Canadian Underwriter

Earnings / Ratings

News Earnings / RatingsInsurance

Hub International to acquire independent Manitoba brokerage Horizon Insurance

September 14, 2011 by Canadian Underwriter

Hub International Limited (Hub) has entered into a definitive agreement to acquire the operations of Horizon Insurance LP (Horizon), a full service insurance brokerage firm headquartered in Manitoba. The acquisition is expected to close in the third quarter of 2011

News Earnings / RatingsInsurance

Granite Claims Solutions buys niche Toronto adjusting firm

September 9, 2011 by Canadian Underwriter

Granite Claims Solutions acquired Toronto-based BBCG Claim Services Limited. BBCG will continue to operate under the BBCG name. It is a niche-market adjusting firm specializing in surety and fidelity bonds, builders’ risk, course of construction, professional errors and omissions and

News Earnings / RatingsInsurance

Solvency II could have indirect impact on Canadian market, spur M&A activity

September 8, 2011 by Canadian Underwriter

Solvency II will likely not have a direct impact on the Canadian reinsurance market, but European parent companies with Canadian branches will likely impose the requirements of the regulatory regime on their Canadian subsidiaries, said Gale Guerra, senior financial analyst

Feature Earnings / Ratings

M&A Fireworks

September 1, 2011 David Gambrill

Between 2005 and 2007, analysts routinely predicted an exciting explosion of mergers and acquisitions activity in the fragmented Canadian P&C market. But not much happened, and then the financial crisis doused the party in 2008-09. Now, M&A activity seems to be lighting up the Canadian P&C landscape. Do these deals suggest future M&A fireworks, or are they a prelude to a dud?

Feature Earnings / RatingsLegal

International Reach

September 1, 2011 David Gambrill, Editor

Insurance law is globalizing, and international networks of independent law firms present an attractive alternative to a merger between individual firms.

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Western Financial Group acquires two more brokerages

August 31, 2011 by Canadian Underwriter

Western Financial Group has acquired two more insurance agencies, one in Manitoba and the other in Saskatchewan. Western Financial acquired David Duncan Insurance Agency in Gilbert Plains, Manitoba and Leith & Glassford Agency Ltd. in Rosetown, Saskatchewan. Both firms will

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Accenture completes Duck Creek acquisition

August 23, 2011 by Canadian Underwriter

Accenture has completed its acquisition of Duck Creek Technologies, a privately held company that specializes in software solutions for the property and casualty insurance industry. The acquisition complements Accenture Software’s existing P&C component-based software platforms.“It will give Accenture an industry-leading

News Earnings / RatingsInsurance

ClaimsPro completes acquisition of Brouwer Claims Canada

August 2, 2011 by Canadian Underwriter

ClaimsPro Inc., a Canadian independent adjusting company, has completed the acquisition of Brouwer Claims Canada & Co. Ltd., a Vancouver-based independent adjusting firm that has been servicing Canadian clients for more than 25 years. The transaction aligns with ClaimsPro’s strategy

Feature Claims CanadaEarnings / Ratings

Licensed medical doctors, neuropsychologists should lead catastrophic impairment assessment: panel recommendation

July 31, 2011 by

Ontario’s Catastrophic Impairment Panel is calling for medical doctors or doctorate-level neuropsychologists (in the case of brain injuries) to be the lead evaluators in the assessment of people with catastrophic impairments arising from auto injuries. FSCO established the panel of

News Earnings / RatingsInsurance

About 10% of European insurers would fail Solvency II capital stress test based on market crash risks: EU financial regulator

July 4, 2011 by Canadian Underwriter

About 10% of European insurers would fail Solvency II minimum capital requirements under a hypothetical adverse stress scenario akin to the 2008-09 global market crash, according to the European Insurance and Occupational Pensions Authority (EIPOA).The supervisor of the financial sector

News Earnings / RatingsInsurance

FIC establishes foothold in Saskatchewan market

July 4, 2011 by Canadian Underwriter

Forensics Investigations Canada (FIC) has acquired Saskatchewan-based Stealth Investigations for an undisclosed amount. Stealth’s three offices and 15 workers will continue to operate under the FIC brand. Stealth principal Stephen Clark will head up FIC’s Saskatchewan’s operations. “By joining FIC’s

Feature Earnings / RatingsMergers and Aqcuisitions


July 1, 2011 by Canadian Underwriter

Regulation OSFI calls for global insurance capital standards Global insurance capital standards would prevent the possibility of companies taking advantage of differences between capital charges across regulatory jurisdictions, according to Canada’s solvency regulator. Julie Dickson, superintendent of the Office of