Topic Insurers
H.W. Kaufman Financial Group acquires Chesterfield Canada Inc.
January 27, 2012 by Canadian UnderwriterThe H.W. Kaufman Financial Group, parent company of wholesale broker and underwriting manager Burns & Wilcox, has acquired Chesterfield Canada Inc. as part of a broader deal announced on Jan. 27. The larger transaction involves Kaufman Financial Group purchasing Chesterfield…
Insurers can still grow despite a tough economy: Deloitte LLP report
January 18, 2012 by Canadian UnderwriterInsurance companies need to break out of a classic, “chicken-and-egg” scenario to generate growth in a tough economy, a Deloitte LLP report says.The title of the report states its central thesis: 2012 Global Insurance Outlook: Generating growth in a challenging…
Intact completes sale of AXA Life Insurance to SSQ Life Insurance
January 4, 2012 by Canadian UnderwriterIntact Financial Corporation (TSX: IFC) has officially completed the $300 million sale of AXA Life Insurance Inc. to SSQ, Life Insurance Company Inc. AXA Life Insurance Inc. was acquired in September 2011 by IFC as part of the $2.6-billion acquisition…
Western Financial acquires Manitoba brokerage
January 3, 2012 by Canadian UnderwriterWestern Financial Group has acquired Roblin Insurance Travel and Realty Agencies Ltd. in Roblin, Manitoba. Founded in 1976, the Roblin brokerage will now operate as a Western Financial Group office. Terry Hawryluk will oversee the branch.“We will be bringing a…
SCM purchases independent medical assessment division of Medisys
December 9, 2011 by Canadian UnderwriterSCM Insurance Services has purchased the independent medical assessment division of Medisys, SCM’s second acquisition of an independent medical examiner (IME) in 30 days. Medisys is a national provider of preventive health programs, independent medical assessments, travel health and medical…
Intact-AXA merger will affect P&C marketplace on a grander scale than demutualization: The Economical executive
November 30, 2011 by Canadian UnderwriterIntact’s acquisition of AXA will have a larger impact on the Canadian property and casualty marketplace than if The Economical, Wawanesa Mutual and Gore Mutual were to all demutualize during the upcoming year, according to David A. Crozier, senior vice…
Banks’ increasing market share and M&A activity driving change in distribution of Canadian P&C insurance
November 25, 2011 by Canadian UnderwriterThe brokers’ share in the distribution of personal P&C insurance in the Canadian marketplace will likely drop from 69% of the policies distributed in 2009 to a 50-50 split with their direct counterparts in the near future, said Lubo Li,…
York Fire re-brands itself as Unica Insurance Incorporated
November 14, 2011 by Canadian UnderwriterYork Fire & Casualty Insurance Company has become Unica Insurance Incorporated and will operate under the Unica brand name, the company announced on Nov. 14.The re-branding of York represents a milestone in the reinvention of the company since its acquisition…
Western Financial acquires Saskatchewan brokerage
November 3, 2011 by Canadian UnderwriterWestern Financial Group has acquired Watrous Insurance Brokers Ltd. in Watrous, Saskatchewan. The Watrous brokerage, which has been serving the community since 1989, will now operate as a Western Financial Group office. The Western office will remain at 107 Main…
RSA Canada’s acquisition of GCAN features prominently on parent company’s bottom line
November 3, 2011 by Canadian UnderwriterRSA Canada’s acquisition of GCAN last year proved to be a significant component of the premium growth RSA’s parent company in the United Kingdom reported in 2011 Q3.The RSA Group’s international net written premiums of £2.992 billion [Cdn$4.8 billion] were…
CEO queries why insurers won’t cancel contracts with insurer-owned brokerages
October 21, 2011 by Canadian UnderwriterGeorge Cooke, president and CEO of The Dominion, challenged other insurers to cancel their business with brokerages that have been purchased by a competitor insurer.Cooke was a member of the CEO panel at the Insurance Brokers Association of Ontario’s 91st…
Demutualization should trigger consolidation in Canadian P&C market: GMP Securities analyst
October 7, 2011 by Canadian UnderwriterDemutualization should bring more consolidation into the Canadian property and casualty marketplace, according to a GMP Securities analysis issued by Stephen Boland.“We anticipate that the larger, mutual insurers will continue to work with the Department of Finance to demutualize in…