Canadian Underwriter

Topic
Insurance


News Insurance

Hub expands U.S. network

September 5, 2002 by Canadian Underwriter

Hub International Ltd. is expanding its U.S. brokerage network with the acquisition of New Jersey-based C.S. Nenner Inc. The new operation is being purchased by Hub’s Kaye Insurance Associates Inc. (KIA) in New York, in a deal for undisclosed amounts

News Insurance

Vector makes half year rebound, curbs debt costs

September 4, 2002 by Canadian Underwriter

Broker network consolidator Vector Intermediaries Inc. (TSX: VTE) disclosed a net profit of $307,378 for the second quarter of this year compared with the $139,701 loss reported for the same period the year previous. The company’s net earnings for the

News InsuranceMergers and Aqcuisitions

Co-operators and Newfoundland government at odds over selling practices

September 3, 2002 by Canadian Underwriter

Co-operators General Insurance Co. and Newfoundland’s Minister of Government Services and Lands Walter Noel are locked in a verbal battle over the company’s selling practices in that province. Recently Co-operators decided not to renew about 1,300 auto policies for customers

News Insurance

Lloyd’s member association calls for opposition to reforms

September 3, 2002 by Canadian Underwriter

The “widespread support” Lloyd’s claims for its market modernization plans does not include the largest association representing individual members, or “names”.The Association of Lloyd’s Members (ALM) this week advised its members through a letter to vote against Lloyd’s proposals to

News Insurance

Lloyd’s claims widespread support for reforms

August 30, 2002 by Canadian Underwriter

There is strong support for a series of reforms aimed at modernizing the world’s oldest insurance market, says Lloyd’s of London in releasing results of consultation on the reforms.The original proposals have been revised somewhat since they were first introduced

News Insurance

Industry and government groups support ban on rebuilt airbags

August 29, 2002 by Canadian Underwriter

The Collision Industry Action Group (CIAG) is applauding a decision by one government body to recommend a ban on rebuilt air bags. Following spring meetings with industry groups, the federal/provincial Canadian Council of Motor Transport Administrators (CCMTA) announced it would

News Insurance

Western Financial results on the right track (August 29, 2002)

August 29, 2002 by Canadian Underwriter

Second-quarter results for Western Financial Group (TSX: WES), formerly Hi-Alta Capital, are on track to hit the company’s yearend targets. Revenue is up 21.4% for the quarter ending June 30, 2002, to $7.6 million, versus $6.2 million in the same

News Insurance

American Re reshuffles Canadian operation

August 28, 2002 by Canadian Underwriter

The Canadian operation of American Re has been rationalized with the underwriting and marketing functions shifted to the group’s Princeton, New Jersey-based headquarters. The operational change will take effect as from September this year, says Anthony Kuczinski, president of Munich-American

News InsuranceMergers and Aqcuisitions

Nova Scotia actuarial review cites inadequate rates

August 27, 2002 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is pleased with the results of a new independent report commissioned by Nova Scotia’s Utilities and Review Board (UARB) that suggests auto insurance rates have been inadequate for at least the past five years.The

News Insurance

Claims hamper Co-operators rebound

August 26, 2002 by Canadian Underwriter

Despite encouraging half-year results, net income was down in the seoncd quarter and claims were on the rise for Co-operators General Insurance Company (TSX: CCS.PR.A).After-tax net income was down to $7.0 million for the quarter ending June 30, 2002, from

News Insurance

Canadian insurance operations strong for ING

August 23, 2002 by Canadian Underwriter

Financial services giant ING Group reports that its Canadian operations were a “solid performer” in the second quarter of 2002. Overall, the Amsterdam-based company reported net operating profit is down for the period ending June 30, 2002 to Cdn$3.5 billion,

News Insurance

Disparity likely to grow among reinsurers, says new report

August 23, 2002 by Canadian Underwriter

The gap between the world’s strongest reinsurers and the weakest is likely to widen in the current market, suggests a report from rating agency A.M. Best.The annual review of the reinsurance market notes that it was lack of attention to