Office address: 1 Toronto Street, Suite 400 Toronto, ON M5C 2V6
Website: www.canadaguaranty.ca
Year established: 2010
Company type: insurance
Employees: 141
Expertise: mortgage default insurance
Parent company: group formed by the Ontario Teachers’ Pension Plan and National Mortgage Guaranty Holdings Inc.
CEO and key people: Andy Charles, President and CEO
Financing status: formerly PE-backed
Canada Guaranty is a 100% Canadian-owned private mortgage insurer. Since its inception in 2010, the company has been committed to providing exceptional service, personalized support, and flexible solutions to lenders, mortgage professionals, and home buyers across the country.
The company is headquartered in Toronto with regional account executives across Canada.
Canada Guaranty was established in April 2010 when a Canadian private investor group, made up of the Ontario Teachers’ Pension Plan and National Mortgage Guaranty Holdings Inc., acquired AIG United Guaranty Mortgage Insurance Company Canada. This acquisition marked the creation of the only 100% Canadian-owned private mortgage insurance company.
Canada Guaranty’s products and services can be classified under three programs:
These offerings reflect Canada Guaranty's commitment to providing adaptable and comprehensive solutions in the mortgage insurance sector.
Canada Guaranty’s culture is built around providing solutions and service excellence to mortgage and lending partners throughout Canada. It emphasizes the importance of decision-making, customer relationships, and industry knowledge.
The company operates under 3 organizational pillars:
Andy Charles has been the President and CEO of Canada Guaranty since 2010. He was also President and CEO of Canada Guaranty’s predecessor organization, AIG United Guaranty, from 2005-2010.
Under Charles’ leadership, Canada Guaranty has insured over 350,000 Canadians, representing $68 billion in residential mortgage volumes.
Charles’ career spans nearly 40 years in the financial services industry, having been part of organizations such as American Express and CIBC. His contributions to the mortgage industry were recognized with his induction into the Canadian Mortgage Hall of Fame in 2012.
Canada Guaranty is set to continue its growth and influence in the Canadian mortgage industry. It is committed to providing excellent products and services to home buyers, lenders, and brokers – today and in the years to come.
The acquisition of the lending giant has cleared its final hurdle
A number of mortgage and title insurers signed a letter of intent Friday to formalize their commitment to launching a new industry association.
The name AIG United Guaranty is no longer after the Ontario Teachers' Pension Plan, along with other investors, successfully completed the acquisition of the private mortgage insurer and renamed it Canada Guaranty Mortgage Insurance Company.