BrokerLink still sees plenty of M&A opportunities in provinces where it currently operates and doesn’t have any immediate plans to expand into new geographic areas, the brokerage’s president told Canadian Underwriter in an interview Tuesday. BrokerLink is focusing its resources…
This is the first quarter insurers are reporting financial results under IFRS 17, but insurers remain focused on familiar, pre-IFRS 17 business metrics, a KPMG Canada partner said during Insurance Bureau of Canada’s (IBC) 26th Financial Affairs Symposium. “While we…
P&C insurance industry leaders called for bespoke, yet predictable, regulation at the Insurance Bureau of Canada Financial Affairs Symposium last week. When asked broadly about regulation, Celyeste Power, IBC president and CEO noted no two carriers are alike, and so…
Canada’s financial solvency regulator’s new guideline for managing risks associated with third parties (including brokers) will require insurers to find a ‘balance point’ for compliance, one industry expert said. The Office of the Superintendent of Financial Institutions Guideline B-10: Third-Party…
Navacord founding partner Lloyd Sadd Insurance Brokers has acquired northern Alberta’s Casey Insurance, effective Apr. 1. Casey Insurance is a full-service brokerage offering home, auto and business insurance solutions to clients within the region of Peace River, Alta., and…
Intact Financial Corporation grew its Canadian personal auto premium volume 5% in 2023 Q1 from one year ago, and continues to see positive growth in the segment, CEO Charles Brindamour said during a 2023 Q1 earnings call last week. “Top-line…
Insurance Corporation of British Columbia’s (ICBC) board of directors has appointed David Wong as its new president and CEO, effective May 15. Wong, a chartered professional accountant, will join ICBC following years of experience at the province’s power utility, BC…
Beyond recruiting challenges, data from Canadian Underwriter’s 2023 National Broker Survey show retention will continue to be a major issue for property and casualty (P&C) insurance brokers this year. The survey, answered by more than 150 brokers nationwide, asked about…
While the hard market’s still a huge challenge for Canada’s broker distribution channel in 2023, finding qualified workers was also top concern for brokers. So said more than 150 nationwide respondents to Canadian Underwriter’s 2023 National Broker Survey. The survey,…
Bringing new talent through the doors is a priority for brokerages nationwide, said 322 respondents to a recent Canadian Underwriter online survey. About two-thirds (71%) of brokers, reporting all levels of diversity within their senior leadership, have seen at least some…
If you asked a room of insurance professionals how they got into the business, they’ll probably tell you they “fell into it.” But the industry is doing itself a disservice by being so “self-deprecating,” suggested Rob Marsh, president of Liberty…
Amid a shortage of P&C industry talent, brokerages should heed the fact there may be a subtle risk to failing to address diversity — employee attrition. Brokers working in organizations without diversity in senior leadership are three times more likely to…