Canadian Underwriter

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Earnings / Ratings


News Earnings / RatingsInsurance

What’s New: In Brief (January 07, 2010)

January 7, 2010 by Canadian Underwriter

Hub International Limited (Hub) has acquired Ogilvy, Gilbert, Norris & Hill d/b/a Ogilvy Hill Insurance (OHI), in addition to the commercial lines and life and health books of business of Wescom Insurance Services LLC (Wescom). OHI is a Santa Barbara,

News Earnings / RatingsInsurance

Regulators reach settlements in asset-backed commercial paper investigations

December 23, 2009 by Canadian Underwriter

The Ontario Securities Commission, autorité des marchés financiers (AMF), and the Investment Industry Regulatory Association of Canada have reached settlements in connection with the investigations into the Canadian asset-backed commercial paper (ABCP) market.In total, Cdn$138.8 million in administrative penalties and

News Earnings / RatingsInsurance

What’s New: In Brief (December 04, 2009)

December 4, 2009 by Canadian Underwriter

Etienne Dubé has returned to lead Aon Consulting Canada’s financial risk consulting (FRC) practice. He has been working out of the Montreal office since Nov. 23.The FRC practice offers customized strategic risk management and investment advice solutions, by identifying, quantifying

News Earnings / RatingsInsuranceMergers and Aqcuisitions

What’s New: In Brief (October 19, 2009)

October 19, 2009 by Canadian Underwriter

Kingsway America Inc. (KAI), an indirect, wholly-owned subsidiary of Kingsway Financial Services Inc., has disposed of its entire interest in Walshire General Assurance Company. Walshire is the sole shareholder of Lincoln General Insurance Company, now in run-off. “All of the

News Earnings / RatingsInsurance

B.C. regulator drafts legislation in response to concerns about Part XIII amendments

October 2, 2009 by Canadian Underwriter

Amendments to Part XIII of the federal Insurance Companies Act make it easier for a bogus insurer to operate outside the Canadian regulatory regime and yet do business in Canada, said Alan Clark, superintendent of the Financial Institutions Commission of

News Earnings / RatingsInsurance

JEVCO assuming assets and liabilities of Kingsway General Insurance

September 23, 2009 by Canadian Underwriter

JEVCO Insurance Company will assume the assets and liabilities of Kingsway General Insurance Company (KGIC), effective Oct. 1, 2009, subject to regulatory approval. Both KGIC and JEVCO are subsidiaries of Kingsway Financial Services Inc. (Kingsway).JEVCO will be Kingsway’s marketing brand

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Co-operators Life and Central 1 Credit Union to buy CUMIS Group Ltd. for Cdn$232 million

September 18, 2009 by Canadian Underwriter

Co-operators Life Insurance Company and Central 1 Credit Union (Central 1) have announced an agreement to acquire The CUMIS Group Limited (CUMIS) for approximately Cdn$232 million.The deal is subject to regulatory, shareholder and court approvals and other standard closing conditions.

News Earnings / RatingsInsurance

Marsh Inc. acquires Bermuda captive manager

September 18, 2009 by Canadian Underwriter

Marsh Inc. has announced the acquisition of International Advisory Services Ltd. (IAS), a captive and third-party insurance company in Bermuda. Terms of the transaction were not disclosed.“The acquisition strengthens Marsh’s position as a global leader in managing captive insurance companies

News Earnings / RatingsInsurance

Manitoba brokerages announce merger

September 9, 2009 by Canadian Underwriter

Manitoba-based brokerages Horizon Insurance and Ryan Gateway Insurance Brokers have announced a merger of operations.A release describes the merger as “the coming together of the oldest and the largest local insurance brokers in Manitoba.” Ryan Gateway Insurance Brokers has provided

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

What’s New: In Brief (September 09, 2009)

September 9, 2009 by Canadian Underwriter

Kingsway Financial Services Inc. (TSX: KFS NYSE: KFS) has entered into a definitive agreement to sell Zephyr Insurance Company, Inc. Kingsway anticipates receiving initial gross proceeds from the transaction of US$31.5 million, plus a contingent, deferred earn-out amount. The deal

News Earnings / RatingsInsurance

Western Financial Group acquires Winnipeg-based insurance broker Hayhurst Elias Dudek (HED)

September 9, 2009 by Canadian Underwriter

Western Financial Group has agreed to acquire all issued and outstanding shares of Winnipeg-based Hayhurst Elias Dudek (HED) Inc. and its subsidiaries, including Securican General Insurance Company.The transaction has been approved by all applicable regulatory bodies and is scheduled to

News Earnings / RatingsInsurance

Increase in M&A for global insurance industry likely: Willis

September 8, 2009 by Canadian Underwriter

The global insurance industry will see a pick up in mergers & acquisitions (M&A) activity in 2010, according to Tony Ursano, CEO of Willis Capital Markets & Advisory.Ursano made the comment at an industry event in London on Sept. 8,