Canadian Underwriter

Topic Insurers

News Insurers

Desjardins Group to raise $500 million through capital share issue

January 20, 2014 by Canadian Underwriter

 In order to “boost” its capitalization, Desjardins Group of Levis, Que. announced Monday it is issuing $500 million worth of capital shares. “Desjardins ranks among the most stable financial institutions in the world and this is in large part thanks

News InsurersMergers and Aqcuisitions

P&C consolidation has left some companies data that could serve as a competitive advantage

September 11, 2013 by Canadian Underwriter

Vast consolidation within Canada’s property and casualty industry on the carrier side has created some large organizations with a wealth of data that could offer a competitive advantage, Greg Williams, managing senior financial analyst in the property/casualty rating division at

News InsurersLegalMergers and Aqcuisitions

IME companies must focus on client service, diversify in face of regulatory changes

May 22, 2013 by Canadian Underwriter

Ongoing regulatory reform, particularly related to Ontario auto insurance, along with general industry consolidation, means Canadian independent medical evaluation companies must diversify their offerings and continue working with stakeholders, a new whitepaper from Cira Medical Services argues. Reforms in 2010

News Insurers

More activity, consolidation expected for Canada’s P&C industry: PwC official

March 25, 2013 by Angela Stelmakowich, Editor

Some property and casualty carriers are deploying multi-prong distribution strategies, which is putting pressure on the marketplace and resulting in activity on the mergers and acquisitions (M&A) front, Allan Buitendag, a partner and Canadian insurance consulting leader at PwC Consulting,

News Insurers

RRJ Insurance acquires G.B. Cragg Insurance Broker

November 22, 2012 by Canadian Underwriter

RRJ Insurance Ltd. announced it has acquired Orillia, Ont.-based G.B. Cragg Insurance Broker Ltd. G.B. Cragg, which was established in 1953, offers personal insurance, including auto, homeowner, tenant, liability and watercraft. Its commercial products include farm, bonds, auto, events and

News Insurers

Economical Insurance continues demutualization preparation with Mattei sale

October 15, 2012 by Canadian Underwriter

Economical Insurance of Waterloo, Ont. announced Monday the sale of the principal operating assets of Seattle-based Mattei Insurance Services Inc.  The sale, to Alteris Insurance Services Inc., is aligned with Economical’s “ongoing preparations for demutualization,” chief financial officer Philip Mather

News Insurers

Fairfax subsidiary RiverStone completes acquisition of Brit Insurance

October 12, 2012 by Canadian Underwriter

Fairfax Financial Holdings Ltd. of Toronto announced Friday its RiverStone runoff subsidiary has completed the acquisition of London-based Brit Insurance Ltd. Last June, Manchester, N.H.-based RiverStone reached an agreement to purchase all outstanding shares of Brit from Brit Group. At

News Insurers

AMF could limit insurance M&A after market concentration raises concerns

October 3, 2012 by Canadian Underwriter

The head of Quebec’s financial regulator sees little opportunity for more merger and acquisition activity in the province’s property and casualty insurance industry, after recent moves have caused more market concentration. The consolidation level in the Quebec P&C market is

News Insurers

Investor group to buy Cunningham Lindsey

October 1, 2012 by Canadian Underwriter

An investor group led by private equity firm CVC Capital Partners has announced it will acquire majority ownership in international claims adjuster Cunningham Lindsey after a recapitalization agreement. Stone Point Capital has had a majority ownership of Cunningham Lindsey since

News Insurers

XN Financial integrates operations from Canadian Intermediaries Ltd. under special risks brand

September 25, 2012 by Canadian Underwriter

Montreal insurance provider XN Financial Services (Canada) Inc. has integrated staff and operations from Canadian Intermediaries Ltd. under its XN Special Risks brand. “Canadian Intermediaries Ltd. has an established reputation for expertise and solutions delivery, a substantial portfolio of business

News InsurersMergers and Aqcuisitions

Kingsway Financial restructures insurance services and insurance underwriting business segments

September 17, 2012 by Canadian Underwriter

Toronto’s Kingsway Financial Services Inc. announced a restructuring of its insurance services and insurance underwriting segments on Sept. 17. Bradley Diericx will join Kingsway as executive vice president in its insurance services business. Diericx most recently worked as a partner

News Insurers

Western Financial Group acquires Winnipeg’s Orion Insurance Brokers

September 7, 2012 by Canadian Underwriter

Western Financial Group announced its acquisition of Orion Insurance Brokers Ltd. in Winnipeg on Sept. 7. Western, based in High River, Alberta, will add Orion’s Transcona office to its existing Winnipeg locations. Founded in 1993, Orion was purchased in 2008