Three corporate notices: two amalgamations, capital reduction

Summary#

The Canada Gazette published three corporate notices: two proposed amalgamations of insurance companies and one planned reduction of stated capital for a trust company. The notices say the moves are subject to regulatory approval and give proposed dates and amounts, but publication does not mean approval has been granted.

What it does#

• BMO Life Insurance Company and BMO Life Assurance Company say they will apply under the Insurance Companies Act (Canada) for letters patent to combine into a single company called BMO Life Assurance Company (English) / BMO Société d’assurance-vie (French). They plan to file on or after July 28, 2025, and name November 1, 2025 as the proposed effective date (or another date set by the letters patent). The amalgamated company’s head office would be in Toronto, Ontario.
• Fiduciary Trust Company of Canada intends to apply to the Superintendent of Financial Institutions (Canada) under the Trust and Loan Companies Act (Canada) to reduce the stated capital of its common shares by up to $22.0 million. A special resolution approving this was passed by the sole shareholder on June 13, 2025. The company says its CFO will pick the exact amount within that limit.
• Royal & Sun Alliance Insurance Company of Canada, Intact Insurance Company, and 13130100 Canada Inc. plan to apply under the Insurance Companies Act (Canada) to amalgamate and continue as Intact Insurance Company (English) / Intact Compagnie d’assurance (French). They expect to file on or after July 14, 2025, with a proposed effective date of January 1, 2026. A report from the independent actuary will be made available to policyholders on request (Corporate Secretary, 700 University Avenue, Suite 1500‑A, Toronto, Ontario M5G 0A1).

Who's affected#

• Policyholders of BMO Life Insurance Company, BMO Life Assurance Company, Royal & Sun Alliance Insurance Company of Canada, and Intact Insurance Company — they may receive notices or be able to review the actuary’s report in the Intact/Royal & Sun case.
• The sole shareholder of Fiduciary Trust Company of Canada, since the planned reduction would distribute up to $22.0 million to that shareholder.
• Employees, agents, or service providers of the companies may be affected in practical ways, but the notices do not detail operational changes.
• It is unclear from the notices whether individual policy terms, premiums, claim handling, or customer-facing services will change.

Why it matters#

• Amalgamation is a legal merging of companies. If approved, it can simplify corporate structure, change who legally holds policies, and shift where administrative work is done. Customers should watch for any direct notices from their insurer about changes to billing, claims, or contacts.
• The planned $22.0 million reduction of stated capital at Fiduciary Trust Company of Canada would return money to its sole shareholder if approved. That could affect the company’s capital position, but approval is not guaranteed and the notice does not say how this would affect customers or operations.
• All items are conditional on regulatory approval. Publication in the Gazette is informative, not final approval — people who might be affected should look for follow-up notices or direct communication from the companies or regulators.