Industry
Royal & SunAlliance is making sweeping global changes in light of continued financial troubles. The company has announced results of a financial review that will see it exiting under-performing lines of business. The group says it will continue to focus on general insurance, having already sold off much of its life operations. As for Canada, […]
November 30, 2002
2 min read
You believe you have automated your office. But, where are your profits? Where is the increased productivity and reduced costs? What happened to the "promises" of automation? An investment in automation is expected to make an improvement, but does it?
By Catherine Trimble, Applied Systems Canada | November 30, 2002
3 min read
In the latest edition of “Perspective” – the Insurance Bureau of Canada’s (IBC) quarterly industry financial newsletter – chief economist Paul Kovacs notes (with perhaps a hint of irony): “Not long ago, many [within the property and casualty insurance industry] were concerned that overcapitalization was disrupting insurance practices in Canada and elsewhere. Now some concern […]
By Sean van Zyl, Editor | November 30, 2002
4 min read
The industry donned its finest digs for the 47th Annual Toronto Insurance Conference Black Tie Dinner at the Four Seasons in Toronto recently. Special guest speaker was former hockey player Dennis Hull, and TIC president Tracey McLean offered insights into the important role the TIC plays for area brokers.
1 min read
Business IT solutions provider CGI Group Inc. (TSX: GIB.A) has signed an agreement to acquire claims specialist Underwriters Adjustment Bureau Ltd. (UAB) for $53 million. The deal is expected to close by the beginning of next year. UAB generates about $100 million in annual revenue. A statement released by CGI says the deal will benefit […]
Comments made in the September 2002 issue of Canadian Underwriter regarding the difficulty in determining whether a Lloyd’s Syndicate is writing business were intended to refer to situations involving fraud and not to Lloyd’s cover holders legitimately writing business in Canada.
PPG Canada has a new home at 2301 Royal Windsor Dr. in Mississauga, ON, housing its headquarters, Toronto Business Development Center, CertifiedFirst Network and Nexa Autocolor offices. The company’s new phone number is 905-823-8377 and fax 905-823-0398, but all email addresses remain the same. The Insurance Institute of B.C. (IIBC) has a new chair, Glenda […]
Fairfax Financial Holdings (TSX: FFH) produced signs of a financial turnaround for the third quarter of this year, showing the largest quarterly profit in the company’s history. After posting a loss of $458.3 million for the same period in 2001, the company came through with net earnings of $281.4 million for the 2002 third quarter, […]
Broker network consolidator Hub International Ltd. (TSX: HBG) saw net income for the third quarter of this year rise by 59% to US$5.4 million compared with the US$3.4 million reported for the same period the previous year. Diluted earnings for the latest reporting period amount to 19 a share against the 9 a share shown […]
This year marks the 50th anniversary of the Ontario Chapter of the Canadian Insurance Claims Managers’ Association (CICMA), the forerunner of the national organization. The first executive, led by president Walter Jennings, set out the goals of developing more harmonious relations amongst insurance companies, a more consistent approach to claim settlements and a high standard […]
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