Industry
A.M. Best has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of ‘a-‘ to Saskatchewan Mutual Insurance Company. The outlook for the ratings is stable. “The ratings and outlook for SMI are reflective of the company’s strong risk-adjusted capitalization, favourable balance sheet liquidity measures and modest underwriting leverage,” an A.M. […]
By Canadian Underwriter | January 26, 2011
1 min read
British Columbia is holding the largest earthquake drill ever to take place in Canada, with more than 400,000 participating on Jan. 26. The Great British Columbia ShakeOut is being held across the province. Nearly 500,000 people will participate in their homes, schools, businesses and government offices. The drill is designed to educate people about how […]
***CORRECTION: The Capital City Condors are from Kanata, Ontario, not ‘Kenora,’ as previously reported. Canadian Underwriter apologizes for the error. Aviva Canada Inc. has announced the 10 recipients of its second Aviva Community Fund competition. The competition awards a total of $1 million to diverse local projects in communities across the country. Eligible projects were […]
By Canadian Underwriter | January 25, 2011
2 min read
CARSTAR Automotive Canada has expanded its network in Alberta with the addition of a 10,800-square-foot production area in Calgary East Lake. The Calgary East Lake facility is one of the largest CARSTAR Collision centres in the network. It’s the fourth location co-owned and operated by three business partners: Chris Stathonikos, his son Matthew Stathonikos and Dave Stretz. […]
The retrocessional reinsurance market is enduring a pricing environment of flat to minus 10% off rate for loss-free cat retro and cat on direct and facultative programs at Jan. 1, 2011 renewals, Guy Carpenter reported. There has been significant international catastrophe loss activity in 2010. Estimates for these losses are being steadily revised upwards, which […]
Totten Insurance Group Inc. (Totten), one of Hub International Limited (Hub)’s wholesale insurance brokerage operations, has acquired the assets of CULE Insurance (CULE), effective Jan. 31, 2011. Terms of the acquisition were not disclosed. The CULE operations will become part of Totten’s Toronto office. Ken Rayner, president of CULE, will be joining the senior leadership […]
Commercial property and casualty insurance rates were flat in 2010 Q4 when compared to the same period of 2009, but a hardening of the commercial P&C insurance market is not imminent, Advisen reported in the Risk and Insurance Management Society (RIMS)’s 2010 Q4 Benchmark Survey. Average renewal premiums for commercial lines property and casualty insurance […]
By Canadian Underwriter | January 24, 2011
York Fire & Casualty Insurance Company has implemented Brovada Technologies Inc.’s NexCenter to allow brokers to perform real-time transactions directly from the broker management systems (BMS). NexCenter includes an insurer connectivity module, formerly known as Nexisys, that connects BMS to insurer systems for real-time processing of inquiry, new business and endorsement transactions, a York Fire […]
The Canadian operations of RSA drove the insurer’s international growth, with premiums of $1.98 billion in 2010, marking a 22% increase. The personal lines segment of RSA’s Canadian operations saw a 20% increase in premiums last year – including Johnson, which increased its premiums by 22%. Commercial lines saw a 29% increase in premiums during […]
CSN Collision & Glass (CSN) has introduced two new locations in Calgary, Alberta. Concours Collision Crowfoot and Concours Collision South have both become members of CSN Collision & Glass.For 30 years, Concours owner Ken Friesen not only built two successful collision repair centres, he was also a dedicated contributor to the overall improvement of the […]
By Canadian Underwriter | January 21, 2011
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