CM News & Events

CIBC Innovation Banking announced that it has provided growth financing to Qover, a European-based embedded insurance platform. The funding will be used to support Qover's continued expansion and growth. Qover orchestrates embedded insurance for businesses and insurers across Europe through a flexible, API-first tech platform that gives distribution partners more control over their insurance program.

CIBC Innovation Banking announced its role as Lead Arranger and Administrative Agent in an expanded credit facility for Vena Solutions. The increased financing and broadened syndicate are set to support Vena's acquisition of Acterys, an industry-leading Microsoft Power BI-based operational planning and app development platform, and provide additional capital to fuel future growth for the newly combined organization. Existing investors include Vista Equity Partners, JMI Equity and Centana Growth Partners.

The Bank of Canada and the country's major banks and financial firms met Friday to discuss cybersecurity risks raised by Anthropic's latest artificial intelligence model Mythos and similar AI models, following a similar move by U.S. policymakers earlier in the week, Bloomberg reported. The Canadian meeting involved members of a body known as the Canadian Financial Sector Resiliency Group that includes representatives from the six largest domestic banks, the report noted.