Industry
Intact Financial Corp.’s personal auto results were “disappointing” during the three months ending Sept. 30, chief executive officer Charles Brindamour said Tuesday in press release, but the Toronto-based insurer reported that across all lines, underwriting income more than doubled from $61 million in Q3 2016 to $170 million in the latest quarter. Net earn premiums […]
By Canadian Underwriter | November 8, 2017
3 min read
Trimont Financial Ltd., a subsidiary of the Wawanesa Mutual Insurance Company, announced on Wednesday the formal closing of its previously announced agreement to purchase Western Financial Group and Western Life Assurance (collectively “Western”) from Desjardins Financial Corporation, a Desjardins Group subsidiary. The transaction, valued at approximately $775 million, includes Western’s primary business units: its brokerage […]
By Canadian Underwriter | November 5, 2017
2 min read
Aviva Canada said on Friday that it welcomes the new omnibus Bill 150 tabled by Quebec’s finance minister, which “provides clarity on the distinction between agents and independent brokers” and will help to ensure consumers in Quebec are protected and treated fairly. “Aviva has been vocal about its position in favour of the 20% broker […]
By Canadian Underwriter | November 3, 2017
Fairfax Financial Holdings Ltd. has reported an underwriting loss of $833 million during the three months ending September 30, with its insurers’ share of losses from three recent hurricanes and an earthquake in Mexico amounting to $960 million. All figures are in United States dollars. Toronto-based Fairfax owns Northbridge Insurance, OdysseyRe and the majority of […]
After estimating it could lose nearly $320 million due to natural catastrophes including major North Atlantic hurricanes in the three months ending September 30, Arch Capital Group Ltd. has reported its combined ratio in reinsurance deteriorated 51.5 points, from 75.9% in Q3 2016 to 127.4% in the latest quarter, while reinstatement premiums from three hurricanes […]
By Canadian Underwriter | November 2, 2017
Atlantic Canada’s Archway Insurance is joining forces with Halifax-based Jack & Co. Ltd. and its affiliate, AFC Insurance Services of Cole Harbour, in a move meant to enhance the capabilities and extend the reach for both entities. The intent of the partnership “is to improve access to insuring markets for their personal and commercial clients, […]
Aviva Canada has announced its Aviva Community Fund finalists from among the more than two million votes cast for over 500 ideas. The finalists, who are in the running to win a share of more than $1 million, are evaluated by an independent panel of judges who choose the grand prize winners, Aviva Canada said […]
By Canadian Underwriter | November 1, 2017
The management teams of both Trisura and RSA Canada continue to work closely together to ensure a smooth transition of RSA’s contract and commercial surety business in Canada to Trisura Guarantee Insurance Company. “Our primary objective is to ensure minimal impact to brokers and to their clients,” Paul Lucarelli, senior vice president of commercial insurance […]
By Jason Contant | November 1, 2017
Hamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a net loss after tax of US$253.8 million for the third quarter of 2017 compared to net income of US$95.6 million in the same quarter last year. “The third quarter was characterized by multiple, large-scale natural catastrophes across our industry,” noted Chris O’Kane, Aspen’s chief executive officer, […]
By Canadian Underwriter | October 31, 2017
4 min read
A set of changes to auto accident benefits coverage is a “perfect example” of an opportunity for brokers to contact their clients and review insurance needs, the president-elect of the Insurance Brokers Association of Ontario suggested at the organization’s recent annual convention. “Don’t forget every human being desires personal contact,” said Brian Purcell, who takes […]
By Jason Contant | October 31, 2017
5 min read
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