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What’s new: In brief (January 06, 2005)

January 6, 2005 by Canadian Underwriter

Breckles Insurance is challenging fellow members of the Insurance Brokers of Toronto Region (IBTR) to a “fundraising challenge” to help victims of the Indonesian tsunami. Breckles’ employees will be raising as much money as they can between now and January

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Willis says reinsurers maintaining discipline on casualty business

January 6, 2005 by Canadian Underwriter

In its annual review of the global reinsurance market, broker Willis says discipline is being maintained on casualty business, although price softening is becoming evident in the aerospace and marine markets.Despite the heavy catastrophe toll in 2004 on the back

News Insurance

Conning says industry reserve position is improving

January 6, 2005 by Canadian Underwriter

In its analysis of yearend 2003 results, New York-based Conning Research says the U.S. p&c industry has strengthened its reserve position, even if further bolstering is still required.The reserve deficiency estimate based on “schedule P” filings by insurers, which covers

News Climate ChangeInsuranceMergers and Aqcuisitions

What’s new: In brief (January 05, 2005)

January 5, 2005 by Canadian Underwriter

Troubled Loyalist Insurance Group Ltd. (TSX Venture: LOY) has been downgraded to “tier 2” status by the TSX Venture Exchange. Trading in Loyalist shares was halted by the TSX on December 7, on failure to file interim financial results. The

News Insurance

ING Canada leads 2004 IPO market: PwC

January 5, 2005 by Canadian Underwriter

With 2004 marking the strongest initial public offering (IPO) market in the new millennium, ING Canada tops the list of last year’s offerings, according to research by PricewaterhouseCoopers (PwC).The ING Canada IPO had a gross value of $906.9 million, almost

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Totten Group expands Western presence

January 5, 2005 by Canadian Underwriter

Specialty insurance wholesaler Totten Group has sign a letter of intent with Alberta intermediary Davis Whitehead which will see Totten establish a presence in Western Canada.Whitehead, whose office writes primarily for Ecclesiastical Insurance Office, will continue to lead the new

News InsuranceMergers and Aqcuisitions

“Car-jacking that wasn’t” tops list of Manitoba frauds

January 5, 2005 by Canadian Underwriter

In its annual list of the “top five” frauds, Manitoba Public Insurance (MPI) has given the dubious top honors for 2004 to the victim of an imaginary ca-jacking.A 24-year-old Winnipeg man filed a claim with the public auto insurer, saying

News Climate ChangeInsurance

IUA says tsunami insured losses could reach US$10 billion

January 4, 2005 by Canadian Underwriter

London-based International Underwriting Association (IUA) says insured losses stemming from the December 26 Indian Ocean tsunami could be between US$5-$10 billion.The IUA asked member insurers for best estimates of potential losses from the event the IUA includes many London operations

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Insurers make list of “50 Best Employers”

January 4, 2005 by Canadian Underwriter

Several insurers have made the list of Canada’s “50 Best Employers”, as compiled by human resources firm Hewitt Associates and published annually in the Globe and Mail.Among those who made the cut are Sillery, Quebec-based L’Union Canadienne (#12); Guelph, Ontario-based

News Insurance

Allianz Global Risks receives provincial licenses

January 4, 2005 by Canadian Underwriter

Allianz Global Risks Canada has received its provincial licenses, following on reception of its federal license last fall.AGR Canada had been part of Allianz Insurance Co. of Canada prior to ING Canada’s acquisition of most of Allianz’s business in Canada.

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What’s new: In brief (January 04, 2005)

January 4, 2005 by Canadian Underwriter

Law firm Miller Thomson LLP has expanded its presence into Quebec, merging with Pouliot Mercure. The Montreal-based firm has 56 lawyers, bringing Miller Thomson’s total professional staff to more than 500. The Quebec office will operate under the name Miller

News Climate ChangeInsurance

Tsunami disaster leads to calls for early warning system

January 3, 2005 by Canadian Underwriter

Countries in the Indian Ocean are working on plans for an early warning system to detect future tsunamis, much like that already used off the coast of Japan.Following the December 26 tsunami disaster, which resulted from a seaquake registering 9.0