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AXA forms Quebec bank alliance

February 1, 1999 by Canadian Underwriter

In response to the opening up of Quebec’s insurance market to the Caisse Populaire Desjardins through the controversial Bill 188 which was passed by the province last summer, AXA Insurance has entered into a marketing partnership with National Bank to

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Aces high

February 1, 1999 by Canadian Underwriter

Bermuda-based ACE Ltd., listed on the NYSE, has acquired the global property and casualty insurance operations of CIGNA Corporation for US$3.45 billion. Subject to regulatory approval by the end of June this year, the deal will be cash financed which

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Letters (February 01, 1999)

February 1, 1999 by Canadian Underwriter

Dear editor: Vibration from construction equipment, or blasting operations commonly results in claims from nearby homeowners for structural damage to their residence. It is now common to conduct pre-construction surveys of such residences to document any existing damage prior to

GULLIVER
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Hub/Co-operators on partnership bandwagon

February 1, 1999 by Canadian Underwriter

Co-operators General Insurance Company is the latest insurer to take an ownership position in a broker network, trading its equity holdings in Ontario-based Barton Insurance Brokers to the Hub Group in exchange for an approximate 10% stake of the latter’s

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Belton third-quarter predictions

January 1, 1999 by Canadian Underwriter

During the third quarter of 1998, preliminary net earning returns of Canadian property and casualty companies were down $59 million in comparison to the same quarter in 1997, says the latest issue of The Belton Report. The combined impact of

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Canada Brokerlink breaks $200 million barrier

January 1, 1999 by Canadian Underwriter

Canada Brokerlink has added two Ontario brokers pushing total annualized premium volume to more than $200 million. The publicly traded broker network acquired Hawkesbury-based Charbonneau Bercier Taillon Insurance Brokers Ltd. which has premium volume of approximately $5.1 million and Thunder

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Queensway consolidates Alliance

January 1, 1999 by Canadian Underwriter

Queensway Financial Holdings Ltd. (QFH) has entered into an agreement to acquire Alliance Insurance Group, a property and casualty insurance holding company located in Chicago, Illinois. Alliance, posting gross premiums written totalling $17 million in 1997, specializes through subsidiaries in

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Insurance fraud: The Insider Job

January 1, 1999 Linden Rees, president of Underwriters Fraud Control Inc.

Last November I provided a presentation in Boston, Mass. on “Automated Fraud Control” to an audience of senior American insurance executives. While all nodded in agreement with my salient points, that being internal fraud within the insurance industry is on the rise and needs to be addressed sooner than later, I was left with the feeling that most of the listeners were too aghast at the thought that their employees might be capable of stealing.

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RIBO meeting stresses industry SELF-REGULATION

January 1, 1999 Sean van Zyl, Editor

The last six years have seen dramatic change in the structure and method of business of the property and casualty insurance industry. These “winds of change” sweeping through the industry are primarily a result of the unprecedented consolidation activity and

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Coming Events (January 01, 1999)

January 1, 1999 by Canadian Underwriter

Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Insurance Institute of Ontario:

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Tossed Salad

January 1, 1999 Sean van Zyl, Editor

The change occurring in traditional business roles, and to some extent the outright turmoil this is causing in certain quarters of the property and casualty insurance industry, continues to hold centre stage at professional gatherings. Preparing for the future, dealing

ASHBY
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CSIO SHAKEUP

January 1, 1999 by Canadian Underwriter

Last month Howard Moran, in his capacity as board chairman of the Centre for Study of Insurance Operations (CSIO), announced the resignation of Len Ashby as the organization’s president. Although an outspoken critic of the political dabbling of both companies