Life insurance sales spike during pandemic among younger buyers: A growing number of younger Canadians are buying life insurance coverage online as the novel coronavirus pandemic spurs worries about economic uncertainty and puts a spotlight on potential health risks. (Clare O’Hara)
Pandemic boosts premium for private-equity firm’s sale of veterinary clinic chain: A Canadian private-equity company has sold its majority stake in a chain of veterinary clinics in a deal that executives said generated a hefty return because of the business’s ability to boost earnings during the COVID-19 pandemic. (Jeffrey Jones)
Ontario Teachers’ Pension Plan buying stake in New Zealand medical laboratory testing company: The Ontario Teachers’ Pension Plan (OTPP) is buying a 50-per-cent stake in New Zealand medical laboratory testing company Asia Pacific Healthcare Group (APHG), the latest of several investments targeting the health-care industry. (Yeji Jesse Lee)
CI Financial’s U.S. wealth business to grow by 70 per cent with acquisition of Illinois based BDF: Money manager CI Financial Inc. is continuing its aggressive and rapid U.S. expansion with a deal that will increase its assets there to more than US$11-billion. (David Milstead)
Dragon to the rescue: Michele Romanow and partner launch new venture to source PPE during pandemic: Dragons’ Den star Michele Romanow and business partner Anatoliy Melnichuk set out to do a good deed when they went looking for scarce personal protective equipment in late March as the COVID-19 pandemic spread. (Sean Silcoff)
U.K. tech investment fund chooses Canada for North American headquarters: A U.K.-based investment fund that specializes in developing ultra-early-stage tech companies by backing individual entrepreneurs directly is launching operations in North America with a new office in Toronto. (Yeji Jesse Lee)
Former BMO CEO Tony Comper revamps charity focused on anti-Semitism: An educational organization launched by former Bank of Montreal chief executive officer Tony Comper and his late wife, Elizabeth, to combat anti-Semitism in Canada is bringing in new leadership as incidents of discrimination and hate in the community continue to rise. (James Bradshaw)
BMO signs deal to offer digital chequing accounts in U.S. through Google Pay: Bank of Montreal has signed a deal with Google to offer digital chequing accounts in the U.S. through Google Pay, the technology giant’s mobile payment app, as banks increasingly cozy up to Silicon Valley to head off the threat of digital disruption. (James Bradshaw)
Halifax startup Groundhog sues U.S. company, claiming it stole trade secrets: Halifax financial-tech startup Groundhog has filed a lawsuit against a Brooklyn blockchain company founded by one of the pioneers of popular cryptocurrency ethereum, alleging it stole trade secrets and developed a crypto-payment product that undercut Groundhog’s own. (Josh O’Kane)
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