Industry
$250,000 Presented to the Canadian Cancer Society at WICC Ontario's 10th Annual Gala Fundraising Dinner!
April 30, 2006
5 min read
It’s the end of the world and the Canadian insurance industry feels fine. That’s the general impression the industry is portraying, after the Insurance Bureau of Canada (IBC) confirmed in March what brokers across the country have already been indicating: the country’s insurance market cycle is turning soft. On the face of it, it seems […]
3 min read
The amalgamation of Allianz Insurance Company of Canada and The Nordic Insurance Company of Canada has recently been finalized under the name of The Nordic Insurance Company of Canada. Allianz and Nordic, insurance subsidiaries of ING Canada Inc. (TSX:IIC.LV), announced their intention to amalgamate on Feb. 20, 2006. ING Canada acquired Allianz Insurance Company of […]
1 min read
March and April witnessed a fair amount of mergers and acquisitions (M&A) activity, but arguably one of the bigger M&A stories of that period was a merger that never came to pass. In late March, Aviva ppl in the United Kingdom formally withdrew a $17-billion (US$29.6-billion) proposal to merge with Prudential ppl. Prudential’s board initially […]
2 min read
ING Canada (TSX:IIC.LV) acquired Grey Power Insurance Brokers Inc. (GPIBI) of Stouffville, ON. With its acquisition of GPIBI, ING Canada now owns four of the eight Grey Power brokerages. The transaction is not expected to immediately affect the staff or operations of GPIBI. Ron Griffiths, a founding principal of GPIBI, will continue to act as […]
With over 630 in attendance, Fred De Francesco, principal of Fairview Insurance Brokers was awarded the “Lew Dunn Memorial Award” by the Women in Insurance Cancer Crusade (WICC) at the WICC Ontario 10th Anniversary Annual Fundraising Dinner – “Fueling the Flame’, March 29, 2006 at the Westin Harbour Castle Hotel in Toronto. The Lew Dunn […]
Arch Capital Group Ltd. (NASDAQ: ACGL) reports that net income available to common shareholders for the 2006 first quarter was US$129.6 million, or $1.71 per share, compared to $115.9 million, or $1.57 per share, for the 2005 first quarter.Gross and net premiums written for the 2006 first quarter were US$1.17 billion and US$873.7 million, respectively, […]
By Canadian Underwriter | April 28, 2006
Co-operators General Insurance Company has reported a consolidated after-tax net income of CD$31.9 million for 2006 1Q, compared to the CD$36.5-million profit for the same period in 2005.Gross written premium during the first quarter increased 5.3% to CD$428 million, the company reported, compared to CD$407 million in the first quarter of 2005.The loss ratio for […]
Hub International Limited (NYSE:HBG) (TSX:HBG) is crediting its acquisitions strategy in part for 2006 1Q revenue growth of 12% – from US$119.2 million to US$134.1 million.”We are off to a solid start in 2006, with measurable progress on all fronts,” Hub chairman and CEO Martin P. Hughes said in a press release. “Revenue is up, […]
Eight Greater Toronto Area residents face 97 charges after the Toronto Police Fraud Squad, the Toronto Strategic Partnership, members of 33 Division and various insurance industry members concluded a four-and-a-half month investigation into the alleged production and sale of illegal insurance policies and insurance cards.The investigation began Dec. 1, 2005, as part of a province-wide […]
By Canadian Underwriter | April 27, 2006
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