Industry
McDougall Insurance & Financial is expanding its horizons, with its sights set on areas outside of its typical eastern Ontario operating range. The Belleville, Ont.-based brokerage announced on Friday that it had merged with Mink Insurance Services in Midland, Ont., the first merger in the central part of the province. “It’s an indication that we […]
By Jason Contant | December 4, 2017
2 min read
Trisura Group has acquired the remaining 40% management interest in its Canadian subsidiary that holds Trisura Guarantee Insurance Company, a move intended to provide the latter entity with more access to capital. “Trisura Guarantee benefits from better and more flexible access to capital following the spin-out,” David Clare, chief investment officer with Trisura Group, told […]
By Jason Contant | December 2, 2017
British Columbia’s monopoly auto insurer has little incentive to improve customer satisfaction, and an opposition party member is slamming the ruling New Democratic Party for not implementing recommendations made in July immediately after taking power. Insurance Corporation of British Columbia (ICBC), a crown corporation, has a monopoly on basic mandatory auto coverage in the province, […]
By Jason Contant | December 1, 2017
3 min read
Insurance Brokers Association of B.C. (IBABC) and a provincial cabinet minister are calling for major changes to British Columbia’s money-losing government monopoly auto insurer. But it’s been four months since the release of a consultant’s report containing specific options and there is no word on whether potential product changes put forth by Ernst & Young […]
By Jason Contant | November 29, 2017
Don’t hold your breath waiting for further Ontario auto insurance reforms. No major changes are expected to Ontario auto insurance law before next year’s election, even though 35 recommendations were released more than seven months ago in a review commissioned by Finance Minister Charles Sousa. “I suspect auto insurance legislation is not necessarily the biggest […]
By Jason Contant | November 28, 2017
The global natural catastrophe story for 2017, one that could tell the tale of the largest related losses in history, shows how interconnected each country’s reinsurance market is to the global whole. Reinsurers operating in Canada are advised that, this time around, being part of the whole may demand rethinking risk, pricing and partners.
November 27, 2017
1 min read
TORONTO – The Canada Pension Plan Investment Board has signed a $1.1-billion deal to acquire a 30 per cent stake in BGL Group, a digital distributor of insurance and financial services. BGL Group’s brands include Comparethemarket.com, LesFurets.com and online life insurer BeagleStreet.com. Under the deal, CPPIB will nominate a non-executive director to represent it on […]
By Jason Contant | November 24, 2017
State Farm’s brand name in Canada will transform to Desjardins Insurance over an 18-month phased transition period starting in May 2018 and concluding by late 2019, Desjardins executives told Canadian Underwriter Wednesday. The re-brand will put the Desjardins Insurance name on close to 500 former State Farm offices across Canada. Desjardins currently serves more than […]
By Jason Contant | November 22, 2017
The Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ), a Quebec broker association, is concerned about a proposed change to provincial law that would require brokerages to quote a minimum of four markets on any insurance proposal. Quebec introduced the amendment to clarify Article 38 of the so-called “20% rule,” which bans a financial […]
Say goodbye to the State Farm brand name in Canada. Desjardins announced Tuesday that the former State Farm Canadian business will gradually be rebranded Desjardins Insurance. The brand transition will officially begin on May 1, 2018, and will be completed by Dec. 31, 2019. “This is an exciting step in the evolution of Desjardins,” said […]
By Jason Contant | November 21, 2017
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