Industry
More than two-thirds (67%) of polled Canadians responded incorrectly when asked if an expensive car always costs more to insure that a cheaper car, according to a new survey on Canadians’ financial literacy. Commissioned by Toronto-based LowestRates.ca, which provides a free, independent service that helps consumers save time and money by comparing personal financial products, […]
By Canadian Underwriter | June 27, 2017
3 min read
OTTAWA – Steps by the Bank of Canada to prepare the country for an eventual interest rate hike are bumping up against an inflation rate that has eased up on the accelerator. Weaker year-over-year growth in gasoline prices last month helped slow the annual inflation rate to 1.3 per cent for May, Statistics Canada said […]
By Jason Contant | June 23, 2017
The global mergers and acquisitions (M&A) market underperformed in the second quarter of 2017, as Europe M&A bucked the trend and market volatility and economic uncertainty depressed performance in North America and Asia, according to Willis Towers Watson’s (WTW) latest Quarterly Deal Performance Monitor (QDPM). While the three-year rolling average performance for global acquirers remained […]
By Canadian Underwriter | June 23, 2017
The federal government passed Thursday a law eliminating the tax exemption for insurers covering farming and fishing properties. Bill C-44 is omnibus legislation that implements, among other things, some provisions of the federal budget 2017-18, tabled March 22. In addition to its budget provisions, Bill C-44 changes several other laws, including the Bank Act and […]
An omnibus bill that proposes to eliminate the tax exemption for insurers covering farming and fishing properties has been referred to a Senate committee. Currently, Section 149 of the federal Income Tax Act stipulates that an insurer is exempt from paying income tax if the insurer covers “property used in farming or fishing or residences […]
By Canadian Underwriter | June 21, 2017
3D printer shipments increased 29%, while revenue grew by more than 18% year-over-year in 2016, according to a new report from Framingham, Mass.-based International Data Corporation (IDC), a global provider of market intelligence, advisory services and events for the information technology, telecommunications and consumer technology markets. “The 3D printing market surge continues on a worldwide […]
2 min read
Commercial insurance prices in the United States were nearly flat during the first quarter of 2017, according to the last Commercial Lines Insurance Pricing Survey (CLIPS) from Willis Towers Watson (WTW). The survey, released on Monday, compared prices charged on commercial policies written during the first quarter of 2017 to those charged for the same […]
By Canadian Underwriter | June 12, 2017
The Co-operators General Insurance Company is looking to further enhance its distribution system in Quebec with the acquisition of Assurance Auclair. The portfolio of the brokerage in Quebec City includes personal and commercial insurance policies, notes a statement Monday from The Co-operators, a Canadian co-operative with more than $47 billion in assets under administration. The […]
By Canadian Underwriter | June 5, 2017
1 min read
May marked the first time in several months that the premium renewal rate for all major commercial product lines in the United States were up year-over year, notes a new index released Thursday by IVANS, a division of Applied Systems. The IVANS Index – which analyzes 120 million-plus data transactions and includes more than 30,000 […]
By Canadian Underwriter | June 2, 2017
Fairfax Financial Holdings Ltd. has agreed to reduce its holdings in Mumbai, India-based insurer ICICI Lombard General Insurance Company Ltd., a joint venture between ICICI Bank and Toronto-based Fairfax. In its annual report for 2016, released in April, Fairfax reported that on March 31, 2016, Fairfax increased its ownership interest in ICICI Lombard to 34.6%. […]
By Canadian Underwriter | June 1, 2017
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