What’s New: In Brief (January 26, 2010)

Ted Bellinger, vice president of business development at ENCON Group Inc., is cycling from Vancouver to Halifax to raise funds for the Sears National Kids Cancer Ride.
Bellinger’s personal goal is to raise a minimum of $25,000 for the charity by Sept. 9, 2010, when the ride begins.
“At any given time, cancer holds 10,000 Canadian children in its grip,” Bellinger said.
“It robs them and their families of the laughter and joy that should be part of every childhood.
“Riding in the Sears National Kids Cancer Ride will channel my physical, mental and emotional energy into something much greater — helping brave children return to life as regular kids again.”
Pledges in support of Bellinger can be made at: http://www.snkcr.com/tedbellinger
Also, his supporters can follow Bellinger on his personal blog: http://tedbellinger.snkcr.com

A.M. Best Co. has affirmed the financial strength rating of ‘A’ (excellent) of GCAN Insurance Company.
The outlook for the rating is stable.
“The rating actions reflect GCAN’s excellent capitalization, solid underwriting and operating performance and consistently favourable reserve development,” a release says.
“Capital appreciation has been solid, with additions for five consecutive years from a consistent stream of net investment income and favourable underwriting results.”
These positive factors are somewhat offset by the company’s pursuit of growth and associated execution risk upon entering new commercial lines of business, its dependence on reinsurance and continued soft market conditions in Canada, A.M. Best continued.