Industry
The Insurance Brokers Association of Canada (IBAC) will be holding its first-ever National Best Practices Symposium on October 18-19, 2005, in conjunction with the IBAO Convention at the Royal York Hotel, Toronto.”The Best Practices Management Institute features sessions by knowledgeable industry insiders,” IBAC CEO Dan Danyluk says. “These workshops have been carefully structured to give […]
By Canadian Underwriter | September 16, 2005
1 min read
More than 70% of Maritime passenger vehicles have improperly inflated tires – a potentially serious problem that leads to reduced road safety, according to a study by the Rubber Association of Canada and Natural Resources Canada. The Maritime number is high, but it is on par with the national average, the study found. Across the […]
By Canadian Underwriter | September 14, 2005
2 min read
Kingsway Financial Services Inc. (TSE:KFS,NYSE:KFS) has announced that it has reached a definitive agreement to acquire HI Holdings, Inc. (HI), including HI’s wholly owned Zephyr Insurance Company Inc.HI and Zephyr were formed in 2000 by its current shareholders, including Everest Reinsurance Company, Guy Carpenter & Company, Inc., Hannover Ruckversicherung AG, and Island Holdings, Inc.Subject to […]
By Canadian Underwriter | September 12, 2005
Canada’s insurance career destination, www.i-hire.ca, has introduced new “Power Posting Packages,” providing employers and recruiters the option of high-volume packages of 20, 50, and 100 job postings for duration periods of both four and eight weeks.Power Posting Packages offer new flexibility because job postings are now available to insurance industry employers and recruiters at a […]
Berkshire Hathaway Inc. (NYSE:BRK.A and BRK.B) has announced that on Sept. 8, 2005, Joseph Brandon, CEO of General Reinsurance Corporation, a wholly owned subsidiary of Berkshire Hathaway, received a "Wells notice" from the staff of the Securities Exchange Commission, which indicates SEC staff is considering a civil action.The SEC is engaged in an ongoing investigation […]
By Canadian Underwriter | September 9, 2005
Fairfax Financial Holdings Limited (TSX:FFH.SV)(NYSE:FFH) has received a subpoena from the U.S. Securities and Exchange Commission (SEC), requesting documents regarding nontraditional insurance/reinsurance transactions made or products offered by entities of the Fairfax group.Fairfax says it is cooperating with the SEC request.For the past several months, the SEC has been conducting an industry-wide investigation into nontraditional […]
By Canadian Underwriter | September 7, 2005
Belron Canada Inc., a Montreal-based subsidiary of Belron S.A., a vehicle glass repair and replacement company, has signed an agreement to acquire the Canadian glass operations of TCG International Inc.’s Autostock International Division, headquartered in Burnaby, British Columbia. The transaction is scheduled to be completed in November 2005, subject to customary regulatory approvals. “We are […]
Hub International Limited (NYSE/TSX: HBG) today announced the fold-in acquisition of The Innovators Insurance Agencies Ltd. (Innovators) by its regional hub, Hub International Barton Limited (HUB Barton), which services British Columbia, Canada. Innovators operates primarily in the Kootenay Region of British Columbia and is located in Cranbrook, B.C. Since its founding in 1973, Innovators has […]
By Canadian Underwriter | September 1, 2005
Despite the severity of loses incurred due to Katrina, it is expected that both insurance and reinsurance companies will fulfill their policyholder commitments with little detriment to individual company ratings. The first 72 hours after Katrina hit, however, caused a major ripple in the reinsurance market as reinsurance contracts are ultimately responsible not only for […]
August 31, 2005
Swiss Reinsurance Co. has appointed Jacques Aigrain as the new chief executive officer. Aigrain, who most recently served as deputy CEO of the company, will succeed John Coomber upon his retirement as CEO in December. Coomber will be nominated for the board of directors at Swiss Re’s annual general meeting in 2006, according to the […]
5 min read
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