Norman1 said
…

RBC sold their insurance company, RBC General Insurance Company, in 2016 to Aviva for $582 million.

RBC now just sells insurance as an agency.

It turns out RBC only sold one of their insurance companies to Aviva.

RBC still has RBC Life Insurance Company that underwrites their life and health insurance. RBC has RBC Insurance Company of Canada that underwrites travel insurance policies:

RBC Insurance: Underwriters

The following is a list of underwriters covering our comprehensive range of insurance services.

• Property and Auto insurance for individuals and families is underwritten by Aviva General Insurance Company.
• Individual and Group Life and Health insurance is underwritten by RBC Life Insurance Company.
• Travel Insurance is underwritten by RBC Insurance Company of Canada. In Quebec, certain coverages are underwritten by Aviva General Insurance Company.
• HomeProtector and LoanProtector plans are underwritten by The Canada Life Assurance Company.
• BalanceProtector Max is optional insurance coverage underwritten by American Bankers Insurance Company of Florida (ABIC) and American Bankers Life Assurance Company of Florida (ABLAC) under group master policy numbers H.0522 and G.0522. ABIC and ABLAC, their subsidiaries, and affiliates carry on business in Canada under the trade name of Assurant^®.
• RBC Guaranteed Investment Funds are segregated funds and are referred to as individual variable annuity contracts. RBC Life Insurance Company is the sole issuer and guarantor of the guarantee provisions contained in these contracts. The underlying mutual funds and portfolios available in these contracts are managed by RBC Global Asset Management Inc.
• Business Loan Insurance Plan (BLIP) is underwritten by RBC Life Insurance Company.
• Group Critical Illness Insurance is underwritten by Allstate Insurance Company of Canada (“Allstate Benefits”) and distributed by RBC Life Insurance Company. Claims under the group critical illness coverages are administered and paid by Allstate Benefits.

JohnnyCash said
Why do PC points convert at 10 equaling a cent. Wouldn't it be more logical to have them convert at 1 = 1 ? Obviously, most of us like to think in dollar terms, so it's 1000 = $1. Maybe 50,000 points in the offer makes it seem much more valuable and generous?  

Completely agree! None of their earn rates are smaller than 10 points, so it seems the only reason they have it that way is to try and trick our brains into thinking the points are better than they are.

Scene points value at a cent per point which is much simpler.

RBC sold their insurance company, RBC General Insurance Company, in 2016 to Aviva for $582 million.

RBC now just sells insurance as an agency.

Norman1 said
Once in a while, I receive a PC Optimum e-mail promoting auto and home insurance through their PC Insurance brokerage.

The fine print at the bottom of that page:

PC® Insurance refers to PC Financial Insurance Agency Inc. Due to provincial legislation, auto insurance products are not offered by PC® Insurance in British Columbia, Manitoba, and Saskatchewan.

PC Financial Insurance Agency Inc.
Home and Auto Insurance products distributed by PC Financial Insurance Agency Inc. are underwritten by Aviva General Insurance Company. PC® auto and home insurance products are not available in Québec.

RBC Insurance use to do their own underwriting, they too now have their policies underwritten by Aviva.

The fine print at the bottom of that page:

PC® Insurance refers to PC Financial Insurance Agency Inc. Due to provincial legislation, auto insurance products are not offered by PC® Insurance in British Columbia, Manitoba, and Saskatchewan.

PC Financial Insurance Agency Inc.
Home and Auto Insurance products distributed by PC Financial Insurance Agency Inc. are underwritten by Aviva General Insurance Company. PC® auto and home insurance products are not available in Québec.

Norman1 said
Yes, offering 100 pts for doing something sounds more substantial than offering 10¢ for the doing the same.

Loblaw is only selling PC Financial to EQB. That is the credit cards, the PC Money account, and the insurance brokerage. Loblaw is keeping the PC Optimum reward program.  

I never knew PC was also into insurance?

Loblaw is only selling PC Financial to EQB. That is the credit cards, the PC Money account, and the insurance brokerage. Loblaw is keeping the PC Optimum reward program.

** Offer valid for new President’s Choice Financial® Mastercard® cardholders who apply by June 30, 2026. Earn a one-time bonus of 50,000 PC Optimum™ points when you spend $100 CDN or more in total qualifying purchases at participating Loblaw banner grocery stores, The Mobile Shop™ stores, Joe Fresh® stores, Shoppers Drug Mart® stores, Pharmaprix® stores, Esso™ or Mobil™ stations in Canada within 60 days of account approval. Visit pcoptimum.ca for participating stores. Qualifying purchases must be made with your new PC Financial® Mastercard®. Date of account approval is the date of the PC Financial® email confirming that your PC Financial® Mastercard® is approved.

Qualifying purchases excludes refunds, cash advances, balance transfers, interest charges, fees, credit or debit adjustments. Any refunds or merchant credits received during the offer period will reduce your total purchase amount for the purposes of this offer. Cannot be used with any other promotions or offers. Offer has no cash value. Your President’s Choice Financial® Mastercard® account must be open and in good standing at the time points are awarded. Offer applies to new accounts only. This introductory offer is limited to one per new PC Financial® Mastercard® account and may be terminated or changed at any time without notice. Allow 4-6 weeks from qualifying purchase(s) for bonus PC Optimumᵀᴹ points to be awarded.

PC Financial doesn't seem keen to have lots of funds in the PC Money account. Pulling funds in used to be limited to $1,000/day. I think the limit is now $25,000/day, $50,000 every 30 days.

I suspect their goal is for the account holder to spend incoming funds through the associated pre-paid Mastercard so that they collect the 1.44% or 1.55% interchange. The goal isn't for holders to move $100,000+ in, transfer it to the savings balance, and collect high interest.