada Life exits residential mortgage market

RSA

Intact's profit declined 46 per cent in 2023

Ontario insurance regulator fines wellness centre and principals for fraud

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Intact and RSA exit personal lines motor market

NAVACORD

Navacord expands group benefits business with acquisition in British Columbia

Navacord completes ninth acquisition of 2024

Navacord acquires travel insurance brokerage

Navacord announces its third acquisition of 2024

MULTI COURTAGE

Groupe Cloutier acquires Multi Courtage

Quebec MGAs being slapped with multimillion-dollar HST tab

Quebec distribution law revision: Guy Duhaime denounces pressure from the AMF and large financial institutions

Quebec life insurance distributors stand united in opposition to direct Internet sales

CLAIMSECURE

Canada Life and ClaimSecure introduce new offering

Canada Life closes ClaimSecure acquisition

Canada Life to acquire ClaimSecure

PPI

Sam Albanese: A leader who will be missed

Managing General Agency bets on share ownership to win advisors

PPI appoints new president

AGA Benefit Solutions acquires Vancouver firm

Investment

Defined benefit pension plans hold their own in the third quarter of 2024

Investment industry contributed 2.1 per cent to national gross domestic product in 2023

New mortgage rules likely to boost insurance market

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Strategy

CEOs say environmental, social and governance issues are their top priority

Individual advice rules are hampering household planning

Many companies unaware of legislated cyber obligations

Ontario consults on auto insurance reforms

Mergers and acquisitions

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Desjardins reports 152% surge in insurance surplus earnings for the second quarter

iA Financial Group reports 5% increase in net income for second quarter of 2024

Average insurtech deal doubles in size

Economy

Life and health insurers paid out a record amount in benefits in 2023

Debt rises but insurance protection fails to keep pace

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Competition for private assets expected to intensify

COVID-19

More nurse practitioners needed to work in primary care

Artificial intelligence usage increases among Canadian businesses

Pandemic-related excess mortality expected to linger for years

Seniors least likely to have dental insurance