CIBC sells insurance units

Article Abstract:

Quebec City, Que.-based Desjardins Laurentian Financial Corp. will acquire two home and auto insurance units from Canadian Imperial Bank of Commerce for $330 million. CIBC, which is led by chairman John Hunkin, sold its life insurance operations in 1999.

Life Insurance, Direct Life Insurance Carriers, Fire, marine, and casualty insurance, Auto Insurance, Insurance industry, Life insurance industry, Canadian Imperial Bank of Commerce, Automobile insurance, Desjardins Laurentian Financial Corp.

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CT's MasterCard attracts buyers

Article Abstract:

Toronto Dominion Bank will sell the MasterCard business owned by CT Financial Services Inc. following its $7.8 billion acquisition of CT parent company Canada Trust Co. Potential buyers of CT Financial include Loblaw Companies Ltd.

Grocery Stores, Supermarkets and Other Grocery (except Convenience) Stores, NONDEPOSITORY INSTITUTIONS, Nondepository Credit Intermediation, Nonbank Credit Institutions, Financial services industry, Financial services, Grocery industry, Financial institutions, Loblaw Companies Ltd., Canada Trust Co., CT Financial Services Inc.

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Canada Life, TD unveil asset swap

Article Abstract:

Toronto Dominion Bank (TD Bank) has reached a deal to exchange its group savings business for Canada Life Assurance Co.'s property and casualty insurance business.

Savings Institutions, Savings banks, Canada Life Assurance Co.

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