Industry
Aviva plc has announced a major shuffle of its executive team that will see Igal Mayer, currently chief executive of Aviva Canada, become chief executive of Norwich Union General Insurance.Andrew Moss, currently the group finance officer, has been promoted to group chief executive and Tom Godlasky, currently chief executive of Aviva USA, will become chief […]
By Canadian Underwriter | April 23, 2007
1 min read
Canadian Western Trust (CWT), the parent company of Canadian Direct Insurance Incorporated, is celebrating its 20th anniversary, with the last decade marking a tenfold growth and $3.6 billion total. It is truly gratifying to have earned the recognition and confidence of individuals and industry associates that have embraced our value proposition and highly personal approach […]
By Canadian Underwriter | April 20, 2007
SSQ Financial Group reported an increase of 11.8% in premiums underwritten in 2006, representing an increase from $1.2 billion to $1.4 billion. SSQs Group Insurance business line experienced $95 million in new sales and growth in annual premium income of 9.3%, for a total of $960.1 million in 2006, an SSQ release says. Over the […]
By Canadian Underwriter | April 19, 2007
Newport Partners Income Fund (TSX: NPF.UN) announced it has invested $18.2 million cash for a 77.5% interest in the business of Toronto-based Baird MacGregor Insurance Brokers LP (BMI), an insurance broker specializing in the transportation and logistics industries in Ontario.Under the terms of the transaction, Newport is also providing $2.3 million through its credit facilities […]
By Canadian Underwriter | April 18, 2007
SNL Financial, a provider of business information to financial institutions has reached an agreement with the National Association of Insurance Commissioners (NAIC) to acquire and publish statutory insurance data.Statutory insurance data consists of detailed financial and operating data filed quarterly for more than 5,000 public and private insurance companies, including: line of business results, market […]
The Autorit des marches financier (AMF) announced that it has reached an agreement with RBC General Insurance Company to close a file concerning the compliance of statistical data.The AMF recommended improvements to the procedure for the collection and transmission of the required information in order to ensure better supervision, particularly with regards to the reliability […]
By Canadian Underwriter | April 17, 2007
The Women in Insurance Cancer Crusade (WICC) Ontario Chapter has issued a call for golfers to register for this years golf tournament to be held, rain or shine, on Monday, July 16th. Participants will be warming up the greens at the prestigious Angus Glen golf courses for the pros who will compete in the Canadian […]
Converium Holding AGs board of directors is urging its shareholders to reject SCOR S.A.s offer to purchase the registered shares in Converium held by the public, claiming that the offer fundamentally undervalues the Companys franchise and growth prospects.After careful consideration of SCORs offer, we urge our shareholders to place their confidence in our managements detailed […]
By Canadian Underwriter | April 13, 2007
Fairfax Financial Holdings Limited (TSX and NYSE: FFH), a financial services holding company engaged in insurance and reinsurance, has filed a preliminary short form base shelf prospectus with the Canadian securities regulatory authorities, allowing Fairfax to offer from time to time over a 25-month period. up to US$750 million of debt, equity or other securities.The […]
The Court of Queens Bench in New Brunswick has overruled the New Brunswick Superintendent of Insurance and ordered the regulator to review its dismissal of a case involving unresolved allegations of unfair or deceptive practices.In making his decision for the court, Court of Queens Bench Justice Richard Bell said the regulator had not correctly disposed […]
By Canadian Underwriter | April 12, 2007
2 min read
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