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Carney's comeback: what it means for the P&C insurance industry

  • Canadians elected Mark Carney's Liberal Party back to power in a tight federal election held on April 28, 2025.
  • The election followed Trudeau's resignation amid a major economic crisis and was influenced by Trump administration tariffs and calls to make Canada the 51st U.S. State.
  • Carney, a former central banker known for sustainable finance work, leads a Liberal minority projected to win around 168 seats but short of the 172 majority threshold.
  • Insurance industry leaders praised Carney's win and the Liberals' $15 million 2024 budget commitment for a national flood insurance program with a planned launch by next April.
  • Carney’s strong minority government may allow broader policy latitude, indicating potential progress on federal insurance backstops and economic stability in coming years.
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ORANGE COUNTY TRIBUNE broke the news in on Tuesday, April 29, 2025.
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