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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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AFL

Biologics weigh on group plans

IDC Worldsource acquires AFL Financial Group

Synex acquires another group insurance firm

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CANADA LIFE

Great-West: Net income declines in first quarter 2023

Canada Life launches Advisor Workspace to replace RepNet

Denis Ricard: From jazz to insurance leadership

Regulator revokes agent and corporate insurance licenses for unsuitable conduct

GREAT-WEST LIFECO

Great-West maintains net earnings at $3.2 billion

Great-West Lifeco promotes chief actuary

Great-West Lifeco's net earnings down 21.1 per cent

Great-West Lifeco posts second quarter net earnings of $735 million

GROUPE CLOUTIER

Employment Insurance sickness benefit period increasing

Disability insurance: How do 16 products from seven providers stack up?

Advisors need ESG training

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HUB

Hub International gets new private equity investor

Details emerge about TruStone’s separation from BridgeForce

Hub Financial acquires BridgeForce

Hub International names new executive

IDC WORLDSOURCE INSURANCE NETWORK

Phil Marsillo calls on MGAs to mobilize

Christian Laroche stepping down from helm of IDC Worldsource Quebec

Desjardins acquires Worldsource companies from Guardian

MIB acquiring the APEXA compliance platform

INTACT

Intact and RSA exit personal lines motor market

Intact offloads United Kingdom pension risks with £6.5-billion annuity deal

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Intact’s net income and premiums grow in 2022

PPI

PPI appoints new president

AGA Benefit Solutions acquires Vancouver firm

AGA acquires Ontario group insurance provider

Another very profitable quarter for iA Financial Group

RSA

Aviva Canada announces new chief financial officer

Swiss Re appoints new senior vice president

RSA acquisition fuels growth in Intact’s Canadian business

Intact’s net income down 13 per cent

SUN LIFE FINANCIAL

Sun Life divests United Kingdom pension and annuity business

Dealing representative fined for unauthorized redemption

Guaranteed withdrawal benefit plans pivotal for retirement planning

Insurance council bans rep for five years for borrowing money from clients

NAVACORD

Navacord acquires two firms in March

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Navacord announces another acquisition

Navacord acquires Insurance Store

AGA FINANCIAL GROUP

AGA buys PPI Benefits and targets the Canadian market

Merger with Wagner Bujold Leduc: AGA adds shareholders

Pandemic will lead to changes in group insurance

AGA Benefit Solutions announces tech partnership

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

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

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

Investment

Mutual fund net assets increase despite investor net redemptions

Ontario regulator publishes three-year business plan

British Columbia regulator to issue penalties without hearings

Mutual fund categories hammered by net redemptions

Strategy

Firms join forces to advocate for single digital identity

Canadian Gen Z investors earlier to the investment game than their older cohorts

Company launches specialized conversational agent in the insurance field

Investment Funds Institute of Canada prepares for annual Operations Day

Mergers and acquisitions

Definity subsidiary acquires leading broker in Ontario

Equisoft secures $125 million in financing

BCH: Green Shield’s gateway to serve Quebecers in outlying regions

Teachers partners with Canadian newcomer to offer guaranteed final expenses insurance

Economy

ABC Life Literacy Canada expands financial learning offering for families

Blue Cross curbs sales of three individual products

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COVID19

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10 notable acquisitions from 2021

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