Industry
CANADIAN MARKET Federally regulated Canadian P&C insurers boost results in 2012 Q1 Federally regulated property and casualty insurers in Canada posted improved financial results in 2012 Q1, recording a collective quarterly profit of $1.048 billion this quarter as opposed to a $721.7-million profit in the same period last year. Figures from the Office of the […]
July 1, 2012
4 min read
Economical Insurance has announced the appointments of David Crozier as chairman and Philip Mather as vice-chairman of Family Insurance Solutions. Crozier is senior vice president of operations at Economical, while Mather is the company’s chief financial officer. Economical Insurance has been the parent company of Family, a managing general agent, since 1999. Crozier described Family […]
By Canadian Underwriter | June 29, 2012
1 min read
American International Group Inc. (AIG) intends to re-brand select businesses, including Chartis, back to AIG this fall. “While we have not yet officially re-branded, Chartis will begin using the AIG brand in the fall,” states a June 29, 2012 letter to Chartis business colleagues. “The decision to re-brand follows research conducted with our customers and […]
2 min read
The Financial Services Commission of Ontario (FSCO) has released a new Health Claims for Auto Insurance (HCAI) July 2012 Guideline – Superintendent’s Guideline No. 02/12, intended to help insurers reconcile health care invoices. HCAI is an electronic system for transmitting auto insurance claim forms between insurers and health care facilities in Ontario. “FSCO has received […]
Local 378 of the Canadian Office and Professional Employees Union (COPE) will address its ongoing contract negotiations with the Insurance Corp. of British Columbia through a series of targeted actions. Representing 4,600 workers at the ICBC, the union issued a 72-hour strike notice on June 28. But a ruling by British Columbia’s Labour Relations Board […]
Randall & Quilter Investment Holdings plc confirmed at its annual general meeting June 27 that it is closing its Canadian managing general agency (MGA). The company, a specialist non-life insurance investor, service provider and underwriting manager, came to the decision following a thorough review. “Whilst the closure of Canada will incur one-off costs of £600k […]
By Canadian Underwriter | June 28, 2012
Drivers in Saskatchewan will see a 1.6% net increase in the basic auto insurance premium, effective Aug. 4, 2012. Saskatchewan Government Insurance (SGI) reports in a statement that the provincial government approved the net increase with rate rebalancing to SGI’s basic auto insurance premiums. SGI had requested a 3.7% hike with rate rebalancing, while the […]
Global property and casualty (non-life) insurance premiums grew by 1.9% in 2011 on the heels of solid economic growth in emerging markets and selective rate increases in some advanced markets, according to Swiss Re’s latest sigma study. The Swiss reinsurer also noted that capital and solvency remained solid despite costly natural catastrophe events and historically […]
Catlin Group Limited (‘CGL’; London Stock Exchange), an international specialty property/casualty insurer and reinsurer, has announced that David Huebel will become CEO of Catlin Canada, effective July 3, 2012. Huebel joined Catlin Canada in 2009 as chief underwriting officer. He began his career in 1987 at Gerling Global General Insurance Company (now RSA), where he […]
Gail Sheepway has accepted a new position as Zurich’s specialty products Canada business lead, effective July 1. Sheepway will be involved in making plans for growth in Canada in conjunction with the existing growth strategy in the United States and in a series of workstreams related to connecting Canadian business into specialty products’ existing special […]
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