While the economy was severely affected by the pandemic in 2020, the following year was synonymous with recovery and new strategies for many players. This year has already been marked by higher results, new hires, and even acquisitions. insurance portal He invites you to read or re-read the 10 most-read articles on his site over the past 12 months.
Insurance company records profits despite the epidemic
born of fusion Capital Based on SSQ Lock, the company generated a consolidated net profit of US$276.4 million (US$1 million) for the 12 months of 2020. The consolidated result of Beniva Thus, it increased by 21.5%. The excellent financial results for the year 2020 guarantee a promising future. It proves the value of our group and validates our long-term vision,” he announced Jean Francois Chalevo, Chairman and CEO of Beneva Corporation, in connection with the disclosure of these findings.
The company provides an update on contribution limits for registered plans
Group Premium Company GRMF Publication of a prospectus outlining contribution limit increases for registered plans. If the limits of RRSP, VRSP and PRPP increase, the Tax-Free Savings Account (TFSA) will still be at $6,000 in 2021.
Another insurance company to shrink in 2020
for the year 2020 iA Financial Corporation The company generated healthy profits compared to 2019. The company recorded net income attributable to common shareholders of $611.2 million ($1 million) for 2020, up from $687.4 million in the previous year. The drop of 11.1%, or $76.2 million, was “primarily attributable to losses from the Segregated Funds Collateral Hedge Program (Hedge Program), which was adversely affected by high volatility in the markets,” said iOS.
New Director of Caisse de dépôt et placement du Québec
On May 12, 2021, the Minister of Finance of Quebec Eric Gerard Announcing the appointment of the Chairman of the Board of Directors of Beneva, Jean Saint Gillies, as responsible for the board of directors Quebec Depository and Investment Fundagainst. This is the former CEO ofFinancial Markets Authority And so it replaces Robert Tessier.
The relationship between small and medium businesses and financial institutions has been studied
11,600 small business owners expressed satisfaction with their financial institutions in four categories: finance, fees, account managers, and service. According to a survey conducted by Canadian Federation of Independent Business (FCEI), savings and loan cooperatives, and regional banking institutions serve better SMEs than large banks.
Damage insurance pays more for this insurer
for the year 2020 Desjardins group It reported a pre-distribution surplus of $2.4 billion ($1 billion) in 2020, compared to $2.6 billion in 2019. This consolidated result was impacted by lower wealth management and the life and health insurance segment. On the contrary, it has been driven by reported results in the property and casualty insurance segment, mainly due to “changes in driving habits attributed to the COVID-19 pandemic,” Desjardins explains.
Movement in Quebec for these insurance companies
In September, the authority unveiled two orders in Antipodes. from direction, Professional Insurance Company XL An intrusion insurance product has been approved to be added to the license to practice. On the other handThe Merchant Backpackers Association of America Request the complete revocation of his license to practice in Quebec.
$1.05 billion financing round
in March , Navaccord It executed a funding round with an American investment company and thus raised $1.05 billion. This amount is intended to refinance other loans, to acquire other companies, with the stated goal of reaching the size of the installments of $ 3 billion by the end of 2021.
First billion dollar acquisition
Also in March 2021, Constellation Insurance Collectibles She announced that she got it Ohio National Mutual Holdings For one billion US dollars (one billion US dollars). The deal took two years and was backed by Deposit and Placement Fund of Quebec (CDPQ) and Ontario Teachers Pension Plan (RREO).
Non-life insurance continues to earn more
In the second quarter of 2021, the Desjardins Group again announced an increase in net profit surplus for the insurance and risk insurance segment, by 1,962.5%, or $314 million. In doing so, Desjardins announced surplus earnings before member dividends of $935 million ($1 million) in the second quarter of 2021, compared to $529 million in the second quarter of 2020.
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