Industry
Queensway Financial Holdings Ltd. (QFH) has entered into an agreement to acquire Alliance Insurance Group, a property and casualty insurance holding company located in Chicago, Illinois. Alliance, posting gross premiums written totalling $17 million in 1997, specializes through subsidiaries in writing general liability and property coverages for small to medium sized businesses in 39 states […]
December 31, 1998
1 min read
The last six years have seen dramatic change in the structure and method of business of the property and casualty insurance industry. These “winds of change” sweeping through the industry are primarily a result of the unprecedented consolidation activity and the ever increasing level of competition, notes Richard Gardner, the outgoing president of the Registered […]
By Sean van Zyl, Editor | December 31, 1998
3 min read
Last month Howard Moran, in his capacity as board chairman of the Centre for Study of Insurance Operations (CSIO), announced the resignation of Len Ashby as the organization’s president. Although an outspoken critic of the political dabbling of both companies and brokers in the industry’s various technology initiatives (namely Synchron), Ashby is seen to having […]
4 min read
Lindsey Morden Group has sold Hambro Assistance (HA) to Eastgate Group Limited of London England for $132.4 million. HA, which provides telephone helplines and other assistance services in the United Kingdom, is a unit of Lindsey Morden’s Hambro Insurance Services Group (HIS) subsidiary. Lindsey Morden acquired HIS earlier this year for approximately $210.2 million. The […]
A battle of brawn and wits has begun among service providers to the insurance industry in response to the rapid consolidation taking place at the primary company level.Faced with a changing landscape, service providers are looking for new opportunities and cost-effective means to deliver their wares to insurers. The claims management segment, most notably the […]
By Lowell Conn | December 31, 1998
9 min read
KPMG's 7th annual Insurance Issues Conference, held in November at Toronto's Four Seasons Hotel, focused on the effectsof industry consolidation on medium and small-sized insurance players.
I am often asked what my profession is. Instead of saying, "insurance adjuster" I often respond "an arson investigator". I choose the latter for simplicity and to avoid a volley of complaints from the public over perceived injustices in the settlement of claims.
By Don Turner, an Adjusting Consultant | December 31, 1998
St. Paul Canada recently appointed Brad Tamblyn to the position of assistant vice president-Ontario region, responsible for leading the Corporate Accounts Underwriting team which markets commercial insurance products. Tamblyn has 16 years of experience including a significant background in liability insurance services. The Canadian Insurance Claims Managers Association Ontario Chapter has appointed its 1998/99 executive. […]
Catastrophe losses continued to dampen U.S. property and casualty underwriters’ results for the third quarter of 1998, according to A.M. Best Company. The industry’s net income for the period fell 15% from the previous year’s level, due to higher underwriting losses and declining investment income. The industry’s combined ratio clocked in at 104.2 for the […]
2 min read
The legislative fine-tuning of Ontario’s auto insurance product under Bill 59, which carried through last month with the passing of Bill 90, was generally lauded by insurance, legal and medical professionals at a review seminar held by the Insurance Institute of Ontario (IIO). However, property and casualty insurance commentators say that — while Bill 59 […]
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