Brookfield targets global dominance in property and casualty insurance
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Brookfield Place signage outside of the global investment firm of Brookfield Corporation's offices in Toronto’s Financial District on July 29, 2025. Photo by Peter J. Thompson/National PostArticle contentBrookfield Corp. plans to build its property and casualty insurance business as it looks to exploit a corner of the insurance industry in which the firm has a competitive edge and hasn’t been crowded by other private equity players.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe firm is seeking “a relatively low-risk” area of property and casualty insurance “where we can become globally dominant and create float to invest into our strategies,” particularly its higher-earning equity strategies, chief executive Bruce Flatt said Tuesday at the Goldman Sachs Financial Services Conference.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentArticle contentBrookfield is focused on areas “where we have something special,” including underwriting insurance for real estate construction and warehouses, he said.Article contentPosthasteBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentWhile annuities remain Brookfield’s largest business within insurance, the firm wants to grow the property and casualty insurance business, which currently makes up a small portion of its book.Article contentP&C accounted for just US$3.5 billion of equity as of the second quarter, but Brookfield aims to grow that to US$30 billion to US$50 billion in the long run by writing policies for real estate construction, industrial warehouses and renewable power facilities.Article contentThe Canadian firm has been aggressively expanding its insurance and wealth business, snapping up companies in the U.S., pushing into the U.K. market and, more recently, expanding into Japan’s reinsurance market.Article contentFlatt also said Tuesday that he expects asset sales to accelerate in the U.S. as interest rates drop.Article content“You’re going to see a lot of more monetizations in the United States and that’s good for us — but it’s also good for the industry in general,” said Flatt, who’s also the chief executive of New York-based Brookfield Asset Management.Article contentBloomberg.comArticle contentTrending David Rosenberg: 10 reasons why we're now bullish on the Canadian dollar for the first time in many years News This Canadian mine is as big as a city. It has a basketball court and its chefs serve 4,000 meals daily Commodities Posthaste: A market phenomenon not seen in 50 years is raising red flags at the world's central bank News Uber pulls back from electric cars, slashing incentives for drivers Electric Vehicles Bank of Canada holds interest rate at 2.25%, citing resilient economy Economy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. David Rosenberg: 10 reasons why we're now bullish on the Canadian dollar for the first time in many years News This Canadian mine is as big as a city. It has a basketball court and its chefs serve 4,000 meals daily Commodities Posthaste: A market phenomenon not seen in 50 years is raising red flags at the world's central bank News Uber pulls back from electric cars, slashing incentives for drivers Electric Vehicles Bank of Canada holds interest rate at 2.25%, citing resilient economy Economy