Canadian Underwriter

Earnings / Ratings

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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

News Earnings / RatingsInsurance

Hub International buys four additional Alberta-based brokerages from the Phoenix Insurance Group

April 5, 2011 by Canadian Underwriter

Hub International Limited (Hub), an insurance brokerage firm, has acquired the assets of four middle market agencies that operate as part of the Phoenix Insurance Group Inc. (Phoenix), a cluster partnership of various Alberta-based brokerages. Terms of the acquisitions were

Feature Earnings / Ratings

Joint Forces

April 1, 2011 Vanessa Mariga, Associate Editor

Management groups and broker networks are becoming more popular in response to the current environment of consolidation and increased competition.

News Earnings / RatingsInsurance

QBE completes acquisition of US Renaissance Re unit

March 7, 2011 by Canadian Underwriter

QBE Insurance Group Ltd. has completed its acquisition of the US admitted insurance business of Renaissance Re.The acquisition includes a US crop and small specialist program insurance business. The cost of the transaction was $275 million. “The business acquired is

Daniel Loosemore
Feature Earnings / RatingsMergers and Aqcuisitions

Moves & Views (March 01, 2011)

March 1, 2011 by Canadian Underwriter

Travelers Canada has promoted vice president Francine Armel to lead its financial and professional services division. Armel joined Travelers Canada in 2005 in the financial and professional services division, which offers management liability and professional indemnity products for public, private

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Industrial Alliance acquires creditor insurance and replacement warranty distributors

February 15, 2011 by Canadian Underwriter

Industrial Alliance Insurance and Financial Services Inc. has signed an agreement to acquire through its affiliated companies the operations of Protection V.A.G. Inc., Communications & Références Multi Assurance Direct inc. (MAD) and Produits récréatifs Accès Inc. (Accès).VAG, Accès and MAD

News Earnings / RatingsInsurance

Everest Re Group expands further into Canadian market

February 11, 2011 by Canadian Underwriter

Everest Re Group has boosted its Canadian presence, acquiring Premiere Underwriting Services and some operations of Executive Risk Insurance Services Ltd.Premiere Underwriting Services is a Toronto-based managing general agent specializing in entertainment, sports and leisure related risks. Moving forward, Premiere

News Earnings / RatingsInsurance

A.M. Best concludes review of GCAN after RSA Canada acquisition, affirms excellent strength rating

February 8, 2011 by Canadian Underwriter

A.M. Best Co. has removed the issuer credit rating (ICR) of “a+” from under review with negative implications and affirmed the ICR and the financial strength rating of ‘A’ (Excellent) of GCAN Insurance Company (GCAN). The outlook for both ratings

News Earnings / RatingsInsurance

Demutualization of The Economical might pressure other mutuals to do the same

January 21, 2011 by Canadian Underwriter

If The Economical does in fact demutualize, as its board of directors recommended to mutual policyholders in December, there will be pressure on other mutuals – those with a narrow base of policyholder owners – to do the same.MSA Research