Industry
In a deal valued at $139.5 million, CGU Canada Ltd. has purchased The GAN Company of Canada Ltd. from its French owner GAN International. GAN Canada is the 22nd largest property & casualty group in the country with net written premiums for 1998 of $195 million, amounting to just over 1% of the total market. […]
September 30, 1999
2 min read
Risk
Individual Registrants 14,311 14,372 14,256 14,067 Active Businesses *1,524 *1,592 *1,692 1,848 Average Number 9.4 9.0 8.4 7.6 of Registrants per Business source: ribo RIBO outline of the function of a BROKER VERSUS AGENT: BROKER: A Broker is an independent intermediary between the parties to an insurance contract (i.e. the insurer and the insured). A […]
By Sean van Zyl, Editor | September 30, 1999
15 min read
Ontario's collision repair industry is undergoing fundamental change -- however, it is a change that spells good news for a besieged industry, insurers as well as a beleaguered consumer.
8 min read
The recent acquisition of insurance wholesale broker KMS Insurance by consolidator The Hub Group emphasizes the change consolidation is bringing about throughout the broker distribution channel. Wholesale brokers and managing general agents have been brought into the market fray of soft rates and the eternal drive for cost-efficiency. Is there a future for this particular breed of broker -- most of the players believe so, but each appears to be taking a different course.
By Lowell Conn | September 30, 1999
5 min read
Does the next millennium begin officially on January 1, 2000 or January 1, 2001? That debate is better left to the academics. What is certain is that January 1, 2000 is the date computers must recognize. It is also the date which could signal the beginning of the biggest litigation attack to hit North America. […]
By Steve Hammond, leader of commercial underwriting practices at Ro | September 30, 1999
6 min read
If anyone harbored doubts of the political clout capable of the independent broker movement in protecting its business turf, such a notion would have been soundly thrashed by the highly effective campaign wielded against the banks in the latest round of federal regulatory reform of financial services. The federal government’s white paper on financial services […]
4 min read
Claims
A dramatic rise in revenue — attributed to the inclusion of extensive international acquisitions in 1998 — and a corresponding decline in net earnings characterisze the second quarter results released by Lindsey Morden Group Inc., parent company of adjusters Cunningham Lindsey. Revenues at the six quarter mark of 1999 have hit $217.8 million compared to […]
1 min read
Canadian and U.S. property and casualty insurance results for the first half of 1999 show a marked decline in earnings, primarily due to weak investment returns and sluggish premium growth. Both the Canadian and U.S. industries witnessed a rise in loss ratios for the second quarter when compared with the figures for the same period […]
3 min read
Co-operators General Insurance Company has released its second quarter results showing a marked improvement in its operating ratio over last year’s figures. The combined ratio of claims and operating expenses dropped to 98.5% during the second quarter of 1999 compared to 103% during the same quarter in 1998. Gross written premiums in 1999’s second quarter […]
Brian Johnston, the former president of Liberty Canada Holdings and Cigna Insurance Company of Canada, has launched a new low-cost general insurance company, Markham General Insurance Company. The operation is capitalized at $20 million. Financially backed by a group of 22 brokers and an U.S. private investment fund arranged by managers Dailey & Partners, the […]
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