Topic
Insurance
Hub acquires Seattle-based specialty brokerage
May 16, 2005 by Canadian UnderwriterBroker network consolidator Hub International Ltd. (TSX: HBG) has purchased Seattle-based Tash Lyle & Jones for an undisclosed sum. Tash Lyle specializes in employee benefits insurance.Hub says Tash Lyle will be integrated into the broker network’s Bush, Cotton & Scott…
PCI stresses need for uniform approach in finite re probes
May 16, 2005 by Canadian UnderwriterThe Property Casualty Insurers Association of America (PCI) is calling on state regulators to adopt a consistent approach in their investigations into the use of finite reinsurance transactions by insurers. The investigations launched earlier this year by the Securities Exchange…
ING launches "accident forgiveness" option for auto covers
May 15, 2005 by Canadian UnderwriterING Canada Inc. (TSX: IIC.LV) will offer its policyholders the option of an "accident forgiveness" clause on their auto insurance as from July of this year, a company statement says. The Ontario government is believed to be aggressively pushing for…
R&S Canada 1-Q’s underwriting jumps on personal lines (May 15, 2005)
May 15, 2005 by Canadian UnderwriterRoyal & SunAlliance Canada produced an underwriting profit of $14 million for the first quarter of this year, signaling a significant turnaround in overall profitability from 2004’s first quarter underwriting gain of $1 million. The insurer saw its underwriting on…
Western Financial sees strong 1-Q earnings
May 15, 2005 by Canadian UnderwriterWestern Financial Group (TSX: WES) lifted net income for the first quarter of this year by 80% to $1.1 million from the $587,000 disclosed for the same period in 2004. Earnings for the latest reporting period clocked in at 4c…
Hub gains approval for equity incentive plan
May 12, 2005 by Canadian UnderwriterHub International Ltd. (TSX: HBG) has gained shareholder approval for its 2005 equity incentive plan (EIP) and the election of new board director. Hub says that the new EIP does not increase the number of equity awards that the company…
ING posts strong 1-Q performance (May 12, 2005)
May 12, 2005 by Canadian UnderwriterING Canada Inc. (TSX: IIC.LV) notched up a return on equity of 28.9% for the first quarter of this year with net income soaring by 38% to $158.5 million compared with the $115.1 million disclosed for the same period in…
Optimum General sees 1-Q earnings boon (May 12, 2005)
May 12, 2005 by Canadian UnderwriterQuebec-based Optimum General Inc. (TSX: OGI.SV.A) lifted net income for the first quarter of this year by more than four times to $1.1 million compared with $259,000 reported for the same period in 2004. This equates to earnings for the…
What’s new: In brief (May 12, 2005)
May 12, 2005 by Canadian UnderwriterStudents Against Impaired Driving (OSAID) has announced a major sponsorship from Aviva Canada and that Aviva is the first corporate sponsor since OSAID’s inception in 1987 to provide core funding to OSAID Inc. According to OSAID, this funding will allow…
IBAM appoints new president at AGM
May 11, 2005 by Canadian UnderwriterThe Insurance Brokers Association of Manitoba (IBAM) has appointed Tony Taronno, managing partner of Winnipeg-based Horizon Tuxedo, as its president for the 2005/6 annual term. Taronno takes over the helm from George Miller who will now assume the role of…
Lindsey Morden dispels rumors of merger/disposal
May 11, 2005 by Canadian UnderwriterLindsey Morden Group Inc. (TSX: LM.SV) the holding company for the Cunningham Lindsey Group of subsidiaries has issued a statement denying rumors "circulating in the U.K. insurance press" that the company intends disposing of any of its British operations or…
Pethealth reports mixed 1-Q results
May 11, 2005 by Canadian UnderwriterPethealth Inc. (TSX: PTZ) produced a net loss of $68,505, equal to 1c a share, for the first quarter of this year compared with a loss of $75,881 (1c a share) for the same period in 2004. The company says…