Industry
Aviva Canada kicked off a new road safety initiative, although things got off to a rocky start in Toronto. The Take Back Our Roads campaign launched this week as a way to improve road safety on streets across Canada, said Catherine Brown, vice president of marketing and corporate social responsibility at Aviva. The project is […]
By Adam Malik | June 27, 2019
3 min read
WASHINGTON – Federal Reserve Chairman Jerome Powell said Tuesday the economic outlook has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates. Speaking to the Council on Foreign Relations in New York, Powell said the Fed is now grappling […]
By Greg Meckbach | June 26, 2019
Economic profit is unevenly distributed among insurance companies, but five bold moves can help carriers catch up, McKinsey & Company said in a paper released late last week. These moves include shifting resources between businesses, reinvesting a substantial share of capital in organic growth opportunities, and pursuing M&A deals that could include new product lines […]
By Jason Contant | June 25, 2019
Posting its lowest level of profitability in almost 20 years, the Canada’s property and casualty industry’s ugly financial results in 2019 Q1 have raised concerns about an elevated insolvency risk. Canada has not had an insurer go bankrupt for more than 10 years, with one high-profile example being the wind-up of Markham General in 2002. […]
By David Gambrill | June 25, 2019
2 min read
VANCOUVER – Crews with the B.C. Wildfire Service are battling another small but worrisome blaze on the province’s south coast. The fire was reported Monday afternoon on Cecil Hill near Pender Harbour on the Sechelt Peninsula. It is not threatening any homes, but it has now scorched more than two square hectares of bush and […]
By The Canadian Press | June 25, 2019
1 min read
Northbridge Financial President and CEO Silvy Wright has been elected to lead the Insurance Bureau of Canada’s board of directors, effectively immediately. IBC is in a unique position, Wright noted in a statement, as the industry faces an “unprecedented pace” of change with new challenges ahead. “These challenges span from…advancing the country’s preparedness for severe […]
By Adam Malik | June 25, 2019
How much would you give up in annual pay for more meaningful work at your brokerage? A recent study of 1,500 Canadian office workers found that almost half of them would give up nearly $9,000 in an annual pay raise for work that is more meaningful and less mundane. “That’s a bold statement,” said Marc […]
By Jason Contant | June 24, 2019
Fast, simple and personalized. Those are the demands being placed on Canadian carriers as they strive to meet customer expectations in a digital experience-driven world. It’s no longer enough to set your yardstick by how well (or badly) the competition is doing – but how consumers’ expectations of their transactional worlds are set in general. […]
By Jason Contant | June 20, 2019
5 min read
Four years from now, all of Wawanesa Mutual Insurance Company’s Winnipeg workers should be in a new office building. Wawanesa announced June 13 it will have a new North American headquarters at the southwest corner of Carlton Street and Graham Avenue, near Bell MTS place. Canada’s largest mutual property and casualty carrier, Wawanesa was founded […]
By Greg Meckbach | June 19, 2019
La Capitale General Insurance and LEDOR Assurances could combine if a plan announced Wednesday is approved by regulators. The two property and casualty insurers “have embarked on an initiative to amalgamate,” Quebec City-based La Capitale Insurance and Financial Services said in a release. LEDOR is a mutual based in Sainte-Claire, about 50 km south of […]
By Greg Meckbach | June 13, 2019
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