Canadian Underwriter

Topic Insurers

News Insurers

U.S. private equity firm buys up Kanetix Ltd.

September 14, 2011 by Canadian Underwriter

Kanetix Ltd., a Canadian online insurance marketplace, has been acquired by Monitor Clipper Partners (MCP), a Cambridge, Massachusetts-based private equity firm. Kanetix has also named Yousry Bissada as president and CEO, effective immediately. Its co-founders, George Small and Gregory Ellis,

News Insurers

Hub International to acquire independent Manitoba brokerage Horizon Insurance

September 14, 2011 by Canadian Underwriter

Hub International Limited (Hub) has entered into a definitive agreement to acquire the operations of Horizon Insurance LP (Horizon), a full service insurance brokerage firm headquartered in Manitoba. The acquisition is expected to close in the third quarter of 2011

News Insurers

Granite Claims Solutions buys niche Toronto adjusting firm

September 9, 2011 by Canadian Underwriter

Granite Claims Solutions acquired Toronto-based BBCG Claim Services Limited. BBCG will continue to operate under the BBCG name. It is a niche-market adjusting firm specializing in surety and fidelity bonds, builders’ risk, course of construction, professional errors and omissions and

News Insurers

Solvency II could have indirect impact on Canadian market, spur M&A activity

September 8, 2011 by Canadian Underwriter

Solvency II will likely not have a direct impact on the Canadian reinsurance market, but European parent companies with Canadian branches will likely impose the requirements of the regulatory regime on their Canadian subsidiaries, said Gale Guerra, senior financial analyst

News InsurersMergers and Aqcuisitions

Western Financial Group acquires two more brokerages

August 31, 2011 by Canadian Underwriter

Western Financial Group has acquired two more insurance agencies, one in Manitoba and the other in Saskatchewan. Western Financial acquired David Duncan Insurance Agency in Gilbert Plains, Manitoba and Leith & Glassford Agency Ltd. in Rosetown, Saskatchewan. Both firms will

News InsurersMergers and Aqcuisitions

Accenture completes Duck Creek acquisition

August 23, 2011 by Canadian Underwriter

Accenture has completed its acquisition of Duck Creek Technologies, a privately held company that specializes in software solutions for the property and casualty insurance industry. The acquisition complements Accenture Software’s existing P&C component-based software platforms.“It will give Accenture an industry-leading

News Insurers

ClaimsPro completes acquisition of Brouwer Claims Canada

August 2, 2011 by Canadian Underwriter

ClaimsPro Inc., a Canadian independent adjusting company, has completed the acquisition of Brouwer Claims Canada & Co. Ltd., a Vancouver-based independent adjusting firm that has been servicing Canadian clients for more than 25 years. The transaction aligns with ClaimsPro’s strategy

News Insurers

About 10% of European insurers would fail Solvency II capital stress test based on market crash risks: EU financial regulator

July 4, 2011 by Canadian Underwriter

About 10% of European insurers would fail Solvency II minimum capital requirements under a hypothetical adverse stress scenario akin to the 2008-09 global market crash, according to the European Insurance and Occupational Pensions Authority (EIPOA).The supervisor of the financial sector

News Insurers

FIC establishes foothold in Saskatchewan market

July 4, 2011 by Canadian Underwriter

Forensics Investigations Canada (FIC) has acquired Saskatchewan-based Stealth Investigations for an undisclosed amount. Stealth’s three offices and 15 workers will continue to operate under the FIC brand. Stealth principal Stephen Clark will head up FIC’s Saskatchewan’s operations. “By joining FIC’s

News InsurersLegal

Nicholl Paskell-Mede LLP to join forces with Clyde & Co.

June 27, 2011 by Canadian Underwriter

Canadian insurance law firm Nicholl Paskell-Mede LLP (NPM) will be joining forces with U.K.-based law firm Clyde & Co. effective Sept. 1, 2011. International law firm Clyde & Co. specializes in the areas of aviation, insurance, marine, energy, construction and

News Insurers

Three Northbridge subsidiaries to operate under one brand, Northbridge Insurance

June 21, 2011 by Canadian Underwriter

Three of Northbridge Financial Corporation’s subsidiaries – Lombard Insurance, Commonwealth Insurance and Markel Insurance – will operate under one brand, Northbridge Insurance, effective Jan. 1, 2012. In a FAQ posted on its Web site, Northbridge said it is an operational

News Insurers

CNA Financial completes acquisition of CNA Surety

June 20, 2011 by Canadian Underwriter

CNA Financial Corporation has completed its acquisition of CNA Surety. CNA Surety is now a wholly owned indirect subsidiary of CNA Financial. CNA Financial and CNA Surety announced a merger agreement on Apr. 21, 2011. Under the terms of the