Topic
Insurance
Tredd Insurance Brokers acquires H.E. Hunt & Associates
September 6, 2012 by Canadian UnderwriterToronto’s Tredd Insurance Brokers Ltd. has announced the purchase of H.E. Hunt & Associated Ltd. Insurance Brokers. H.E. Hunt, based in Calgary, is now a wholly owned subsidiary of Tredd, but will continue to operate under its previous name. The…
Canadian P&C outlook stable to year-end: A.M. Best
September 6, 2012 by Canadian UnderwriterThe outlook for the Canadian property and casualty market for the remainder of 2012 is stable, with a low level of change to companies’ ratings, notes a senior financial analyst with A.M. Best Company. This is despite economic uncertainty in…
Low interest rates a drag on investment returns for insurance industry
September 6, 2012 by Canadian UnderwriterThe low interest rate environment and declining investment returns are putting stress on the insurance industry and having a significant impact on re/insurers, Kurt Karl, chief economist for Swiss Re, noted in a blog post on Sept. 5. “The vulnerability…
Omega appoints Matthew Cook as president
September 6, 2012 by Canadian UnderwriterOmega Insurance Holdings Inc. has announced Matthew Cook as its new president of the group, including both subsidiary companies, Omega General Insurance Company and Focus Group Inc. Cook was previously the group’s chief financial officer and company secretary. He joined…
Strong earthquake strikes western Costa Rica
September 6, 2012 by Canadian UnderwriterDamage was reported to be light despite a strong earthquake hitting Costa Rica on Sept. 5. The magnitude 7.6 earthquake struck a sparsely populated area about 150 km west of the capital city of San José, notes information from catastrophe…
Canadian Underwriter magazine Insurance Media Group Appoints Harmeet Singh to Position of Online Editor
September 5, 2012 Canadian Underwriter magazineSteve Wilson, Senior Publisher, Canadian Underwriter magazine – Insurance Media Group, is pleased to announce the appointment of Harmeet Singh to the position of Online Editor of Canadian Underwriter’s Insurance Media Group of products and websites, including CanadianUnderwriter.ca. Harmeet joins…
“Many Canadians” risk travelling uninsured: American Express
September 5, 2012 by Canadian UnderwriterMany Canadians are willing to risk travelling without insurance, often because they find the products confusing, notes new survey results from American Express Canada. About a third of the 1000 Canadians polled in July have never purchased travel insurance, American…
Intact completes acquisition of Jevco Insurance
September 5, 2012 by Canadian UnderwriterIntact Financial Corporation today announced the completion of its $530-million acquisition of Jevco Insurance Company, a wholly owned subsidiary of The Westaim Corporation. The acquisition of JEVCO, a leading provider of specialty and niche insurance products for individuals and businesses…
Relocating, flood-proofing vulnerable homes would cost about $8 million
September 5, 2012 by Canadian UnderwriterThe New Brunswick government could expect an approximately $8 million tab for relocating or flood-proofing more than 70 homes in the Village of Perth-Andover, the site of flooding in March that prompted a state of emergency. The cost estimate is…
Summer storm damage costs for Intact could reach $130 million
September 5, 2012 by Canadian UnderwriterDamage costs from severe weather across Canada are expected to reach between $110 million and $130 million after taxes, net of reinsurance, Intact Financial Corp. reports. The company is serving about 20,000 of its customers following severe storms in July…
Global reinsurance capital reaches record levels
September 5, 2012 by Canadian UnderwriterTotal global reinsurer capital totalled a record $480 billion (all figures U.S.) at the mid-year point of 2012, notes a new report by Aon Benfield, the intermediary and capital advisor of Aon. That number represents a 5% increase from year-end…
SCM Insurance Services launches new company to offer better information tools
September 5, 2012 by Canadian UnderwriterSCM Insurance Services has launched a new company to answer what it sees as increased industry demand for better business intelligence tools and enhanced access to risk information. Opta Information Intelligence will provide underwriters, brokers, corporate risk managers and municipalities…