Alan CA Inc. to become federal life insurer

Summary#

Alan CA Inc. says it plans to change from an Ontario company to a federally regulated life insurance company under the Insurance Companies Act (Canada) so it can operate in accident and sickness insurance and life insurance in Canada. Anyone who objects can write to the Office of the Superintendent of Financial Institutions by January 9, 2024.

What it does#

• Alan CA Inc. will apply for letters patent from the Minister of Finance to continue the company under the Insurance Companies Act (Canada) as a life insurer.
• The company says it would operate in the classes of accident and sickness insurance and life insurance.
• The company is a subsidiary of Alan SA (a French company).
• The notice opens a window for objections to be filed with the Office of the Superintendent of Financial Institutions at the address given in the Gazette, with a deadline of January 9, 2024.
• The Gazette notice makes clear that publication is not a decision; the application will be reviewed and approval is at the Minister’s discretion.

Who's affected#

• Current and potential customers of Alan CA Inc. could notice a change because the insurer would become federally regulated.
• Competing insurers and brokers who operate in the same markets (accident, sickness, life) may be interested.
• Regulators: the Office of the Superintendent of Financial Institutions and the Minister of Finance are directly involved.
• The notice does not spell out any immediate change to existing policies or consumer rights; if that matters to you, follow up with the company or the regulator for details.

Why it matters#

• Moving to federal insurance regulation can change which rules and oversight body apply to an insurer. That can affect things like supervision, reporting, and where complaints or solvency questions are handled.
• The public has a short window to object (deadline January 9, 2024).
• Publication in the Gazette is informational only — it does not mean the change will be approved.