News

KPMG has acquired Vancouver-based accounting firm Berris Mangan. Berris Mangan is a full-service accounting firm that specializes in serving the insurance industry, as well as the service, wholesale and manufacturing industries. “As part of our national strategy to grow through…

Kanetix Ltd., a Canadian online insurance marketplace, has been acquired by Monitor Clipper Partners (MCP), a Cambridge, Massachusetts-based private equity firm. Kanetix has also named Yousry Bissada as president and CEO, effective immediately. Its co-founders, George Small and Gregory Ellis,…

FirstOnSite Restoration has appointed Brad Meekin to head up its new healthcare and government services business unit. Through FirstOnSite’s Priority Response Emergency Plan (PREP) program, Meekin will assist organizations in the healthcare and government sectors – including hospitals, retirement residences,…

Hub International Limited (Hub) has entered into a definitive agreement to acquire the operations of Horizon Insurance LP (Horizon), a full service insurance brokerage firm headquartered in Manitoba. The acquisition is expected to close in the third quarter of 2011…

The Ontario Superior Court of Justice ruled against awarding punitive damages against Chubb Insurance Company of Canada in a case involving the destruction of a high-end art collection in a 1997 fire. In doing so, however, the court ruling took…

Personal lines in Canada are showing signs of “robust” premium growth, while commercial writers continue to plod along in a sluggish, no-growth environment, reported Joel Baker, president and CEO of MSA Research Inc.In the MSA/Baron Outlook Report: Q2 2011, Baker…

Reid French has been appointed CEO of Applied Systems. He succeeds James P. Kellner, a 26-year veteran of Applied Systems, who has served as chairman and CEO since 1998. Kellner is taking on the role of non-executive chairman of the…

The Insurance Council of British Columbia has appointed Dr. Eric Yung as a layperson representative voting member.Yung holds a Bachelor of Science degree in Biochemistry from the University of British Columbia. He holds his Doctorate in Molecular Genetics from the…

Global risk and reinsurance specialist Guy Carpenter said it is expecting additional changes in Solvency II that will simplify the calculation of counterparty default risk, which has been criticized for its “overly complex approach.”A key component of Solvency II is…

Tropical storm Maria is weak as it approaches Atlantic Canada, but it is expected to merge with a front over Eastern Canada late in the week, resulting in a heavy rainfall for Nova Scotia and Newfoundland on Sept. 16.The Canadian…

Rochon Engineering co-CEOs Mike and Vince Rochon are stepping down and transitioning out of the organization in October 2011.In the interim, Doug Tremblay, in his role of general manager, will act as chief operating officer.“Over the past few years, Rochon…

FirstOnSite Restoration has expanded its Greater Toronto Area presence with the opening of its Toronto East branch. The branch is under the leadership of Steve Gregg, district general manager of Hamilton and GTA, and Jim Mandeville, branch manager of Toronto…