Canadian Underwriter

Earnings / Ratings

News Earnings / RatingsInsurance

ClaimsPro acquires Vancouver-based adjusting firm

June 15, 2011 by Canadian Underwriter

ClaimsPro Inc. has inked a deal to acquire Brouwer Claims Canada, a Vancouver-based independent adjusting firm that has been servicing Western Canada for over 25 years.The acquisition provides ClaimsPro with an additional 20 branch offices. Combined, ClaimsPro and Brouwer will

News Earnings / RatingsInsurance

Transatlantic Re to merge with Allied World Assurance Company

June 13, 2011 by Canadian Underwriter

Transatlantic Holdings Inc. (NYSE: TRH) and Allied World Assurance Company Holdings AG will merge to form a global specialty insurance and reinsurance company under a holding company structure with the name TransAllied Group Holdings AG.The merger is expected to be

News Earnings / RatingsInsurance

Intact to drop AXA name six months after acquisition, promises relationships with brokers will remain the same

June 10, 2011 by Canadian Underwriter

Intact Financial Corporation’s acquisition of AXA Canada, announced on May 31, will ultimately result in the disappearance of AXA Canada’s brand name, but brokers can expect no cuts in commissions or in how the new, bigger Intact will work with

News Earnings / RatingsInsurance

Western Financial Group acquires three Western Canadian independent brokerages

June 3, 2011 by Canadian Underwriter

Western Financial Group has acquired three independent brokerages based in Western Canada – Keenleyside Insurance Services in Terrace, B.C., Berwyn Insurance in Berwyn, Alberta and Bell & Cross Insurance Agency Ltd. in Winnipeg, Manitoba.The Winnipeg and Terrace agencies will be

News Earnings / RatingsInsurance

Novae Group evaluating merits of acquiring Omega Insurance Holdings

June 1, 2011 by Canadian Underwriter

Novae Group plc has confirmed in a statement on its Web site it is “currently undertaking due diligence in evaluating the merits of proposing a possible merger” with Omega Insurance Holdings.“In accordance with the Group’s publicly stated strategy, Novae routinely

News Earnings / RatingsInsurance

Intact buys AXA Canada for $2.6 billion

May 31, 2011 by Canadian Underwriter

Intact Financial Corporation (TSX: IFC) has signed a definitive agreement with Paris-based AXA Group for the acquisition of its affiliate AXA Canada – the sixth-largest home, auto and business insurance company in the country – for $2.6 billion in cash.

Feature Claims CanadaCommercial LinesEarnings / Ratings

F4 tornado in downtown Toronto would cause $4 billion in losses

May 31, 2011 by

If an F4 tornado – which packs wind speeds of between 333 km-h and 418 km-h – ripped through downtown Toronto, it could potentially cause up to $4 billion in losses, said Matthew Nielsen, senior product marketing manager of natural

Feature Claims CanadaCommercial LinesEarnings / Ratings

Building Defects

May 31, 2011 Stephen Blaney and John McGlone

Claims for moisture penetration in new buildings continues to rise

News Earnings / RatingsInsuranceLegal

Auctions carry regulatory risk and uncertainty in M&A scenarios: commercial lawyer

May 27, 2011 by Canadian Underwriter

Insurers being sold through an auction channel, rather than through a traditional acquisition deal, face greater regulatory risk and uncertainty of the transaction being completed, said Brian Rose, senior partner with Stikeman Elliott’s corporate commercial section.Rose spoke as a panel

News Earnings / RatingsInsurance

OSFI casts a watchful eye on risks associated with a prolonged, uneven global financial recovery

May 19, 2011 by Canadian Underwriter

Canada’s solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), is casting a watchful eye on the interconnected financial risks associated with a prolonged global economic recovery.In response, the regulator has made it a priority to address capital

News Earnings / RatingsInsurance

Success of start-up Canadian P&C companies influenced by senior managerial experience: PACICC report

April 27, 2011 by Canadian Underwriter

When it comes to the success of new entrants into the Canadian property and casualty insurance market, managerial experience matters, according to a new report by the Property and Casualty Insurance Compensation Corporation (PACICC).The report, Determinants of survivability of new

News Earnings / RatingsInsurance

PACICC makes it a priority in 2013 to analyze role of actuaries in loss reserving best practices, supervisory practices

April 27, 2011 by Canadian Underwriter

The Property and Casualty Insurance Compensation Corporation (PACICC) – which protects Canadian policyholders from a loss in the event of an insurance company insolvency – plans to examine best practices in loss reserving in 2013.The analysis would include how actuarial