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What’s new: In brief (January 17, 2005)


January 17, 2005   by Canadian Underwriter


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Toronto-based conglomerate Onex says it has sold its U.S. insurance brokerage operation, InsLogic. While the buyer was not disclosed, Onex says it received $22 million for the Tennessee-based provider of private-label brokerage services. InsLogic provides insurance services for auto manufacturers and others, including the Ford Motor Credit Co.

Swiss Re has created a new guide to reinsurance basics. “Understanding reinsurance: How reinsurers create value and manage risk” is intended to educate regulators, legislators and others about the role of reinsurance in maintaining stability in the primary insurance market. The study not only outlines the ABCs of reinsurance and how it helps manage risk, but also discusses the best environment for reinsurance to operate in, including risk-based capital adequacy, international risk transfer and capital flow, and freedom of contract. The full study is at www.swissre.com.

The Canadian Insurance Accountants Association is hitting the ice for a “Family Skate” at Canlan Ice Sports in Oakville, Ontario on February 4. The event kicks off at 7:15 pm and includes food and refreshments, as well as a cash bar. The price is $15 for adults and $8 for children, and registration deadline is January 31. For more information, contact Terri Martin at 416-601-6452 or email temartin@deloitte.ca.