Reforms follow a review that found shortcomings in existing arrangements
NFP had recently expanded its wealth management capabilities
Regulator's new guidance to take effect in May 2024
More frequent, intense disasters pose a long-term threat
The sales is expected to close in the third quarter
The plan sets out how the P&C insurer aims to convert to a public company from one owned by its policyholders
The State Farm Canada operations acquired almost three years ago will be rebranded as Desjardins Insurance beginning next May
The sale will net US$900 million of after-tax profit
There are no plans to close or relocate any of Western’s existing 157 locations or affiliates
AIG, XL Group and Chubb had a combined market share of approximately 40% as of the end of 2016, new Fitch report finds