Risk
The personal lines sector is expected to remain stable for 2006 despite the losses stemming from 2005’s aggressively violent hurricane season, according to a new report from Standard & Poor’s.However, the report titled, “2006 Outlook: Personal Lines Insurance Sector Remains Stable Despite Hurricane Losses,” also states that it is likely that the profitability of personal […]
By Canadian Underwriter | December 12, 2005
1 min read
Hub International Limited (TSX:HBG) has acquired the assets of Impact Insurance Services and the consolidation of those operations with Hub International Midwest’s financial institutions business. As a direct result of this transaction, Kirby Jordan and Scott Eckerty, principals of Impact Insurance, will join Hub International Midwest (HUB Midwest) as managers of the expanded business unit. […]
By Canadian Underwriter | December 9, 2005
A.M. Best Co. recently upgraded the financial strength rating of Alberta-based Peace Hills General Insurance Company from B (Fair) to B+ (Very Good), with a stable rating. According to A.M. Best, the rating is indicative of Peace Hills’ capitalization and strong balance sheet, profitable operating performance, sound liquidity and conservative reserve position. However, partially offsetting […]
2 min read
SCOR has agreed to terms with the Alea Group regarding the acquisition of the 2006 renewal rights relating to the Alea Europe property and casualty treaty portfolio.The heads of terms include the payment in 2006 of a 9.5 % commission on gross written premiums on Alea Europe’s business renewed by SCOR in 2006. The two […]
A new report published by a panel headed by former Imasco Ltd. chairman Purdy Crawford recommends that Canadian provinces that want to form a national securities regulator should create one allowing provinces that aren’t in favour to opt out.Provinces, the report says, forming a national agency will be able to reduce costs and improve enforcement. […]
By Canadian Underwriter | December 8, 2005
Standard & Poor’s Corp. has downgraded its long-term counterparty credit and insurer financial strength ratings on the Alea Group (Alea) to ‘BBB’ from ‘BBB+’ in response to Alea’s recent announcement that Alea London Ltd. has ceased to write business and that it will sell its renewal rights for part of Alea London’s program to Canopius […]
By Canadian Underwriter | December 6, 2005
Continuing to strategic move to strengthen its presence in key North American markets, Willis Group Holdings (NYSE: WSH) recently expanded its Canadian operations into Vancouver, BC. Willis recently welcomed Maurice Gesner, Sandie Morton, and Chris Zuberec to its growing Vancouver practice.Boasting over 29 years of claims experience specializing in Marine losses, Gesner joins the Company […]
By Canadian Underwriter | December 1, 2005
CEOs of Canadian primary insurers are calling in 2006 for a steady course on pricing and “responsible” underwriting in response to their two biggest issues of the year – replenishing capital in the aftermath of US hurricanes and Canadian auto rate reforms. The CEOs were asked to predict and discuss their top trends for 2006 […]
November 30, 2005
19 min read
Plowed under by the recent hard market, snowmobilers and their provincial associations have slammed into insurance affordability and availability issues. Snowmobile associations say solutions must go beyond insurance to address risk management and legal liability protection for trail volunteers.
By Craig Harris | November 30, 2005
9 min read
The recent launch within the past six months of Integro is a little like witnessing the Big Bang Theory of the insurance industry during the new millennium. Integro, a global commercial brokerage that focuses exclusively on complex institutional risks, is a new kid on the block in Canada. Integro president and chief operating officer Peter […]
8 min read
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