The Canadian insurer already owns majority stakes in two real estate investment managers, both of which are pushing to manage more buildings that house artificial intelligence machinery. BentallGreenOak launched an effort to develop major hyperscale data centres in Europe in the third quarter, while InfraRed Capital Partners agreed to buy Rogers’ data centre business. (The Logic)
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The Canadian insurer already owns majority stakes in two real estate investment managers, both of which are pushing to manage more buildings that house artificial intelligence machinery. BentallGreenOak launched an effort to develop major hyperscale data centres in Europe in the third quarter, while InfraRed Capital Partners agreed to buy Rogers’ data centre business. (The Logic)
Talking point: Sun Life is betting that AI infrastructure could help offset an otherwise tough insurance market. Its shares fell more than three per cent after executives on its third-quarter earnings call said that U.S. customers were using more dental benefits amid fears of losing Medicaid coverage and rising health-care costs. But CEO Kevin Strain said the company’s asset management businesses, which includes the real estate portfolios, is becoming an “important growth engine” for the future of the financial services firm. Infrastructure projects have long been a popular investment for U.K. and EU insurers, and regulatory changes in Canada are encouraging insurers to pursue the same strategy.
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