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The ontario teachers ‘ pension Plan and Ontario teachers acquires Kanetix

by

Justine Montminy

4 September 2018 13:30

Photo : Freepik

The ontario teachers ‘pension Plan and Ontario teachers (OTPP or better known by its name in English Ontario Teachers’) has completed the acquisition of Kanetix, an online canadian comparison of insurance products and financial products. The terms of the acquisition have not been disclosed.

Ontario Teachers has also announced the appointment ofIgal Mayer as the new ceo of Kanetix. Mr. Mayer is the former CEO ofAviva Canada, Aviva UK and Aviva Europe.

Pension funds invest in insurance

Ontario Teachers ‘ is not the first pension plan in Canada to invest in insurance. In Quebec, the Caisse de dépôt et placement du Québec has recently made two investments to be similar.

A little earlier this year, she had announced to have acquired an interest in the cabinet business insurance BFL Canada. In December, the Fund had also acquired a minority stake in the american group Hyperion Insurance Group.

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