Canadian Underwriter

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Earnings / Ratings


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

News Earnings / RatingsInsurance

RSA finalizes GCAN acquisition

January 10, 2011 by Canadian Underwriter

RSA Canada finalized its acquisition of GCAN Insurance, the second-largest insurance transaction of the past decade in Canada.RSA announced in Oct. 2010 that it agreed to acquire GCAN, a Canadian mid-market, large risks and specialty commercial insurer with gross written

News Earnings / RatingsInsurance

Desjardins Financial Group makes $443-million cash offer to buy Western Financial Group

January 4, 2011 by Canadian Underwriter

Desjardins Financial Group has made a $443-million, all-cash offer to buy Western Financial Group (TSX:WES), the largest insurance and financial services retailer in Western Canada.The transaction contemplated by the offer will be carried out by way of a take-over bid

David Gambrill, Editor
Feature Earnings / Ratings

Holiday Shopping Season (January 01, 2011)

January 1, 2011 by Canadian Underwriter

This holiday shopping season was a busy one in Canada — and not just for consumers. Canadian property and casualty companies were clearly in a shopping mood, with several major deals or potential deals announced in December. As we go

Feature Earnings / Ratings

Demutualizing The Economical

January 1, 2011 David Gambrill, Editor

Following the path of Canadian life insurers, The Economical Mutual Insurance Company is publicly contemplating a strategy to demutualize, but the path for P&C insurers may lie in a different regulatory direction.