Industry
Specialty insurer Kingsway Financial Services Inc. (TSE:KFS) reported net income of $10.4 million for the first six months of this year compared with $16.2 million achieved for the same period the year previous. Net earnings for the second quarter amounted to $7.2 million against the $3.2 million produced for the first quarter of the current […]
August 31, 2000
2 min read
Manitoba’s drivers could see lower rates on their insurance next year as a result of a strong financial showing by the Manitoba Public Insurance Corporation (MPI) for the fiscal year ending February 29, 2000. MPI saw its net income rise significantly last year to $51.4 million, up from $38.3 million the previous year, largely as […]
With the recent finalization of the federal government’s proposed financial services reform legislation packaged under Bill-38 — set to be tabled before parliament in the fall — independent property and casualty insurance brokers have heaved a collective sigh of relief that the long fought battle to prevent banks from retailing insurance products through branches appears […]
By Sean van Zyl, Editor | July 31, 2000
7 min read
The Toronto Society of Fellows hosted its 6th annual charity ball recently at the Toronto Marriott Eaton Centre. The black-tie affair, which included dinner, dancing, a silent auction and a live auction hosted by CITYTV’s Gord Martineau, raised $150,000 for the Starlight Children’s Foundation and drew a capacity crowd of more than 540 people. Christina […]
July 31, 2000
1 min read
Listening to the words of the financial services regulators, at both the provincial and federal levels, it would appear that a dim light is beginning to show at the end of the long tunnel of regulatory reform — an issue which numerous lobby organizations from across the insurance industry have been striving toward for years. […]
4 min read
The Chicago-based CNA Group is the latest of reinsurance players to be placed on the injury list as a result of losses on Canadian business. CNA Re, which writes its business in Canada through a wholly-owned U.S. registered subsidiary, Niagara Fire Insurance Company, has axed its Canadian management team and shifted control of the book […]
The Board of Directors of CG&B Group Inc. of Ontario announces that Jeff Brandham has been appointed president and chief executive officer. Brandham joined the insurance brokerage and financial services provider as a partner in 1979. AXA Canada has appointed Jean-Denis Talon, currently chairman of the board and president, to the position of chairman of […]
There is little wonder to why insurance company leaders are reluctant to embrace e-commerce wholeheartedly. Having being struck a double whammy of first “panel beating” their multi-million dollar legacy-based systems into shape for Y2K, then being told these same platforms are virtually obsolete in the approaching wave of “next generation” Internet-selling technology, any self-respecting executive […]
By Sean van Zyl, Editor | June 30, 2000
If bigger is better, then Paul Hancock's plans for the Canadian Independent Adjusters Association will be welcome news to its members. The incoming president has his eye squarely on expanding membership, increasing the association's profile, and making strides in the battle for industry self-regulation.
By Vikki Spencer | June 30, 2000
6 min read
The previously announced bidding process launched by broker network consolidator Equisure Financial Network (TSE:EFN) in search of a parent owner has reached the final level of negotiations. Equisure recently issued a news announcement stating that shareholders had accepted the creation of a shareholder rights plan allowing for the bidding process to commence. The first stage […]
June 30, 2000
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