The Global Risk Institute in Financial Services (GRI) announced Dec. 13 that Sonia Baxendale will be its new President and CEO, effective Jan. 7, 2019. Baxendale succeeds Richard Nesbitt who is retiring as an officer and a director. Toronto-based GRI is a think tank for the management of risks in financial services. It is a non-profit, public and private partnership with 32 government and corporate members
The RBC Economic Outlook Report released Dec. 12 projects Alberta's growth to decline to 1.5 per cent in 2019, from 2.4 per cent this year. Oil production cuts related to pipeline constraints and volatile oil and gas revenues will contribute to this slowdown. "The oil production cut could lower GDP growth in Alberta by as much as a percentage point relative to
The Co-operators announced Dec. 13 that eligible group plan members will be able to access therapist-guided, internet-based cognitive behavioral therapy (iCBT) through their extended health care coverage as of January. The new service will be offered through The Co-operators by Morneau Shepell. “We’re proud to be one of the first group benefits providers to offer iCBT in our extended health care coverage,”
CI Financial Corp. and WealthBar Financial Services Inc. announced Dec. 14 that they have reached an agreement under which CI Financial will acquire a majority stake in WealthBar, an online wealth management and financial planning platform. "WealthBar has developed a best-in-class digital advice platform with industry-leading tools and services and a superior client experience," said Peter W. Anderson, Chief Executive Officer of CI Financial.
National Bank Insurance has teamed up with Canadian insurtech Breathe Life to provide consumers with the ability to buy a new term life insurance product online – even from their smartphones. The new product features an integrated single-session quote creation and application process for up to $30,000 coverage in the event of a critical illness diagnosis and up to $750,000 coverage eligibility. “For
The Insurance Journal looks back at 10 major transactions that occurred over the last 12 months. iA acquires an MGA iA Financial Group acquired PPI Management, one of the largest managing general agencies supporting independent advisors in Canada. iA stated it is committed to preserving the independence of PPI as a marketing organization representing and promoting the products of all major Canadian insurers.
Hub International announced Dec. 17 that it has acquired the employee benefits practice of Vancouver-based Rise People Inc. (Rise). Hub also announced that it will collaborate with Rise People to bring Rise’s human resources, time tracking, payroll and benefits administration solution to Hub's employee benefits clients in Canada. Rise decided to sell its employee benefits practice to Hub and focus on accelerating the development of
The association representing portfolio managers in Canada is asking the Canadian Securities Administrators(CSA) not to lump funds sold to sophisticated investors with those sold to average investors. In a submission to the CSA on its request for comment on proposed amendments to National Instrument 81-105, the Portfolio Management Association of Canada (PMAC) says it stands for the highest standard of unbiased portfolio management