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Desjardins Group
Canadian P&C consolidation will leave only “a few tables left”: broker
June 25, 2018 by Greg MeckbachLook for consolidation to continue within the Canadian property and casualty insurance industry, senior industry executives predicted at a recent conference. Also, expect insurers to take on a greater role in distributing the products. Speaking about consolidation, Adam Mitchell, the…
Wawanesa subsidiary acquires Western Financial Group
November 5, 2017 by Canadian UnderwriterTrimont Financial Ltd., a subsidiary of the Wawanesa Mutual Insurance Company, announced on Wednesday the formal closing of its previously announced agreement to purchase Western Financial Group and Western Life Assurance (collectively “Western”) from Desjardins Financial Corporation, a Desjardins Group…
The Co-operators, Desjardins Group to invest in new Canadian Co-operative Investment Fund
October 16, 2017 by Canadian UnderwriterCanadian co-operatives and mutuals have committed $25 million to establish the Canadian Co-operative Investment Fund (CCIF), which will provide financing for new and expanding Canadian co-operatives in Canada. The $25 million in committed investment to date is the threshold agreed…
Loblaw to keep operating PC Financial home & auto brokerage after ending banking relationship with CIBC
August 17, 2017 by Canadian UnderwriterPC Financial Insurance Broker Inc. – which places home and auto insurance in Ontario, Alberta and Atlantic Canada – will continue to be owned and operated by grocery and drug retailer Loblaw Companies Ltd., a PC Financial spokesperson told Canadian Underwriter Wednesday.
President’s Choice Bank, a Loblaw unit, announced Wednesday it has ended its 20-year relationship with the Canadian Imperial Bank of Commerce.
“Everyday banking products, including savings, chequing and mortgage accounts, previously offered under the President’s Choice Financial brand will continue to be provided by CIBC, under new branding…
New State Farm Canada app includes telematics and water detection programs, account access
June 5, 2017 by Canadian UnderwriterState Farm Canada announced on Monday that it has released a new app that includes telematics and water detection programs, as well as easy account access. The free State Farm Canada App, available on Apple’s App Store and Google Play,…
Desjardins Group and the Desjardins Group Pension Plan invest more than $1 billion in renewable energy and clean technologies
April 24, 2017 by Canadian UnderwriterDesjardins Group and the Desjardins Group Pension Plan (DGPP) announced on Friday that they have invested more than $1 billion in renewable energy and clean technologies. The financing came from Desjardins Group’s Capital Market Division and equity investments from the…
Desjardins’ acquisition of Western Financial caused ‘headaches’ for brokers: Baker
April 19, 2017 by Canadian UnderwriterIf Trimont Financial Ltd. acquires Western Financial Group, Desjardins Group officials will have “more time to focus on further integrating State Farm,” MSA Research Inc. suggested in a recent report released Tuesday. “Slowly but surely, the complexion of the industry…
Intact reports Q1 cat losses of $88 million, aims to double direct-to-consumer business in ‘near term’
April 7, 2017 by Canadian UnderwriterIntact Financial Corp. recently reported its catastrophe losses, net of reinsurance, were $88 million for the first three months of 2017. Toronto-based Intact also says it wants to “double” its direct-to-consumer business in the “mid-term” and is nominating Sylvie Paquette,…
Desjardins General Insurance Group reports combined ratio of 62.1% for the fourth quarter of 2016, down 25.9 points from Q4 2015
February 28, 2017 by Canadian UnderwriterDesjardins General Insurance Group (DGIG), a Desjardins Group subsidiary specializing in property and casualty insurance, has announced a combined ratio excluding market yield adjustment (MYA) of 62.1% for the fourth quarter of 2016, down 25.9 percentage points from 88% in…
Wawanesa subsidiary Trimont Financial to acquire Western Financial Group and Western Life Assurance from Desjardins Group
February 16, 2017 by Canadian UnderwriterTrimont Financial Ltd., a subsidiary of The Wawanesa Mutual Insurance Company, announced on Thursday that it will acquire Western Financial Group and Western Life Assurance (together as Western) from Desjardins Financial Corporation, a Desjardins Group subsidiary, for a total transaction…
Economical Insurance completes acquisition of Canada’s largest pet insurer
January 3, 2017 by Canadian UnderwriterEconomical Mutual Insurance Company announced on Tuesday that is has completed its previously announced acquisition of Western Financial Insurance Company (WFIC) and its flagship brand Petsecure from Desjardins Group. Concurrent with the acquisition, WFIC changed its legal name to Petline…
Patrick Bieleny appointed president and CEO of Western Financial Group
August 17, 2016 by Canadian UnderwriterWestern Financial Group and its board of directors announced on Wednesday that Patrick Bieleny has been appointed as the organization’s president and chief executive officer. Bieleny (pictured left) succeeds Paul Taylor, who retired on July 4, Western Financial Group said…