Industry
Zurich Canada has announced the acquisition of World Travel Protection (WTP), a Canadian travel insurance assistance and administration company. WTP offers travel insurance administration, case management and health information services to large institutions in the affinity and employee group markets. Prior to the acquisition, Zurich Canada held a 50% equity interest in WTP. Full ownership […]
February 28, 1999
1 min read
Dominion of Canada General Insurance has joined the growing rank of insurance companies offering broker call centre services. In the spring of this year Dominion will launch Chieftain Insurance in the Alberta and Ontario personal lines markets. Dominion president George Cooke says Chieftain will initially offer a personal auto and property product sold through an […]
2 min read
Hambro Insurance Services Group (HIS), a recently acquired subsidiary of Lindsey Morden Group Inc., has sold its 33% interest in Oracle Service Network Corporation — a provider of roadside and other assistance services in the U.S. and Canada — to Tampa-based Sykes Enterprises for 486,892 Sykes common shares. Sykes, an outsourcing consultant firm specializing in […]
News
3 min read
Vector Intermediaries Inc. (ASE: VTE) has entered into an agreement to sell its British Columbia operations. Regional vice president of Western Canada Rich Commerford has agreed to purchase Burnaby-based Charlton Insurance Agencies Ltd. as well as Macnaughton & Ward in Surrey and Langley, transactions that are a part of Vector’s continuing restructuring efforts and to […]
The ramifications of the millennium bug are already hitting insurers, says Crawford Adjusters Canada vice president Glenn Gibson, who recently addressed a capacity crowd at the SCOR Canada/Lang Michener Claims Symposium in Toronto. Already in the U.S. – where the bulk of Y2K litigation is currently taking place — over 200 lawsuits have been settled […]
Private passenger auto insurance rates in Ontario decreased during the fourth quarter of 1998 according to the latest rate information published by the Financial Services Commission of Ontario (FSCO). This is the 10th successive quarterly decrease since 1996. Of the 22 rate filings that were approved, 21 dealt with rate changes. The individual rate changes […]
The snowstorm which almost buried Toronto for the first two weeks of the new year is expected to cost insurers roughly $50 million, the Insurance Bureau of Canada (IBC) estimates. Around 115cm of snow fell on Toronto with heavy accumulations in other areas of southwestern Ontario in what was the first major storm of 1999. […]
The Hub Group Ltd., a broker consolidator, has gone public listing on the Toronto Stock Exchange as HBG. The initial public offering, underwritten by CIBC Wood Gundy Securities, distributed $11.7 million Hub common shares to the public at an opening price of $13.50. At press-time, HBG was trading at $17.55. Financial holding company Fairfax Financial, […]
Royal & SunAlliance Insurance Company of Canada has struck a strategic alliance with the Toronto-based broker network, CG&B Group. “We believe that in order for the CG&B Group to maintain our position as a profitable, growing and innovative firm we must expand through acquisitions,” says Rod Finlayson, CG&B senior vice president. “The investment will allow […]
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