News

Aviva Insurance Company of Canada, Scottish & York and Traders General Insurance Company, all Aviva Canada Inc. (Aviva) member companies, are rewarding drivers in Quebec who choose to be kind to the environment with an automatic 10% discount on their…

Insurance industry mergers and acquisitions increased in 2005 to the highest level since 2001 and may foreshadow an acceleration of activity this year and the next, according to a new study by Hartford, Connecticut-based Conning Research and Consulting, Inc.The study…

Canadian Finance Minister Jim Flaherty has reaffirmed his personal commitment to the Conservative Party’s platform to “maintain the current regulations governing insurance marketing by the chartered banks.”Currently the Bank Act does not allow banks to retail insurance products or distribute…

Arch Capital Group Ltd.’s (NASDAQ:ACGL) proposed $100 million issuance of Class B, noncumulative preferred shares recently received a ‘BB+’ preferred stock rating from Standard & Poor’s Ratings Services. In addition, S & P’s also affirmed its ‘BBB’ long-term counterparty credit…

Business property insurer FM Global’s financial performance rating of A+ (Superior) was recently affirmed by A.M. Best Ratings Co.Noting that FM Global continues to be “a market leader among providers of commercial property insurance,” the insurance ratings company went on…

Armada Data Corporation (TSX:ARD) recently launched “Actual Cash Value Replacement Vehicle Service,” which will facilitate insurance companies settling total-loss claims for vehicles of any age that are not covered by a “Waiver of depreciation” endorsement. The new service is meant…

A & B Insurance Damage Restoration, Inc. recently joined Disaster Kleenup International, Inc.The addition of A & B to DKI’s membership will strengthen the network’s Northeast market. As a DKI member, A & B Insurance Damage Restoration can utilize DKI’s…

EGI Financial Holdings Inc. (TSX:EFH) announced strong results for the first quarter ended Mar. 31, 2006, including “solid increases in net written premiums, investment income and income before extraordinary gains, as the company continues to build its specialty general insurance…

Thanks largely to solid investment returns and strong underwriting results, the U.S. property and casualty industry was able to absorb record-high catastrophe losses and report an overall operating profit in 2005, A.M. Best reports. The U.S. property and casualty industry’s…

School board volunteer driver procedures in Victoria, British Columbia have been revamped to comply with changes made this April by Greater Victoria School District (School District 61). Under the District’s changed policy it is the responsibility of the Principal to…

An increase in premiums during the first quarter 2006 caused net profit’s for reinsurer Hannover Re to spike 7% reaching US$134 million (105 million).However, forecasts had quoted a greater profit of around US$149.3 million (117 million).Hannover Re’s gross written premiums…

Hub International Limited (TSX:HBG) will offer 4,000,000 common shares in a public offering in the United States. Hub International will also grant the underwriters an over-allotment option to purchase up to 600,000 additional common shares. Stephens Inc. and Wachovia Securities…