Latest insurance news from Canadian insurers and regulators. Explore auto, home, life, P&C, pet and health insurance, including insurance rates, insights, trends, and breaking insurance news from Canada.
Canada’s reported US Treasury holdings reached $464.6 bn in August 2026, narrowing the gap with China as analysts debate whether foreign investors are using Canadian custodians
RSA Canada’s decision to retire Canadian Northern Shield created insurance capacity challenges in British Columbia, with higher premiums and reduced earthquake and flood coverage
Fairfax Financial plans to transfer its Go Digit insurance holdings and IIFL Capital stake to IDBI Bank following its $5.6 bn bid for a controlling interest in the lender
Fairfax Financial will acquire control of IDBI Bank for $5.6 bn and plans to combine its Indian insurance and financial services holdings under the lender
CatIQ estimates CAD 563 mn ($395 mn) in insured losses from severe storms across southern Ontario, bringing large hail, tornadoes, damaging winds and flooding
CatIQ estimates CAD 313 mn ($219 mn) in insured losses from the Bald Range wildfire in British Columbia, which burned over 10,000 hectares and forced mass evacuations
Pacific Life Re enters the US longevity reinsurance market through a $3 bn transaction with American National Insurance, expanding its global retirement business
Polygrade secures $6.3 mn to expand its AI warranty claims platform, automating diagnosis, authorizations, parts procurement and contractor payments
Fitch maintains Sun Life’s A+ issuer and AA insurer ratings, citing strong earnings, capital adequacy and liquidity despite rising investment risk and leverage
Canada Life plans to invest $10 bn over five years in Canadian infrastructure, energy, transportation and digital assets, subject to investment return targets
Fitch maintains Great-West Lifeco’s A+ issuer rating and AA insurer financial strength ratings, citing strong capital, earnings growth and manageable leverage
Manulife closes a $3.2 bn long-term care reinsurance deal with Munich Re Life US, cutting LTC morbidity sensitivity by 24% across recent transactions
Sun Life expands AI tools for Canadian financial advisors with Notes Assistant and an AI concierge, cutting admin time and speeding access to client information
Thomson Reuters disclosed a C-Track cybersecurity incident affecting court systems across 11 US states, the US Virgin Islands and Canada
Insured losses from June 9-10 storms in Manitoba and Saskatchewan have topped $840 mn after tornadoes, hail, flooding and damaging winds
Fairfax Financial Holdings reported $1.39 bn in net earnings attributable to shareholders for the second quarter of 2026, equal to $63.38 per diluted share
Gallagher acquires Apollo, a Vancouver digital broker and MGA focused on tenant insurance, as Canadian insurance placement shifts further online
BOXX Insurance adds affirmative AI and deepfake coverage for commercial cyber clients as social engineering fraud accelerates
Manulife and PolicyMe expand AI underwriting as 42% of Canadians lack life insurance or remain unsure about their coverage
Alberta homeowners insurance premiums rose 391.6% from 2005 to 2025 as hailstorms, wildfires, floods, and rebuilding costs increased claims
Canadian Council of Insurance Regulators has revised its ombudservices framework to tighten cooperation, improve data sharing, and strengthen consumer dispute resolution
Toronto-based Harmix secured $1 mn to launch Pam, an AI platform built to connect fragmented business data and reduce manual work for SMBs
mShift added BOXX Insurance to its marketplace, giving brokers faster digital access to cyber cover for SMEs through quoting, binding, and issuance tools
Aon said global reinsurance capital reached a record $785bn in 2025, with traditional and alternative capital both climbing as renewal competition increased
Insured losses from the March 2025 ice storm in Ontario and Quebec reached CAD 466mn, sharpening calls for stronger resilience planning across Canada
Canada Life finalises £80m buy-in with Safeway Pension Scheme, securing benefits for 1,800 members as trustees advance de-risking strategy
Toronto-based General Magic secures $7.2m seed round to deploy SMS AI agents that reduce insurance quote time from 30 minutes to under 3
Fairfax Financial reports $4.77bn net earnings in 2025, 20.5% book value growth, $3.2bn investment gains and record underwriting profit across P&C units
The Cayman Islands’ reinsurance sector has expanded sharply, according to 2025 insurance statistics released by the Cayman Islands Monetary Authority and highlighted by Cayman Finance
Global commercial property insurance rates declined 9% in Q4 2025, according to the latest market update from Marsh. The drop marks an acceleration from the 8% decline recorded in Q3
American International Group, Inc. has completed minority investments in Convex and Onex Corporation as part of a $7bn strategic transaction linking the three groups
AIG takes 35% stake in Convex and 9.9% in Onex as Onex gains 63% control, forming strategic partnership with $2 bn capital commitment
Gallagher Re reports a 32% fall in risk-adjusted cyber aggregate excess of loss rates at 1 Jan 2026 renewals as excess capacity and softer terms reshape the market
Marsh Risk increases Nimbus facility limits to $2.7bn for large-scale data center construction projects across major global markets
CatIQ reports CAD 2.4 bn in insured catastrophe losses for Canada in 2025, with ice storms and wildfires driving one of the most active years on record
Definity Financial completed its nearly C$3.3 bn cash acquisition of Travelers’ Canadian personal and commercial insurance businesses, reshaping the country’s P&C rankings
Westland Insurance has acquired PV&V Insurance Centre Ltd. and Meester Insurance Centre, together operating as PV&V Insurance Centre
Beneva finalises its merger with Gore Mutual after regulatory approval, advancing its national expansion and reshaping its Ontario P&C operations
Liberty Mutual secures $150 mn of per-occurrence cat bond cover via Mystic Re IV, expanding protection to severe weather and fire risks
Pawp enters carrier distribution as American Pet Insurance appoints it as an agent, expanding beyond tele-vet into regulated pet insurance
Beneva completes early Guidewire APD conversion for auto insurance, cutting timelines in half and unlocking faster digital product changes
NFP, an Aon company, acquires Hamilton Insurance Agency in Virginia, adding senior housing and long-term care expertise to its P&C platform
Aon’s Impact Forecasting delivers ERN Latin America catastrophe models through Oasis LMF, expanding open modelling options for (re)insurers
Canada Life UK secures benefits for 4,500 members through a £330m full-scheme buy-in with the Comet Pension Scheme backed by Fnac Darty
Experian’s 2026 Data Breach Forecast points to AI-powered attacks, quantum risk, and rising identity fraud as cyber threats grow faster and smarter
A renewed La Niña is fueling floods in Asia, early US snowstorms, and mounting economic losses, with insurers and commodity markets bracing for impact
Navacord and Acera plan a 2026 merger that creates a $7.2bn-premium brokerage with 5,000 staff, 150 offices, and a unified national platform
A winter system dropping across Nova Scotia and parts of New Brunswick this week may bring 15-35 cm of snow inland and in elevated terrain, with coastal zones possibly getting 30-50 mm of rain
PolicyMe partners with Embark to connect RESP planning with digital life insurance, giving Canadian families a fuller approach to long-term financial security
Munich Re finds rising weather-driven losses across major economies, with the US, Germany and India showing sharp jumps in climate-linked financial strain.
Majesco will buy Vitech, adding pension and benefits tech and expanding its AI-driven platform across P&C and L&AH markets
AIG, Berkley, and Great American seek AI liability exclusions as high-profile failures fuel concerns over correlated, system-wide insurance losses
FSRA’s draft rules for life and health MGAs add fees and broad oversight, prompting warnings they could hurt small advisors and limit consumer access
Canada Life finalises a £41 mn buy-in with A.G. Barr’s pension scheme, securing benefits for 300 members and completing their long-term de-risking plan
Ryan Specialty expands in Canada with the acquisition of Stewart Specialty Risk Underwriting, a managing underwriter for high-hazard property and casualty risks
HSB Canada, part of Munich Re, rolls out CyberPro – cyber insurance with claims, monitoring, and risk tools for Canadian firms across multiple industries
Irys raises $12.5mn led by Markd to expand AI-native insurance platform, scale partnerships, and deliver real-time operations across the US and Canada
Marsh McLennan reports reinsurance resilience despite losses and volatility, with $650bn capital projected for 2025 and rate declines across global markets
Bank of America, Goldman Sachs, UBS, Deutsche Bank and others team up to test a G7-currency stablecoin, aiming to merge blockchain with traditional finance
Catastrophic rounds of severe storms continued impacting U.S. and Canadian insurers in mid-September generating losses estimated in the hundreds of millions of dollars
