Operations
The new ombudservice for p&c insurers received 37,000 calls between July and December of last year. Fortuntaly for insurers, only 17 of those calls have proceeded to mediation, reports the General Insurance Ombudservice (GIO).The GIO was created last year, and started operation in July, as a national service to field consumer complaints and questions regarding […]
By Canadian Underwriter | February 25, 2003
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The Co-operators Group has named Kevin Daniel its new senior vice president, finance, and CFO. Daniel has been with The Co-operators for 16 years in a variety of roles and succeeds Peter Crawford, who retires in April after more than 15 years in the position. The Insurance Brokers Association of Canada (IBAC) has appointed Dan […]
January 31, 2003
Broker consolidator Hub International Ltd (TSX, NYSE: HBG) has acquired Cincinnati-based Fifth Third Insurance Services Inc. from Fifth Third Bancorp, creating a midwest “hub”.Hub paid $37 million cash for the agency, which has annual revenue of US$25 million from its p&c and employee benefits business. Fifth Third’s life and title insurance business has been acquired […]
By Canadian Underwriter | January 2, 2003
Broker consolidator Hub International Ltd. (TSX, NYSE: HBG) has issued earnings guidance suggesting it will increase earnings for the 2002 yearend and into 2003.Hub expects Canadian GAAP earnings of US$0.22-$0.24 pre diluted share in the fourth quarter of this year, bringing yearend earnings to US$1.01-$1.02 per share, which the company had targeted.The company also expects […]
By Canadian Underwriter | December 12, 2002
Wawanesa Mutual has teamed up with EDS Canada to implement a new technology infrastructure to address key business practices including policy management and claims. The system is meant to be adaptable to future IT initiatives without interrupting workflow. “At Wawanesa our over-riding concern is the customer,” says CEO Gregg Hanson, “but we need the best […]
November 30, 2002
Broker network consolidator Hub International Ltd. (TSE: HBG) has announced an initial U.S. public offering of 6,000,000 common shares priced at US$14 a share. Hub International has granted the PO’s underwriters an option to offer up to 900,000 additional shares to cover over-allotments, The new common shares will begin trading on the New York Stock […]
June 30, 2002
Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Barrie-Simcoe Insurance Brokers Association Golf Tournament. Bear Creek G.C., Utopia, ON. Contact Jeff Krause at 705-726-0231 or jeffk@sarjeantinsurance.com for […]
May 31, 2002
With the technology ready to go, now it is time to get brokers and insurers on board with the Centre for the Study of Insurance Operations (CSIO) portal, the industry heard at CSIO’s recent AGM. “Gaining critical mass is a key to the portal’s ultimate success,” says CSIO president Klaas Westera, adding that he feels […]
April 30, 2002
Broker consolidator Hub International Ltd. (TSE:HBG) is making more moves into the U.S., filing for an initial public offering (IPO) of its common shares with the U.S. Securities and Exchange Commission. The proposed offering comes on the heels of Hub’s fourth quarter and yearend results, which show the consolidator’s latest acquisitions have helped revenues grow […]
March 31, 2002
Canadian-based broker consolidator Hub International Ltd. (TSE:HBG) is making more moves into the U.S., filing for an initial public offering (IPO) of its common shares with the U.S. Securities and Exchange Commission.The proposed offering comes on the heels of the release of Hub’s fourth quarter and yearend results, which show the consolidator’s latest acquisitions have […]
By Canadian Underwriter | March 22, 2002
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