Global health service provider Cigna Corp. is acquiring Express Scripts Holding Co. in a deal valued at $67 billion. The stock and cash transaction includes Cigna’s assumption of about $15 billion in debt held by Express Scripts. Upon closing, Cigna shareholders will own about 64 per cent of the combined company and Express Scripts shareholders will own […]
Global insurance brokerage Hub International Ltd. has acquired the shares of GMS Insurance (SWO) Inc., a Kitchener, Ont.-based benefits consulting firm. Providing services to the southwestern Ontario and greater Toronto area, GMS Insurance works with a number of companies ranging from small startups to large national or international organizations. The company didn’t disclose the terms […]
Scotiabank is acquiring independent investment firm Jarislowsky Fraser Ltd. for approximately $950 million. The transaction will create the third-largest active asset manager in Canada with $166 billion in managed assets, according to a press release. The purchase will be made mostly through the issuance of Scotiabank common shares, and the company will offset the dilution of them […]
Financial Horizons Inc. has acquired Abex Central Financial Services Ltd. Founded in 2006, Abex Central is a managing general agent based in Barrie, Ont. The company will keep its office in Barrie, as well as key members of its team. “This acquisition is another step in the strategic growth of Financial Horizons Group as the leading […]
Sun Life Global Investments Inc. has completed its purchase of Excel Funds Management Inc. and Excel Investment Counsel Inc. The company originally announced the acquisition of Excel Funds, an investment manager that specializes in emerging markets funds, in September and completed the purchase on Jan. 2, 2018. Read: Sun Life subsidiary to acquire emerging market manager The […]
Aon has completed its acquisition of the Townsend Group, a U.S.-based investment management and advisory service provider with a focus on real estate and real assets. “We are excited to welcome the Townsend organization into Aon and further enhance our investment solutions in areas that are of increasing importance to our clients,” said Cary Grace, chief executive officer […]
Sun Life Global Investments Inc. has entered into an agreement to acquire Excel Funds Management Inc. and Excel Investment Counsel Inc. The investment manager, which specializes in emerging market funds, has about $700 million in assets under management. According to a press release, the acquisition will add Excel’s exchange-traded funds to Sun Life’s capabilities. “We […]
Great-West Life Assurance Co.’s European subsidiary the Canada Life Group Ltd. is acquiring financial services provider Retirement Advantage. Based in Britain, Retirement Advantage was created in 2015 when funds managed by TDR Capital LLP merged the retirement income and equity release divisions of MGM Advantage Life Ltd. and Stonehaven Equity Release. The company has more […]
The Great West Life Assurance Co. has completed its acquisition of Canadian managing general agency Financial Horizons Inc. Initially established as a financial planning firm in 1990, Financial Horizons now provides life, health, employee benefits, pension, investments, structured settlements and risk management products and services to financial advisors. It serves customers across Canada through a network of 6,600 […]
Caisse de dépôt et placement du Québec is helping Cogeco Communications Inc. acquire a network of cable systems in the United States with an equity investment of US$315 million. In return, the institutional investor will gain a 21 per cent interest in the Canadian communications company’s subsidiary, Atlantic Broadband, which is the ninth-largest cable operator […]