Independence American seeks to open Canadian branch

Summary#

Independence American Insurance Company says it will apply to open a Canadian branch to sell property insurance. The company plans to file the application with the Superintendent of Financial Institutions on or after March 9, 2026 under the Insurance Companies Act.

What it does#

• The company will ask for permission to insure risks in Canada under the English name Independence American Insurance Company and the French name Compagnie d’Assurance Indépendance Américaine.
• It says it is a general insurer that intends to offer property insurance in Canada.
• The firm’s head office is in Scottsdale, Arizona, and its ultimate parent is in Luxembourg. The Canadian chief agent will be based in Newmarket, Ontario.
• This is a notice of an intended application, not a final decision or approval.

Who's affected#

• People shopping for property insurance in Canada may see a new insurer enter the market if the application is approved.
• Insurance brokers and agents who place property business could be offered another carrier to work with.
• Existing property insurers may face additional competition.
• The federal regulator (the Superintendent of Financial Institutions) and other oversight bodies will review the application.
• The notice does not say which provinces or exact products will be offered, so it’s unclear which customers or regions will be reached first.

Why it matters#

• If approved, the company could increase choice and competition for property insurance in Canada.
• Approval is required before the company can sell policies here, so consumers should check an insurer’s authorization before buying.
• Regulators will assess the company’s financial soundness and compliance before granting permission, which affects the protections available to policyholders.