In accordance with its plans to concentrate on p/c insurance in Canada, CGNU, the U.K.’s largest p/c insurer, announced the sale of two Canadian life units.
Manulife Financial has acquired the former CGU subsidiary Commercial Union Life for around 拢62 million ($92 million), and AIG has agreed to acquire another subsidiary, Norwich Union Holdings (Canada), for £71 million ($106 million).
CGNU has previously sold its U.S. p/c business to White Mountains Group, but plans to follow the opposite strategy in Canada, where it will concentrate on that sector rather then life insurance.
Was this article valuable?
Here are more articles you may enjoy.
Big I: Independent Agencies’ Market Share Up Slightly in 2025 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
DeSantis Signs Citizens Commercial Clearinghouse Bill That’s Been Called ‘Unneeded’ 
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
