Canadian Underwriter

What’s New: In Brief (November 30, 2007)

November 30, 2007   by Canadian Underwriter

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CARSTAR Automotive Canada has opened two new locations, one in London, Ont. and one in Richmond Hill, Ont.
The two new franchises are part of a network of more than 115 CARSTAR locations across the country, dedicated to providing the highest quality service and customer care in the collision repair industry, a CARSTAR release notes.
The location in London is the third location in the area and the second to be purchased by Wayne Minogue, who also owns Lawrence CARSTAR Collision.
“When the opportunity to purchase another CARSTAR location in London was presented to me, there was no question in my mind whether or not to do it,” Minogue said in a release. “Associating with a brand that stands for quality and integrity is essential to a successful business.”
The Richmond Hill location is owned by Steve IM and Young Yoon, who previously owned a collision repair business in the East York, Ont.
“It was important to us to have a strong name and presence in the community in which we choose to do business,” Yoon said in a release. “Even more important though, was to associate with a brand that stood for not only quality, but integrity and ethics.”

Steel Partners II and Carlson Capital, U.S. investment funds, are supporting the launch of a new Lloyd’s syndicate with a capacity of 104.9 (about Cdn$153.6 million), according to A.M. Best.
Barbican will write international property, casualty reinsurance and treaty lines.
Earlier this week A.M. Best also reported that Aurigen Re Capital Ltd. has capital in place to open a Canadian subsidiary.
Aurigen Re is a bit unique in that it provides life and health reinsurance, when most reinsurers also offer property and casualty, A.M. Best added.

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