ARAG Canada seeks to establish insurer

Summary#

ARAG Canada Holdings Ltd. says it will apply to incorporate a new insurance company under the Insurance Companies Act. The firm plans to file on or after October 4, 2026 to create an insurer to sell legal expenses insurance and similar products; objections can be sent to the regulator by November 3, 2026.

What it does#

• Announces an intended application (under subsection 25(2) of the Insurance Companies Act) to have the Minister of Finance issue letters patent to create a Canadian insurance company.
• The new insurer would operate under the English name ARAG Canada Insurance Ltd. and the French name Compagnie d’assurance ARAG du Canada ltée.
• The proposed head office will be in Toronto, Ontario.
• The application is to be filed with the Office of the Superintendent of Financial Institutions on or after October 4, 2026.
• People who object can send written objections to the Office of the Superintendent of Financial Institutions on or before November 3, 2026.
• The notice says publication does not guarantee the Minister will approve the letters patent; approval depends on the normal review process and the Minister’s decision.

Who's affected#

• People and businesses that buy or sell legal expenses insurance in Canada — they may get a new provider or product options.
• Competitor insurance companies and brokers who work in legal expenses or related coverages.
• The Office of the Superintendent of Financial Institutions and the Minister of Finance, because they handle and decide on the application.
• Members of the public or organizations who want to object to the incorporation — they must submit objections by November 3, 2026.

Why it matters#

• If approved, this would add a new insurer offering legal expenses insurance in Canada, which could increase choice for consumers and businesses needing that coverage.
• It’s a routine step in opening a new insurance company, and the notice gives the public a chance to raise concerns before final approval.