Industry
Donald Alexander, senior vice president of Guy Carpenter & Company Ltd. (Canada). My instincts tell me that the reinsurance market is under-priced. Rating models strongly indicate that market prices are below what they should be. This is not surprising, given year-after-year of price erosion and expansion of coverage. My gut feeling is that any “fat” […]
August 31, 1999
2 min read
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Publicly traded broker network The Hub Group Ltd. has released its second quarter figures posting promising earnings in the face of many acquisitions. Total revenue in the second quarter amounted to $19.1 million, bringing year to date revenue to $35.2 million. The company, which went public in early 1999, is operating at a profit, with […]
3 min read
With mass consolidation converting the insurance industry into a global industry — and the increased cross-border transactions, partnerships and mergers between U.S. and Canadian insurer — it is fitting that North American insurers will meet this Fall for the first North American Insurance Conference. Co-chaired by Kingsway Financial Services Inc. president Bill Star and Serge […]
Listed broker consolidators Canada Brokerlink Inc. and Vector Intermediaries Inc. have announced their intention to merge operations with netpremium volume of $277 million. The newly formed corporation — expected to retain the Brokerlink brand name — will trade shares with existing Brokerlink stakeholders on a 2.5 to 1 basis, while existing Vector shareholders will receive […]
Risk
Global broker Willis Canada has divested its Ottawa area commercial accounts to regional broker Binks Insurance Brokers Ltd. in a move industry observers suggest could be a sign of things to come in the commercial brokerage sector. Terms of the deal were not announced, but Henry Binks, president of Binks Insurance, says total premiums after […]
Dear Editor, We read the article by Lowell Conn, titled “Faith & Honour”, in your April 1999 publication and would like to comment on a couple of statements attributed to Ginny Bannerman. Ms. Bannerman is quoted as saying, in reference to Alberta’s new Insurance Act and Alberta’s educational requirements for general insurance brokers, “the requirement […]
1 min read
Recent years have seen the emergence of ethical issues relating to multi-disciplinary professional firms such as lawyers and accountants. Questions have been raised over the role such organizations play in providing global services to companies such as insurers while maintaining confidentiality of the information handled and thereby avoiding potential conflicts of interest. A recent legal case has drawn a clearer picture of this ethical debate.
July 31, 1999
4 min read
Alan Greenspan only has to mention inflation and interest rates in the same breath to send the investments markets into spasm. His most recent economic brief, presented toward the end of July, knocked off close to 3% of the value of the Dow Jones and the TSE-300 index in a single day. The capital markets […]
By Sean van Zyl, Editor | July 31, 1999
As insurance professionals, we sell not only security, but also knowledge. Our competitive advantage is often based on what we know and how well we can apply it. This means that individually, as brokers, and collectively as an industry, learning is the key to success. Traditionally, we’ve accumulated knowledge by taking courses, reading books and […]
By Jaellayna Palmer & Peter Smith of Learn2Be | July 31, 1999
The insurance industry got off lightly from the July 16 fire at a downtown Toronto Bell Canada switching station in which phone service was cut off for 113,000 downtown homes and offices for nearly five hours. Initial estimates had the disruption caused at being over $1 billion in economic losses. This, however, was mainly attributed […]
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