Industry
PetCare Insurance Brokers Ltd. has expanded its underwriting relationship with Lombard General Insurance Company of Canada so that, effective March 1, 2006, Lombard will increase its participation in the underwriting of Canadian PetCare pet insurance programs from 50% to 100%. Oakville, ON-based PetCare – a wholly owned subsidiary of Pethealth Inc. (TSX VENTURE:PTZ) – offers […]
December 31, 2005
1 min read
The staff of Canadian Underwriter would like to wish everyone a happy, safe holiday season and a healthy and prosperous New Year.
By Canadian Underwriter | December 22, 2005
Canada’s home, car and business insurers recently released their annual Top Ten Insurance Crimes list, which includes: too many encores; pirate shipping; fender bender fraud; the chop shop king; field of schemes; phantom injuries; too good to be true; persistence doesn’t pay; the invisible workers; and, very bad advice. The annual list highlights the year’s […]
By Canadian Underwriter | December 20, 2005
5 min read
Western Financial Group (TSX – WES, WES.DB.A) has acquired Leroy Agencies in Leroy, Saskatchewan, which offers an insurance program in the hog farming industry.<br>The Company also acquired Coronation Alberta-based NHI Agencies, which is a oil and gas and farming centre as well as B.C.-based Pender Island Agencies, which is a growing tourism and retirement area […]
By Canadian Underwriter | December 19, 2005
Equisure Financial Network Inc. has announced an agreement with the Autorit des marchs financiers (AMF) that will conclude the Quebec regulatory agency’s examination into the business practices of the property and casualty insurance brokerages that Equisure represents in the province.Under its agreement with the AMF, which started its enquiry in March 2005, Equisure has agreed […]
By Canadian Underwriter | December 16, 2005
The Chubb Corporation (NYSE: CB) expects to garner a pre-tax gain of $200 million gaining $168 million in the fourth quarter of 2005 and $32 million deferred from it’s recently completed strategic transaction of the new global reinsurance company Harbor Point Ltd.Chubb has received from Harbor Point $200 million of 6% convertible notes and warrants, […]
Strategy International Insurance Group, Inc. (OTCBB: SGYI) (“Strategy”) has announced that its subsidiary, Strategy Holding Company Limited, has finalized the transaction for the sale of $700 million of preferred stock of Strategy Holding Company to Grupo Lakas S.A., a Panamanian corporation, in exchange for a US$700-million convertible note (collateralized assets having an initial value of […]
By Canadian Underwriter | December 15, 2005
2 min read
Royal & SunAlliance Insurance Group plc has completed the sale of its 21.5% shareholding in Rothschilds Continuation Holdings AG on the originally agreed terms. The total cash consideration is 109.5 million (US$182 million) and the pre-tax gain on disposal is 60 million.Jardine Strategic Holdings Ltd., a holding company within the Jardine Matheson Group, acquired Royal […]
By Canadian Underwriter | December 14, 2005
The Insurance Brokers Association of Canada (IBAC) has expressed its disappointment with the recently announced demise of the CSIO Portal Project.”It is with great disappointment for IBAC that the portal project will not continue growing to better serve the needs of brokers as well as insurers,” IBAC announced in a press release.The Internet-based portal which […]
Alberta insurers do not have to release records if they fall under the realm of “insurer information” as defined by the Insurance Act, according to a recent ruling by Alberta Information and Privacy Commission adjudicator Dave Bell.The Alberta adjudicator decided the ‘Freedom of Information and Protection of Privacy Act’ (the “FOIP Act”) does not apply […]
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