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Western Financial Group acquires Victoria-based insurance brokerage

May 18, 2012 by Canadian Underwriter

Western Financial Group has completed its first acquisition in British Columbia’s capital with the purchase of Hodges & Company Insurance Services Ltd. “After establishing Western in other parts of the province, it is truly exciting to see our name in

News Insurers

The Co-operators to acquire G&F Insurance

May 14, 2012 by Canadian Underwriter

The Co-operators has announced its intention to acquire G&F Financial Group’s general insurance assets and Autoplan appointment. The deal is subject to regulatory approval and is expected to close June 30, 2012, reports The Co-operators, a Canadian-owned multi-product insurance company.

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FSCO proposes aligning Ontario’s solvency standards with international standards

May 11, 2012 by Canadian Underwriter

There would be no need for Ontario to maintain a separate and duplicative solvency regime for the few such companies that remain in the province under a Financial Services Commission of Ontario (FSCO) proposal. FSCO’s consultation paper, Improving Solvency Supervision

News InsurersMergers and Aqcuisitions

EGI Financial acquires CUISA Managing General Agency

May 4, 2012 by Canadian Underwriter

EGI Financial Holdings Inc. has acquired CUISA Managing General Agency. Based in B.C., CUISA MGA provides insurance services to 160 credit union-owned insurance broker offices across the province. By gaining access to distribution through credit unions, the acquisition means EGI

News Insurers

Mutuals should handle diversification with caution: Willis Re

May 2, 2012 by Canadian Underwriter

Although some mutuals are being encouraged to explore new lines of business or enter new territories, a report from Wills Re cautions this is intrinsically riskier for the insurers, adding that mutuals should ensure any such move is a good

News InsurersMergers and Aqcuisitions

Intact to acquire JEVCO for $530 million

May 2, 2012 by Canadian Underwriter

Intact Financial Corporation (TSX: IFC) has entered into an agreement to acquire JEVCO Insurance Company from The Westaim Corporation (TSX: WED) for $530 million. JEVCO is a provider of specialty and niche products for individuals and businesses in Canada with

News InsurersMergers and Aqcuisitions

Markham General insolvency a case study in trying to grow too quickly: PACICC report

April 17, 2012 by Canadian Underwriter

Absent realistic forecasting, a solid business plan and adequate pricing, trying to grow too quickly and aggressively can serve as ingredients in the recipe for disaster, noted a paper released by the Property and Casualty Insurance Compensation Corporation (PACICC) on

News Insurers

A.M. Best affirms ‘A+’ financial strength rating for Intact

April 5, 2012 by Canadian Underwriter

A.M. Best has affirmed Intact Insurance Group’s financial strength rating of ‘A+’ after its acquisition of AXA Canada. The ratings agency announced it has removed from under review with negative implications and affirmed the financial strength ratings (FSR) of A+

News InsurersMergers and Aqcuisitions

Cunningham Lindsey is up for sale

April 2, 2012 by Canadian Underwriter

Insurance claims management company Cunningham Lindsey is up for sale at an estimated price tag of about $1 billion, according to reports from various media sources. Both Thomson Reuters business news agency and digital news service Post cited sources

News InsurersMergers and Aqcuisitions

SCM Risk Management Services acquires Syntech Associates

March 19, 2012 by Canadian Underwriter

Risk inspection company SCM Risk Management Services (RMS) has completed its acquisition of Syntech Associates, an independent risk inspection company based out of Calgary, Alberta. Syntech Associates has been delivering residential inspections to Western Canadian clients for more than 25

News InsurersMergers and Aqcuisitions

Canada can expect to see more intense wildfires in the future: scientist

February 22, 2012 by Canadian Underwriter

Canadians can anticipate more intense wildfires that are too difficult to stop using traditional fire fighting techniques, according to Mike Flannigan, a senior research scientist with Natural Resources Canada. Flannigan presented his team’s latest research in Vancouver at the annual

News InsurersMergers and Aqcuisitions

Alberta brokerages merge under the Alpine Insurance & Financial banner

February 22, 2012 by Canadian Underwriter

Westland Insurance (AB) Inc. and Alpine Insurance & Financial Inc. have merged and will operate under the Alpine name. Alpine has five offices, located in Canmore, Lethbridge, Red Deer, Edmonton and Calgary. Westland’s office in Calgary will become the new