Topic Operations
Shareholders approve Aon-Willis merger
August 26, 2020 by Greg MeckbachAon plc’s proposed acquisition of Willis Towers Watson plc was approved Wednesday by both firms’ shareholders. The merger still requires approval from competition regulators in various jurisdictions (including Canada) plus the Irish High Court. Aon and Willis Towers Watson rank…
Allianz Global Corporate & Specialty names new chief agent for Canada
August 25, 2020 by Jason ContantAllianz Global Corporate & Specialty (AGCS) announced Tuesday it has appointed Bernard McNulty as chief agent for Canada, effective immediately. In addition to taking on the chief agent role, McNulty will remain in his current position as head of claims…
The impact of MGAs getting more business
August 25, 2020 by Greg MeckbachIt is taking longer to get insurance placed through managing general agents because MGAs are getting more business in the hard market, one Ontario broker suggests. Many commercial accounts, which previously would have been handled by retail brokers, are now…
This blockbuster global brokerage merger goes to vote Aug. 26
August 24, 2020 by Greg MeckbachThe industry will be closer to finding out whether the second and third-biggest global P&C brokerages will merge after shareholders of both Willis Towers Watson plc and Aon plc vote on Wednesday. Aon and Willis announced this past March that…
What back to the office looks like for Canadian brokerages
August 20, 2020 by Jason ContantAs businesses across the country continue their staged approach to reopening in the wake of the novel coronavirus pandemic, many brokerages are looking at what this “new normal” means for their company and staff. Some brokerages plan to reopen in…
How COVID-19 could permanently alter Marsh & McLennan
August 19, 2020 by Greg MeckbachTravel and entertainment spending could be down permanently for Marsh & McLennan Companies Inc., though it’s sure to rise again somewhat later this year, suggests CEO Dan Glaser. “I am not sure we will go running back to hopping on…
Reinsurers discuss the hard market, new bricks-and-mortar locations
August 18, 2020 by Jason ContantGiven the persisting novel coronavirus infections and the economic fallout from the pandemic, it seems unlikely any reinsurers would want to set up new physical locations this year, but that’s exactly what may happen, speakers said recently during an A.M.…
What Intact is telling competitors who distribute through BrokerLink
August 17, 2020 by Greg MeckbachIntact CEO Charles Brindamour is assuring his competitors that they are not at a competitive disadvantage with Intact should they distribute their insurance through Intact Financial Corp.’s BrokerLink brokerage unit. “Our strategy is not to get the brokerage business to…
With the pandemic abated, OSFI restarts work on IFRS 17
August 17, 2020 by David GambrillThree things in life are inevitable — death, taxes, and the transition to IFRS 17. With the country now over what appears to be the worst of the COVID-19 pandemic thus far, Canada’s solvency regulator, the Office of the Superintendent…
What COVID has taught Aon about leveraging technology
August 12, 2020 by Greg MeckbachFor large commercial brokerages, video conferences can work at least as well as in-person meetings when placing business for large accounts, if Aon PLC’s recent experience is any indication. “With the investment we have been making in technology, we are…
Skills to promote change
August 9, 2020 by Greg Meckbach, Associate EditorAndy Taylor, Gore Mutual Insurance Company’s newly-minted president and CEO, reveals the soft skills required for a successful business transformation — and how to find them. – As told to Greg Meckbach To recruit talent capable of shepherding a…
Balancing Act
August 8, 2020 by CIP SocietyWhat happens when an agreement is breached due to COVID-19? Experts share their thoughts