Insurance amalgamations and bank sale notices

Summary#

This Canada Gazette page lists several corporate notices about planned business changes in Canada’s financial and insurance sectors. They include two proposed insurance company amalgamations, a bank selling most of its assets, and a trust company planning to reduce its stated capital. Key application or effective dates include July 28, 2025, November 1, 2025, and January 1, 2026.

What it does#

• BMO Life Insurance Company and BMO Life Assurance Company plan to apply for letters patent to amalgamate on or after July 28, 2025 and continue as BMO Life Assurance Company (French: BMO Société d’assurance‑vie). The amalgamated company’s head office would be in Toronto and the proposed effective date is November 1, 2025 (or another date set by the letters patent).
• Fiduciary Trust Company of Canada intends to apply for approval to reduce the stated capital of its common shares by up to $22.0 million, under a special resolution passed by its sole shareholder on June 13, 2025. The reduction would be distributed to the sole shareholder if approved.
• Motus Bank intends to apply on or after July 28, 2025 to sell substantially all of its assets to Coast Capital Savings Federal Credit Union under an agreement dated March 21, 2025. Motus also intends to apply for a certificate of continuance to become a federal CBCA corporation.
• Royal & Sun Alliance Insurance Company of Canada, Intact Insurance Company, and 13130100 Canada Inc. plan to apply for letters patent to amalgamate on or after July 14, 2025, to continue as Intact Insurance Company (French: Intact Compagnie d’assurance). The proposed effective date is January 1, 2026. A report from an independent actuary will be made available to policyholders.

Note: In all cases the notices say these applications will be reviewed by regulators and approvals are not guaranteed.

Who's affected#

• Policyholders and customers of the named insurers: BMO Life Insurance Company, BMO Life Assurance Company, Royal & Sun Alliance Insurance Company of Canada, and Intact Insurance Company.
• Customers and possibly creditors of Motus Bank and users of Coast Capital Savings Federal Credit Union who may see account, service, or contract changes if the sale goes ahead.
• The sole shareholder of Fiduciary Trust Company of Canada, because the reduced stated capital would be paid to that shareholder.
• Employees, agents, and business partners of the companies involved could be affected, though the notices do not describe workforce changes.
• Regulators: the Minister of Finance and the Superintendent of Financial Institutions (Canada) will review the applications.

If you are a customer, policyholder, or investor in any of these companies, the notices are the formal first step — but they don’t yet mean a change has happened.

Why it matters#

• Amalgamations and asset sales can change who administrates insurance policies and bank accounts. That can affect where you send claims or payments, and who answers customer-service questions.
• A $22.0 million reduction of stated capital signals an internal capital move by Fiduciary Trust Company of Canada; that matters to its sole shareholder and may be relevant to the company’s financial structure.
• These are regulatory-stage notices. They tell the public that formal applications will be made and that regulators will review them, so stakeholders have a chance to follow the process or request more information (for example, policyholders can request the actuary’s report mentioned for the Intact-related amalgamation).