Industry
A.M. Best Co. announced Wednesday it has upgraded its financial strength rating for Jevco Insurance Co. (Quebec), acquired in September by Intact Financial Corp. The rating firm stated in a press release that it has “removed from under review with positive implications” Jevco (Quebec) and upgraded both its financial strength and issuer credit ratings. The […]
By Canadian Underwriter | November 14, 2012
1 min read
Toyota Canada has issued a recall for nearly 15,000 vehicles in the country, as part of a larger recall by the corporation of about 2.77 million vehicles globally, for problems related to steering and water pumps. The problem is related to the steering intermediate extension shaft on certain Prius models, the company’s hybrid vehicle model. […]
The Guarantee Company of North America has appointed Angelique Magi vice president of strategic initiatives, a newly created role for the insurer. Effective Nov. 5, Magi will now work on a range of segment, product and distribution strategies as part of the company’s overall portfolio growth strategy. Magi has worked in the property and casualty […]
The Federation of Canadian Municipalities is calling on the federal government to create a 20-year plan and to boost funding by $2.5 billion annually to address aging infrastructure across the country.The FCM is proposing the federal government increase its municipal infrastructure investments from $3.25 billion annually to $5.75 billion. That increase would bring spending more […]
By Canadian Underwriter | November 13, 2012
2 min read
A majority of risk professionals report believing cyber security threats are a major risk to their business, and the burden to mitigate those risks is shifting across departments, suggests a recent study sponsored by Zurich. Nearly 87% of the 511 respondents to the survey, which spanned various industries in North America, said they believe cyber […]
French reinsurance firm SCOR SE released Tuesday financial results for the latest period, recording net income of 318 million Euros on gross written premiums of 7.214 billion Euros for the first nine months of 2012. For the three months ending Sept. 30, Paris-based SCOR recorded net income of 112 million Euros on gross written premiums […]
A majority of respondents to a recent insurance industry survey believe the market is hardening across most lines, including commercial auto, property and specialty lines. Insurance software provider FirstBest Systems Inc. conducted a survey over the past few months of 72 professionals in North America with IT and business management responsibilities at various insurers. Most […]
By Canadian Underwriter | November 12, 2012
A.M. Best has affirmed the financial strength rating (FSR) of A++ (Superior), and the issuer credit rating (ICR) of “aa+” (Superior), of the members of The Hartford Steam Boiler Group (HSB) (Hartford, CT). As part of the Group, The Boiler Inspection and Insurance Company of Canada receives recognition for these ratings in Canada. The Boiler Inspection […]
American International Group Inc. of New York City, which was bailed out during the financial crisis of 2008 and has since paid back the U.S. government, is using AIG again as its brand for property & casualty insurance. Until Monday, AIG was offering P&C insurance under the Chartis brand. “Other brands in the AIG family, […]
Kingsway Financial Services Inc. of Toronto, which owns several auto insurance firms in the U.S., released Friday its financial results for the three months ending Sept. 30. During the latest quarter, the firm lost $20 million, compared to net income of $6.29 million during the same period in 2011. All figures are in U.S. currency. […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
