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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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AFL

Biologics weigh on group plans

IDC Worldsource acquires AFL Financial Group

Synex acquires another group insurance firm

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CANADA LIFE

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Great-West's earnings down by 24 per cent in 2023

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GREAT-WEST LIFECO

Commercial real estate adversely affects insurers’ 2023 financial results

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

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Canada Life exits residential mortgage market

GROUPE CLOUTIER

Advisor makes her mark in planned giving insurance

Employment Insurance sickness benefit period increasing

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

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HUB

Hub acquires Ontario-based firm

AGA Benefit Solutions has a new majority shareholder

Desjardins expands Quebec distribution through managing general agency

HUB makes acquisition in Ontario

IDC WORLDSOURCE INSURANCE NETWORK

Desjardins’ insurance surplus earnings up 286 per cent in 2023

Managing General Agency bets on share ownership to win advisors

Industry association attracts 18 new members

Desjardins’ income falls 24 per cent in first quarter

INTACT

New tool available to help municipalities mitigate flood risk

BrokerLink closes three transactions

Intact's profit declined 46 per cent in 2023

Ontario insurance regulator fines wellness centre and principals for fraud

PPI

Sam Albanese: A leader who will be missed

PPI appoints new president

AGA Benefit Solutions acquires Vancouver firm

MIB acquiring the APEXA compliance platform

RSA

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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

SUN LIFE FINANCIAL

Insurers coordinate to execute annuity buy-out deal for Ford of Canada

Sun Life earnings up 11 per cent in 2023

BMO Insurance considers higher profile going forward

Several new developments in permanent life insurance

NAVACORD

Navacord announces its third acquisition of 2024

Navacord acquires brokerage in Southwestern Ontario

Navacord makes acquisition in Manitoba

Navacord acquires two firms in March

AGA

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AGA acquires Ontario group insurance provider

Another very profitable quarter for iA Financial Group

AGA buys PPI Benefits and targets the Canadian market

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

Pension funding rises in March

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iA Financial acquires Laurentian Bank’s full-service brokerage division

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Strategy

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Mergers and acquisitions

Insurer divests U.S. business to focus on Canada

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Desjardins to fully own ICPEI

People Corporation acquires Nexim Canada

Economy

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COVID19

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