Canadian Underwriter

Topic
Insurance


News Insurance

New company formed as brokerages merge

December 23, 2004 by Canadian Underwriter

The merger of Toronto’s Jones DesLauriers & Firman (JDF) and Insurance Management Inc. (IMI) will create one of Canada’s largest privately-held insurance brokerages.The two brokerages announced this week that they will join forces to create a new incorporated company writing

News Insurance

Marsh & McLennan receives SEC subpoena on Trident

December 23, 2004 by Canadian Underwriter

The U.S. Securities Exchange Commission (SEC) is investigating the insurance investment funds managed by Marsh & McLennan Cos. Ltd.In a filing this week, MMC acknowledge receipt of an SEC subpoena as part of a formal investigation. “The request for information

News InsuranceMergers and Aqcuisitions

Divergent outlooks for U.S. personal v. commercial lines in 2005: S&P

December 23, 2004 by Canadian Underwriter

The future looks very different for U.S. personal lines insurance versus its commercial lines counterpart, according to the yearend review and outlook by Standard & Poor’s.The rating agency says that while the outlook for personal lines is stable, with earnings

News InsuranceMergers and Aqcuisitions

What’s new: In brief (December 23, 2004)

December 23, 2004 by Canadian Underwriter

Kingsway Financial Services and its U.S. holding company, Kingsway America Inc., have had their ratings affirmed by Dominion Bond Rating Service, based on its consistent execution of strategy and strong underwriting performance. Specific note was taken of improvement in the

News Insurance

P&C insurers continue to face reserve deficiency: Fitch

December 22, 2004 by Canadian Underwriter

Fitch Ratings says despite major moves by p&c insurers to shore up reserves over the past few years, the industry remains severely under-reserved for prior-year losses.Fitch estimates US insurers ended 2003 under-reserved by US$43.5-$61.5 billion, or 12-17% of surplus.And this

News Insurance

L&H insurers devise disclosure code

December 22, 2004 by Canadian Underwriter

Life and health insurers are following in the footsteps of their general insurance counterparts, announcing a plan for public disclosure of intermediary relationships and incentives from insurers. “”Not only in North America but around the world, developments in the financial

News Insurance

What’s new: In brief (December 22, 2004)

December 22, 2004 by Canadian Underwriter

Standard & Poor’s has affirmed the “B” counterparty credit on adjuster Lindsey Morden Group Inc., with a stable outlook. S&P says the rating reflects a positive view of the sale of the adjuster’s U.S. third-party administration business which should lead

News InsuranceMergers and Aqcuisitions

ICBC nets two guilty pleas on “false information” charges

December 22, 2004 by Canadian Underwriter

The Insurance Corp. of B.C. says two residents of the provinces have pleaded guilty to charges stemming from providing false information to the public auto insurer in two separate incidents.In the first case, Ahmad Reza Ahmadj of New Westminster, B.C.

News Insurance

U.S. insurers on track for first underwriting profit in decades

December 21, 2004 by Canadian Underwriter

U.S. insurers’ results of the first nine months of 2004 show them well on their way to the first underwriting profit in more than 25 years. According to data released by the Insurance Services Office (ISO) and Property-Casualty Insurers Association

News InsuranceMergers and Aqcuisitions

Collision repair reps meet with Colle on tow truck rules

December 21, 2004 by Canadian Underwriter

Representatives of the collision repair industry recently met with the man in charge of reforming Ontario’s auto insurance rules to discuss proposals relating to bodyshops and tow trucks.Hamilton District Autobody Repair Association (HARA) executive director John Norris says he and

News InsuranceMergers and Aqcuisitions

Pafco to begin writing in Nova Scotia

December 21, 2004 by Canadian Underwriter

Pafco Insurance Co., writer of non-standard auto insurance, has received interim approval to start writing policies in Nova Scotia.The move is part of Pembridge’s plan to spin-off Pafco as a separate brand to write high-risk policies and depopulate the Facility

News Insurance

What’s new: In brief (December 21, 2004)

December 21, 2004 by Canadian Underwriter

A.M. Best has issued an “A-” (excellent) financial strength rating to new reinsurer Glacier Re. The new Swiss company was formed by a consortium of investors, including funds advised by HBK Investments and Soros Fund Management, with reinsurance broker Benfield