Industry
Insurers for Nortel Networks Corp. will pay CD$228.5 million toward a proposed shareholder lawsuit settlement. In February, Toronto-based Nortel said it would settle with payments of CD$575 million cash from reserves and issue CD$628.7 million common shares. The Ontario-based company also said it would contribute half of any recovered funds relating to lawsuits against former […]
March 31, 2006
1 min read
Insurance brokers across the country are enjoying a refreshing period of quiet, stable markets. At the same time, Canadian brokers, faced with gradually declining rates – particularly in commercial and residential lines – are waiting for the proverbial other shoe to drop. Noting the cyclical nature of the insurance business, brokers seem to be awaiting […]
By David Gambrill | March 31, 2006
12 min read
Why banks shouldn't sell insurance in their local branches
By Robert J. Kimball, President, Insurance Brokers Association of Canada (IBAC) | March 31, 2006
3 min read
Canada's insurers must look beyond combined ratios, ROE to determine industry success, IBC says
4 min read
Insurers need to offer straight-through application processing in the post-CSIO Portal era
By Glen Piller, President and CEO, iter8 Inc. | March 31, 2006
Canada’s tendency to adopt U.S. regulatory trends often negatively impacts Canada’s insurance market, Kingsway Financial Services president and CEO Bill Star told guests attending the February 2006 Property Casualty Underwriters Club’s (PCUC) luncheon, entitled ‘Industry Outlook Past Year, This Year and Next.’ Star made his comments in the context of predicting financial results for Canada’s […]
Buoyed by the value of its investments, the Canadian property and casualty industry’s total assets increased from CD$61.094 billion in Q4 2004 to CD$64.208 billion in the fourth quarter (Q4) of 2005. According to information collected by Canada’s Superintendent of Financial Institutions, Canada’s P&C Q4 investment assets grew from CD$36.3 billion in 2004 to CD$40.5 […]
Royal & SunAlliance Canada’s 2005 combined operating ratio (COR) is the best in history, at 94.8%. Overall, the Royal & SunAlliance Group delivered a strong year-end result with a COR of 93.8% for ongoing businesses, compared to 93.8% in 2004. The Group operating result is CD$1.5 billion (698 million), up CD$968 million (440 million) on […]
TD Bank Financial Group has joined a chorus of voices in the banking industry seeking changes to the Bank Act.In a recent address to TD Bank Financial group’s annual meeting in Vancouver, TD Bank Financial Group president and CEO Ed Clark said TD Bank merely seeks to be able to provide information and not sell […]
By Canadian Underwriter | March 31, 2006
2 min read
St. Paul Travelers (NYSE:STA) announced it’s the first insurance company to offer identity theft coverage for commercial businesses in Canada. The Identity Fraud Expense Coverage Master Policy is available to financial institutions, commercial businesses and business associations and their customers, employees or members. It’s the same coverage currently available to businesses in the United States. […]
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