Industry
Automobile insurers in Quebec generated significant profits in 2010 – 17.3% of premiums written, according to the Autorité des marchés financiers (AMF) 2010 report on automobile insurance rates. This keeps with a positive trend observed over the past 10 years, the AMF said in its release. Québec-chartered insurers still dominate the home market, grabbing 63% […]
By Canadian Underwriter | June 9, 2011
1 min read
A series of severe thunderstorms ripped through much of Ontario on June 8, leaving a rash of claims in its wake. The first round of thunderstorms raced across areas from Southern Georgian Bay, across the Kawarthas to the Ottawa area in the early afternoon. As the fast moving thunderstorm moved across the area, there were […]
2 min read
A group of six Alberta incorporated property and casualty companies reported a net income of $13 million in 2011 Q1, marking a slight decrease from the $14.9 million reported in 2010 Q1, according to filings posted by Alberta’s Superintendent of Insurance.The figures include results from the:•Alberta Motor Insurance Company;•Canadian Farm Insurance Company;•Fortress Insurance Company;•Millennium Insurance […]
By Canadian Underwriter | June 8, 2011
Crum & Forster (C&F), part of the Fairfax Financial Holdings group of companies, announced management changes in connection with its recent acquisitions of First Mercury Financial Corporation, Valiant Insurance and American Management Corporation.The appointments are within Crum & Forster’s specialty lines operations and include:•Richard H. Smith, chairman and CEO of First Mercury, has assumed responsibility […]
The Co-operators has received the Top Spot among the ‘Best 50 Corporate Citizens in Canada,’ as ranked by the Corporate Knights. Corporate Knights is an organization dedicated to the promotion of responsible business practices in Canada and the advancement of social and environmental sustainability worldwide.The annual ranking is based on environmental, social and governance indicators […]
Canpro Global Services Inc. and King-Reed & Associates LP have amalgamated to create the largest full-service risk mitigation and investigation company in Canada.Canpro Global Services Inc. is headquartered in Vancouver and has 11 offices throughout Western Canada. With more than 300 employees, it produces risk mitigation services through its five subsidiaries — investigations, HRservices, risk […]
By Canadian Underwriter | June 7, 2011
A.M. Best has placed the financial strength rating of ‘A+’ (Superior) of Intact Insurance Group, under review with negative implications.Intact Insurance Group members include Belair Insurance Company, Intact Insurance Company, Novex Insurance Company, The Nordic Insurance Company of Canada and Trafalgar Insurance Company.The rating action follows the announcement that Intact will purchase AXA Canada. “The […]
The AXA Art operation in Canada has not been sold to Intact Financial Corporation. AXA Art is and remains a wholly owned subsidiary of the AXA Group and was not part of the sale of AXA Group’s Canadian operations to Intact, the company announced in a public statement.AXA Art made the announcement after fielding a […]
Political violence, strikes, riots, civil war and war threaten business continuity as much as terrorism, according to Aon Risk Solutions’ Terrorism Threat Map.For the first time in its 10-year history, Aon’s annual Terrorism Threat Map now also take these factors into account in assessing the severity of threats businesses face around the world. The map […]
Marsh has launched an index-based insurance solution for earthquake and windstorm risks for its corporate clients with significant exposures in the United States and Europe.The instrument is intended for Marsh’s corporate clients that have significant wind and quake exposures, but are unable to purchase adequate levels of insurance. It uses the County Weighted Industry Loss […]
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