Industry
Intact Financial Corporation (IFC) announced on Monday that it has opened a service centre in Montreal, the insurer’s fourth such centre. Intact Insurance and belairdirect customers in Montreal can now experience a “simpler, faster and more convenient auto claims process,” IFC said in a press release. The service centre is the fourth in Canada. The […]
By Canadian Underwriter | April 3, 2017
2 min read
Financial results for Ontario mutual insurers in 2016 were better than expected, with 2016 marking the eighth consecutive year of overall profitability and seventh year in a row of underwriting profit. The aggregate results for Guarantee Fund Mutuals in 2016 show the surplus amounted to $1.17 billion, up 3% from $1.14 billion in 2015, John […]
By Angela Stelmakowich | April 3, 2017
What was it about Lola? Girls will be boys; boys will be girls? All good. For Canada’s property and casualty insurance industry, as surely is the case elsewhere, it is a mixed up, muddled up, shook up world as well. Traditional views of what brokers, insurers and reinsurers are – and what they do – […]
By Angela Stelmakowich, Editor | April 1, 2017
3 min read
Kent Rowe sees opportunity in change, and technology can prove an excellent vehicle for getting independent brokers where they need to go.
6 min read
Property insurance carrier FM Global released Thursday its financial results for 2016, reporting gross premiums earned of $5.44 billion. All figures are in U.S. dollars. In 2015, Johnston, R.I.-based FM Global had reported gross premiums earned of $5.49 billion. Net premiums earned dropped slightly from $4.01 billion in 2015 to $4.0079 billion last year. FM […]
By Canadian Underwriter | March 31, 2017
1 min read
Lloyd’s, the world’s specialist market for insurance and reinsurance, has reported a pre-tax profit of 2.1 billion pounds for 2016, the same as in 2015. The level of Lloyd’s major claims last year (2.1 billion pounds compared to 0.7 billion pounds in 2015) was the fifth highest this century and above the long-term average, primarily […]
By Canadian Underwriter | March 30, 2017
The Government of Manitoba announced on Wednesday that it is reviewing two pieces of privacy legislation: the Personal Health Information Act (PHIA) and the Freedom of Information and Protection of Privacy Act (FIPPA). The government is inviting residents to provide input on two pieces of privacy legislation, Manitoba Health, Seniors and Active Living Minister Kelvin […]
By Canadian Underwriter | March 29, 2017
Two months after the Insurance Brokers Association of Ontario announced it would no longer invite Aviva Canada Inc. to participate in IBAO’s sponsorship program, the association continues to hold talks with Aviva, IBAO’s chief executive officer said Tuesday. “We continue to talk to Aviva,” IBAO CEO Colin Simpson said. “The challenge we have with Aviva […]
By Jason Contant | March 28, 2017
4 min read
Multi-line brokerage Andrew Agencies Ltd. announced on Thursday the acquisition of Airdrie, Alta.-based McCracken Insurance M.I.L. Ltd. Andrew Agencies will acquire McCracken Insurance on April 3, the former said in a press release. The new Airdrie location will be the brokerage’s first in Alberta and 18th location overall, the other of which are in Manitoba […]
By Canadian Underwriter | March 24, 2017
The federal government said Wednesday it is proposing to eliminate a tax exemption introduced in 1954 for insurance carriers providing property insurance for farming and fishing properties. In its budget document, the ruling Liberals suggested they want to give the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) the authority to share information with […]
By Canadian Underwriter | March 23, 2017
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