Industry
Zurich Canada recently launched a single insurance solution for various levels of government, educational institutions and health care facilities. Known as Public Sector Solution, the product is designed to provide a full range of coverages for all public entities across Canada, including provinces, cities, towns, townships, counties, school boards, colleges, universities and hospitals. “When we […]
By Canadian Underwriter | September 10, 2012
1 min read
Western Financial Group announced its acquisition of Orion Insurance Brokers Ltd. in Winnipeg on Sept. 7. Western, based in High River, Alberta, will add Orion’s Transcona office to its existing Winnipeg locations. Founded in 1993, Orion was purchased in 2008 and joined the P.M.C. group of brokerages. Its Transcona office will now be under the […]
By Canadian Underwriter | September 7, 2012
Reinsurance companies would be well-advised to continue to focus on solid underwriting to weather uncertainties and adapt to changes. Companies “really need to remain focused on their underwriting,” Gale Guerra, a senior financial analyst at A.M. Best Company, told attendees at the company’s 2012 Insurance Market Briefing – Canada, held in Toronto on Sept. 6. […]
By Canadian Underwriter | September 6, 2012
2 min read
Toronto’s Tredd Insurance Brokers Ltd. has announced the purchase of H.E. Hunt & Associated Ltd. Insurance Brokers. H.E. Hunt, based in Calgary, is now a wholly owned subsidiary of Tredd, but will continue to operate under its previous name. The company has a strong presence providing insurance for the oil and gas industry. Ian Eddy, […]
The low interest rate environment and declining investment returns are putting stress on the insurance industry and having a significant impact on re/insurers, Kurt Karl, chief economist for Swiss Re, noted in a blog post on Sept. 5. “The vulnerability of different lines of business depends on the importance of investment income as a source […]
Omega Insurance Holdings Inc. has announced Matthew Cook as its new president of the group, including both subsidiary companies, Omega General Insurance Company and Focus Group Inc. Cook was previously the group’s chief financial officer and company secretary. He joined the group in 2004, when the Omega General Insurance Company was created, after working as […]
Many Canadians are willing to risk travelling without insurance, often because they find the products confusing, notes new survey results from American Express Canada. About a third of the 1000 Canadians polled in July have never purchased travel insurance, American Express reports in a statement. That percentage is even higher among Canadians between the ages […]
By Canadian Underwriter | September 5, 2012
Intact Financial Corporation today announced the completion of its $530-million acquisition of Jevco Insurance Company, a wholly owned subsidiary of The Westaim Corporation. The acquisition of JEVCO, a leading provider of specialty and niche insurance products for individuals and businesses in Canada, increases Intact’s direct premiums written by approximately $350 million on a pro forma […]
Total global reinsurer capital totalled a record $480 billion (all figures U.S.) at the mid-year point of 2012, notes a new report by Aon Benfield, the intermediary and capital advisor of Aon. That number represents a 5% increase from year-end 2011, states the latest Aon Benfield Aggregate (ABA) report. In its study of 31 publicly […]
SCM Insurance Services has launched a new company to answer what it sees as increased industry demand for better business intelligence tools and enhanced access to risk information. Opta Information Intelligence will provide underwriters, brokers, corporate risk managers and municipalities with access to risk information, as well as proprietary technology for analysis. The new company […]
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