Industry
On Friday, Apr. 21, Dr. Rolf Robert Kern, a key figure in the rise of the Gerling Global General and Reinsurance companies, succumbed to heart failure and passed away peacefully at St. Michael’s Hospital in Toronto.Born on Aug. 5, 1927 in Freiburg, Germany, Rolf Kern and brother Fritz worked the Bakerei Kern before a war-torn […]
By Canadian Underwriter | April 27, 2006
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Zycomp Systems Limited, a B.C.-based developer of computer management systems for Canadian insurance brokerages, has formed a partnership with Brovada Technologies Inc. to make Nexisys available to all Power Broker users. Zycomp’s Power Broker product is currently installed in 1,250 office locations, representing in excess of 1,000 brokerages located in every province across Canada.Nexisys is […]
Online pledging and registration for this year’s ING Ottawa Marathon is now available.The marathon challenges brokers, employees and industry members to form teams and run or walk in an event and collect pledges for cancer research.Events include a 2K, 5K, 10K, 21.2K (half marathon) and 42.2K (full marathon). Last year, the ING Ottawa Marathon raised […]
By Canadian Underwriter | April 26, 2006
CGI Group Inc., an IT and business process service firm, has reported second quarter net earnings of US$14.1 million, or 4 cents a share on revenues of US$866.8 million.Included in the quarter’s results were pre-tax restructuring costs related to specific items of US$31.3 million, or 6 cents a share, the company reported in a press […]
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The Financial Services Commission of Ontario (FSCO) has created a new Web portal to help consumers identify and protect themselves against insurance and other financial scams.The new, ‘Beware of Potential Consumer Scams’ pages on the FSCO Web site alerts consumers and pension plan members to potential scams. “By providing this service, consumers are in a […]
It’s official: The European Commission has cleared Swiss Re’s acquisition of GE Insurance Solutions.In a statement, the commission “concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.”Swiss Re supplies traditional reinsurance services, both life and non-life reinsurance, on a worldwide basis. It […]
The Insurance Brokers Association of Ontario (IBAO) is calling on its membership to lobby against provincial legislative changes that would allow credit unions to retail insurance in their branch networks.”The livelihood of insurance brokers is being threatened by Ontario’s credit unions,” the IBAO says in a recent e-mail to its membership. “On April 8, 2006, […]
By Canadian Underwriter | April 25, 2006
MFX, a provider of technology and IT outsourcing solutions, has signed a deal with holding company C.V. Starr for a comprehensive application service provider solution to C.V. Starr’s policy, claims and reinsurance processing needs.C.V. Starr is a New-York based holding company with insurance agencies and a portfolio of global investments. Historically, the company has produced […]
By Canadian Underwriter | April 24, 2006
Swiss Re says a “very strong capital position” has allowed it to adjust the way it plans to finance its proposed purchase of GE Insurance Solutions. “Swiss Re expects to raise US$3.9 billion instead of US$4.7 billion in equity securities to fund the GE Insurance Solutions acquisition,” the company announced recently on its Web site. […]
By Canadian Underwriter | April 21, 2006
The United States seems to be experiencing the same signs of commercial market softening as is developing in Canada, according to a recent survey by the Washington, D.C.-based Council of Insurance Agents & Brokers (CIAB).”Commercial property/casualty rates were flat or fell slightly during the first quarter of 2006, with renewal premiums for half of all […]
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