Industry
Aon Re Global has appointed Elliot Richardson as the new head of its global cedant facultative reinsurance activities. Richardson recently resigned from his role as head of facultative reinsurance at Benfield. Based in London, he will reportto Michael O’Halleran, chairman and chief executive of Aon Re Global. Aon says it has “been recruiting in the […]
By Canadian Underwriter | September 26, 2006
1 min read
Swiss Re has confirmed plans to further cut approximately 2,000 jobs worldwide, by the end of 2007.The cuts, which Swiss Re attributes to the integration of General Electric’s reinsurance company Insurance Solutions, will be implemented mainly in European and U.S. positions through attrition.The remainder of the jobs, Swiss Re says, will be implemented through early […]
By Canadian Underwriter | September 25, 2006
ICBC has launched a new Web site for mobile Web users to help ease the stress of being involved in a crash or experiencing a vehicle breakdown.The mobile version of www.icbc.com provides critical information on how to report a claim, what to do at the scene of a crash, and key contact numbers. “The site […]
By Canadian Underwriter | September 22, 2006
2 min read
Willis North America has appointed Don Bailey to the position of chief executive officer. Bailey succeeds Mario P. Vitale, who, after six years at Willis, will leave the brokerage to take the position of CEO of Zurich’s Global Corporate North American operations, according to the brokerage. Bailey joined Willis from Allianz Insurance Co. in March […]
Standard & Poor’s Ratings Services says Marsh Marsh & McLennan Cos.’s (NYSE:MMC) ‘BBB’ rating will not be affected by the Company’s plan to complete a market check of its Putnam Investments unit, in order to determine its value. S & P’s says it interprets this to mean that MMC is “considering a transaction involving Putnam, […]
By Canadian Underwriter | September 21, 2006
St. Paul Guarantee Insurance Company (Travelers) has introduced a new policy to give added protection to investment advisers, mutual funds and hedge funds for risks associated with providing asset management products and services to investors.”Investment advisers, mutual funds and hedge funds have come under increased regulatory scrutiny over the last few years and, as a […]
Desjardins Group, an integrated financial group in Canada that includes life and general insurance services, has renewed its service agreement with Bell Canada.The new agreement, valued at approximately CD$670 million, will go into effect Jan. 1, 2007. It states Bell will continue to provide Desjardins with communications services, payment services and call centre services until […]
By Canadian Underwriter | September 19, 2006
New Brunswick’s Liberal Party, led by Premier Shawn Graham, has been elected to government, raising the question of what — if anything — will happen next regarding the introduction of public auto insurance in the province.Graham’s party came to power winning 29 of the province’s 55 seats. He defeated former premier Bernard Lord, whose Conservative […]
AFN Insurance Brokers Inc. (AFN) has partnered with CINUP, a division of the Rice Financial Group Inc. (a subsidiary of Jovian Capital Corporation (JVN:TSX-V)) to offer a convenient one-stop insurance solution to serve the distinct needs of Canada’s First Nations peoples.AFN is a broker exclusively serving First Nations peoples and their public-entity (i.e.commercial/property casualty) insurance […]
By Canadian Underwriter | September 15, 2006
A recent boardroom-spying incident at Hewlett-Packard Co. is putting a spotlight on “pretexting,” the latest scandalous corporate behavior to put providers of directors and officers (D&O) insurance on alert, according to an article published by A.M. Best.According to the Sept. 18 issue of BestWeek, Hewlitt-Packard admitted that on the orders of its chairman, Patricia Dunn, […]
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