The financial services and insurance firm is on the lookout for buying opportunities in the property and casualty insurance industry, as it continues to expand its growth across the country, chief executive Guy Cormier said in an interview with The Logic. “We have capital to deploy,” Cormier said. (The Logic)

Talking point: Consolidation in the Canadian P&C industry has been front of mind for the last decade, Cormier said. The sector’s stagnant growth and competition from U.S. firms have made striking deals a crucial way to grow market share in Canada. In 2023, there were 108 publicly announced mergers and acquisitions in the Canadian brokerage market, a continuation in the industry’s steady uptick since 2020, according to a report from Smythe LLP. Desjardins is once again on the hunt after closing a series of deals last spring, including The Insurance Company of P.E.I., and Guardian Capital Group. Desjardins made a “strategic move” to sell off a minority stake in asset management company Fiera Capital in June, Cormier said.