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Brokers
ACE completes Chubb acquisition; adopts Chubb name and launches new Chubb brand
January 14, 2016 by Canadian UnderwriterACE Limited announced on Thursday that it has completed its acquisition of Chubb, creating the world’s largest publicly traded property and casualty insurance company. ACE paid approximately US$29.5 billion in the aggregate in cash and stock, based on the most…
Signature Risk Partners acquires South Western Insurance Group’s golf insurance practice
January 14, 2016 by Canadian UnderwriterToronto-based Signature Risk Partners Inc. has announced that it has purchased the commercial golf club insurance program business from South Western Insurance Group Limited, which has offices in Toronto, Quebec and Vancouver. Signature announced the acquisition this week, noting that…
Intact Insurance obtains CSIO certification for Commercial Lines eDocs
January 14, 2016 by Canadian UnderwriterIntact Insurance Company, Canada’s largest home, auto and business insurance company, has obtained certification for Commercial Lines eDocs from the Centre for Study of Insurance Operations (CSIO). “We are pleased to offer the eDocs solution to our brokers, who will…
IBAO elects Doug Heaman as new president
January 11, 2016 by Canadian UnderwriterDoug Heaman has been elected as the Insurance Brokers Association of Ontario’s (IBAO) 73rd president, officially assuming his role as of Jan. 1. Heaman was officially inducted at the IBAO Convention in Toronto in October 2015 and formally assumed his…
BrokerLink acquires Ontario’s City Insurance Offices Ltd. and Philpot & Delgaty Insurance Ltd.
January 11, 2016 by Canadian UnderwriterBrokerLink, one of Canada’s largest property and casualty insurance brokerages whose companies are subsidiaries of Intact Financial Corporation, has announced that it has acquired two Ontario insurance companies. City Insurance Offices Ltd., operating out of Sarnia and Petrolia, Ont., and…
H.W. Kaufman Financial Group acquires Ajax, Ont.-based Technical Risk Services
January 6, 2016 by Canadian UnderwriterH.W. Kaufman Financial Group announced on Wednesday that it has acquired Toronto-based Technical Risk Services (TRS), a provider of loss control services, inspections and risk control consulting. TRS is a full-service loss control inspection and consulting firm that has operated in…
Guy Carpenter reports stable capital at Jan. 1 renewals
January 6, 2016 by Canadian UnderwriterGuy Carpenter & Company, a global risk and reinsurance specialist and wholly-owned subsidiary of Marsh & McLennan Companies, announced late Tuesday that overall capital levels dedicated to reinsurance have stabilized, showing no growth for the first time in several years.…
Aviva Canada to offer personal coverage for ridesharing drivers
January 6, 2016 by Canadian UnderwriterAviva Canada announced on Wednesday that it will offer personal coverage for ridesharing drivers. Aviva Canada, a provider of home, auto, leisure/lifestyle and business insurance, announced the coverage for drivers that carry paying passengers in their own vehicles. The coverage…
Reinsurer capital down 2% to US$565 billion in 2015 Q3 from year-end 2014, but reinsurance transactions supported by high-quality capital
January 5, 2016 by Canadian UnderwriterDespite reinsurer capital being down 2% to US$565 billion in the third quarter of 2015 compared to year-end 2014, Aon Benfield’s outlook for Apr. 1, 2016 reinsurance renewals is positive, with insurers expected to see improvements in pricing terms and…
Merger of Willis and Towers Watson completed
January 5, 2016 by Canadian UnderwriterWillis Towers Watson Public Limited Company, the successful completion of the merger of Willis Group Holdings and Towers Watson, began operating on Tuesday. The company, which will do business as Willis Towers Watson, follows the merger on Monday of Willis,…
Reinsurance pricing floor remains elusive: Willis Re
January 4, 2016 by Canadian UnderwriterReinsurance rates at Jan. 1, 2016 renewals have continued to decline across the majority of markets, with Willis Re reporting Monday that earlier forecasts for a “softening in the softening” in pricing have proved illusory. “Despite the signs of pricing…
Willis reports ‘relative slowdown’ in claims for International Group of Protection & Indemnity clubs
December 22, 2015 by Canadian UnderwriterThe International Group of Protection & Indemnity Clubs, which write liability insurance for ship owners, is “in the healthiest state in its history,” while the majority of its 13 members are planning to raise premiums 2.5% on renewal in 2016,…