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How Economical could demutualize in 2021

December 22, 2020 by Greg Meckbach

Economical Insurance is aiming to have an initial public offering (IPO) of stock in 2021, making it the first ever property and casualty mutual in Canada to demutualize. “If we receive required approvals from the [federal] Minister of Finance on

News AnnouncementsMergers and Aqcuisitions

How La Capitale and SSQ came up with its post-merger brand name

December 3, 2020 by Greg Meckbach

La Capitale and SSQ Insurance, two Quebec-based mutuals that merged this past July, announced Thursday they plan to go to market as Beneva. “Beneva is an invented word. You won’t find it any dictionary,” said Jean-François Chalifoux, CEO of La

News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

Why the impact of an Intact-RSA combo would vary by province

November 6, 2020 by Greg Meckbach

Things could get interesting for brokers in Atlantic Canada if Intact takes over RSA’s Canadian operations, a Saskatchewan broker told Canadian Underwriter Friday. That being said, he felt if the proposed deal announced Thursday goes through, it would still leave

News AnnouncementsInsuranceMergers and Aqcuisitions

Intact and Tryg preparing a joint offer to acquire RSA

November 5, 2020 by David Gambrill

A consortium composed of Intact Financial Corporation and Nordic property and casualty insurer Tryg A/S is preparing a cash offer to acquire RSA plc for £7.2-billion (about Cdn$12.3 billion). Intact is Canada’s largest property and casualty insurer, with a market

News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

Shareholders approve Aon-Willis merger

August 26, 2020 by Greg Meckbach

Aon plc’s proposed acquisition of Willis Towers Watson plc was approved Wednesday by both firms’ shareholders. The merger still requires approval from competition regulators in various jurisdictions (including Canada) plus the Irish High Court. Aon and Willis Towers Watson rank

News AnnouncementsInsurance

After 40-plus years, it’s the last day on the job for industry icon J.R. (Bob) Tisdale

August 18, 2020 by David Gambrill

Canadian P&C insurance industry icon J.R. (Bob) Tisdale is stepping down today as president and chief operating officer of Pembridge and Pafco insurance companies in Canada, coinciding with his 40-year work anniversary. Allstate Insurance Company of Canada first announced his

News AnnouncementsInsurance

National mutual association president Normand Lafreniere retires

August 10, 2020 by Jason Contant

Industry veteran Normand Lafreniere, president of the Canadian Association of Mutual Insurance Companies (CAMIC), is now officially retired. In a LinkedIn post Wednesday, Lafreniere said he will continue as a consultant for CAMIC over the next few weeks, pending the

News AnnouncementsAppointmentsBrokersInsuranceReinsurance

Guy Carpenter names new head of Canadian operations

August 5, 2020 by David Gambrill

Peter Askew has been named president and CEO of the Canadian business of global reinsurance specialist Guy Carpenter & Company LLC, a business of Marsh & McLennan Companies. Effective immediately, Askew will be responsible for Guy Carpenter’s reinsurance broking activities

News AnnouncementsBrokersInsuranceMergers and Aqcuisitions

The link between the Edmonton Oilers and Arthur J. Gallagher’s latest acquisition

August 5, 2020 by David Gambrill

Arthur J. Gallagher & Co. has acquired Edmonton, Alta.-based Insight Insurance & Risk Management Ltd., the official insurance brokerage of NHL hockey’s Edmonton Oilers. Founded in 2013 by CEO Alexis Harke, Insight is a retail insurance broker serving clients throughout

News AnnouncementsCatastrophesInsuranceReinsurance

Swiss Re Group books $2.5 billion for pandemic-related losses

July 31, 2020 by David Gambrill

Swiss Re today reported COVID-19 claims and reserves totalling $2.5 billion across the Group, resulting in a net loss of $1.1 billion in the first half of 2020 (all figures in U.S. dollars). “Based on current information and a prudent

News AnnouncementsAssociationsBrokersInsurance

IBAO updates awards program to salute community leadership during the pandemic

July 30, 2020 by David Gambrill

Shortly after the World Health Organization declared the novel coronavirus to be a global pandemic, when Canadian P&C insurance industry employees first started to work from home remotely to avoid the spread of the virus, Canadian Underwriter asked brokers in

News Announcements

New boiler inspection rules coming to Ontario agriculture

July 28, 2020 by Greg Meckbach

An exemption from inspection rules for boilers and pressure vessels in Ontario’s agricultural sector is coming to an end. Starting next year, boilers and pressure vessels will have to get a certificate of inspection from the province’s Technical Standards and