News

AIG United Guaranty Canada, which will be open and licensed in 2006, has named Andy Charles as president.The company is an affiliate of AIG United Guaranty, which provides mortgage guaranty insurance designed to increase home ownership. Beginning in 2006, AIG…

The Insurance Corporation of British Columbia’s (ICBC) contribution of 50% funding for a bicycle patrol program was recently approved by Burnaby city council. The North Road Business Improvement Association already agreed to pay 10% of the funding and the city…

The Chubb Corporation (NYSE: CB) expects to garner a pre-tax gain of $200 million gaining $168 million in the fourth quarter of 2005 and $32 million deferred from it’s recently completed strategic transaction of the new global reinsurance company Harbor…

Integro (Canada) Ltd. recently named Suzanne Cuillerier as principal and head of construction in the Montral office. Cuillerier brings over 25 years of experience in the property and casualty brokerage sector including eight years at Willis Canada where she most…

Strategy International Insurance Group, Inc. (OTCBB: SGYI) (“Strategy”) has announced that its subsidiary, Strategy Holding Company Limited, has finalized the transaction for the sale of $700 million of preferred stock of Strategy Holding Company to Grupo Lakas S.A., a Panamanian…

The primary non-life sector is expected to attain positive results in 2006 with primary premiums growing above inflation and specifically, significant increases arising in classes impacted by 2005’s hurricane season, Swiss Re reported at its recent annual review and outlook…

State Farm Insurance has announced it is issuing refunds to approximately 3,800 automobile insurance policyholders in New Brunswick as a result of an error in the application of a New Business Discount that was introduced in 2000. The average refund…

Royal & SunAlliance Insurance Group plc has completed the sale of its 21.5% shareholding in Rothschilds Continuation Holdings AG on the originally agreed terms. The total cash consideration is 109.5 million (US$182 million) and the pre-tax gain on disposal is…

The Insurance Brokers Association of Canada (IBAC) has expressed its disappointment with the recently announced demise of the CSIO Portal Project.“It is with great disappointment for IBAC that the portal project will not continue growing to better serve the needs…

The Dominion of Canada General Insurance Company, a property and casualty insurer of cars, homes, and businesses across Canada, has selected Guidewire ClaimCenter as its next-generation claims processing system.The ClaimCenter is a product of Guidewire Software, a provider of technological…

Alberta insurers do not have to release records if they fall under the realm of “insurer information” as defined by the Insurance Act, according to a recent ruling by Alberta Information and Privacy Commission adjudicator Dave Bell.The Alberta adjudicator decided…

The CSIO Portal Project a technology project conceived six years ago to improve the efficiency of workflow between independent brokers and insurers will be “winding down” immediately, the Centre for the Study of Insurance Operations (CSIO) has announced in a…