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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

Distribution: Insurance Supermarket International embraces full digital shift

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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

LIMRA’s critical illness insurance results: Captive agents on fire!

Advisor support: The key to critical illness sales

In-force business: Data providers still missing

Insurance CEOs discuss outlook at recent financial summit

GREAT-WEST LIFECO

Great-West Lifeco latest company to be targeted by Obatan

Great-West Lifeco sells Putnam to Franklin Templeton

Great-West: Net income declines in first quarter 2023

Great-West maintains net earnings at $3.2 billion

GROUPE CLOUTIER

Employment Insurance sickness benefit period increasing

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HUB

Hub International acquires Ontario cannabis insurance brokerage

Hub International acquires commercial transportation specialists

HUB partners to bring pet insurance to Canada

Hub International gets new private equity investor

IDC WORLDSOURCE INSURANCE NETWORK

Desjardins’ income falls 24 per cent in first quarter

Phil Marsillo calls on MGAs to mobilize

Christian Laroche stepping down from helm of IDC Worldsource Quebec

Desjardins acquires Worldsource companies from Guardian

INTACT

Key indicators at the heart of IFRS 17 standard

Inflation and theft pressuring auto insurance profitability

PC Insurance and Loblaw aim to expand in auto and home Insurance

Definity releases catastrophe estimates for July and August

PPI

PPI appoints new president

AGA Benefit Solutions acquires Vancouver firm

MIB acquiring the APEXA compliance platform

AGA acquires Ontario group insurance provider

RSA

Intact and RSA exit personal lines motor market

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

Intact’s net income and premiums grow in 2022

Aviva Canada announces new chief financial officer

SUN LIFE FINANCIAL

Group insurance: Desjardins launches fertility-related offer

Former agent banned by two separate regulators for borrowing money

Report quantifies the cost of menopause to women and employers

Offer to pay off client ends in sanctions

NAVACORD

Navacord acquires two firms in March

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AGA FINANCIAL GROUP

Another very profitable quarter for iA 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

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

Safe haven assets gain prominence amid economic slowdown

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Strategy

Proactive approach to change drives revenue growth

AM Best says artificial intelligence not to blame for recent layoffs

Canada Revenue adds dental care plan reporting to T-slips beginning in 2023

Insurance association calls on physiotherapists’ association to amend proposed standards

Mergers and acquisitions

Actuarial firm acquires MSA Research

iA Financial subsidiary acquires U.S. insurance carrier and digital agency

Trade credit insurance companies join forces to build capacity

Westland announces expansion into other provinces

Economy

Analysis suggests Alternative Minimum Tax reforms will affect charities

Tax pressures, shifting landscape forcing more family businesses to change hands

Swiss Re calls the insurance industry resilient

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COVID19

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10 notable acquisitions from 2021

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