This month federal Finance Minister Paul Martin will release his report outlining the proposed future of financial institutions in Canada. With brokers and insurers weary of banks being allowed to retail insurance out of their branches, the associations are standing…
The new president of the Insurance Brokers Association of Manitoba (IBAM) Ron Vandenbosch says the battle against banks retailing insurance is the top concern expressed by his constituents at the recent IBAM annual general meeting in Winnipeg. Asked to list…
Arecent tornado that hit Oklahoma has become the worst insured catastrophe in the state’s history, according to preliminary information released by the Property Claim Services (PCS) unit of Insurance Services Office (ISO). The storm system caused $955 million in insured…
Dallas, Texas was the site of the Risk & Insurance Management Society’s recent 37th annual conference and exhibition where 4500 delegates met, networked, and examined a profession undergoing large-scale transformation.
AIG recently held it’s first Canadian Product Fair in Toronto at the Roy Thompson Hall. Greg Flood (pictured), president of AIG’s mergers & acquisitions division, was one of several speakers addressing the 600 attendees. Flood points out that the surge…
The City of Toronto’s new mandatory mediation program could result in quicker and more efficient resolutions of insurance lawsuits, lawyer Paul Iacano told a packed conference room at a seminar at the recently held Claims ’99 Ontario Insurance Adjusters Association…
Forecasting the U.S. insurance industry in recent years has been a rear view mirror exercise. The rate of growth in the industry has been in the same 2% to 3% range and profitability indicators have shown little change from year…
Despite plummeting international commodity values — which over the last decade have made mining equities less than the darlings of stock markets — the Canadian mining industry is expanding at a healthy clip. It is estimated that 100 new mines…
Lewis & Wright Insurance Inc. of Grand Prairie and Soltys Insurance Services Ltd. of Edson, represent the two latest Alberta acquisitions by broker network Hi-Alta Capital Inc. (TSE:HIA). Lewis & Wright will add $6 million in premium to the network,…
Equisure Financial Network Inc. (TSE: EFN) has entered into an agreement to acquire Sudbury-based Dinan Insurance Brokers and Financial Services Ltd., a multi-line general insurance and financial service brokerage. The undisclosed purchase price will be paid partly in cash and…
TSE-listed Queensway Financial Holdings (QFH) posted a 59% drop in earnings a share to 52c for the financial year ended December 1998 compared with the previous year. The company’s directors attribute the earnings decline primarily as a result of a…
St. Paul Companies, an insurance and reinsurance group and the parent of St. Paul Canada — has released its yearend 1998 figures posting a dramatic decrease in earnings over 1997. Net income plummeted from 1997’s US$929 million to $89.3 million…