Insurer Liberty International Canada is filing suit against beleaguered Canadian animation company Cinar. The suit, to the tune of $900,000, was filed in Quebec Superior Court.Cinar has come under fire recently, facing allegations of tax fraud and heavy financial losses.…
Canada’s property and casualty insurers came home with a meager 2.6% return on equity (ROE) for the 12-month period to end June this year. The latest quarterly financial figures released by the Insurance Bureau of Canada (IBC) show a 70%…
PetCare Insurance Brokers, a subsidiary of Pethealth Inc. (CDNX: PTZ), will soon be marketing its pet insurance products through Petcetera’s stores and Internet site. In a deal involving the acquisition of certain assets of Western pet insurer PAWS Health Plans…
A hail storm that struck Winnipeg early this week is costing the province’s public insurer dearly, reports the Canadian Press. Manitoba Public Insurance says that it will be paying out more than $3 million in claims for vehicles damaged by…
Reorganization at Co-operators General Insurance Company (TSE: CCS.PR.A) has not yet begun to pay off in early 2001 results. The company, which has seen dismal results in the past several quarters, reports premiums are up, although the effect has yet…
The body representing Lloyd’s Names says the market should see a return to profitability as soon as next year, despite several years of dismal performance. In a recently released report, the Association of Lloyd’s Members, which represents most of the…
A series of recent acquisitions are fueling the earnings growth of broker consolidator Hub International (TSE: HBG).In releasing its second-quarter 2001 results, the Canadian company shows a 22% rise in net earnings and net earnings per share. Net earnings were…
Rating agency Standard & Poor’s has maintained its negative outlook position of the European reinsurance market based on the industry’s 2000 financial returns. If anything, the rating agency notes, the financial strength ratings of companies may be downgraded. Although the…
Rating agency A.M. Best has lifted its "negative outlook" on Lloyd’s of London. The agency has also affirmed the London-based market’s "A" rating. This step follows a negative outlook report which was issued on Lloyd’s on June 28 of this…
Goran Capital Inc. (TSE: GNC), which through its various operating subsidiaries underwrites specialty auto business, reported a net loss of $6.1 million equal to 105c a share for the first three months of its 2001 financial year.For the first six…
Canadian-based pet insurer Pethhealth Inc. (CDNX: PTZ) is laboring through a costly 2001 as expenses related to establishing a U.S. presence take their toll on the company’s bottom-line. Net loss after tax for the second quarter is $2.36 million, or…
Claims management group Crawford Adjusters Canada has acquired Edmonton-based Leonard, Hirst & Miller Adjusters (LH&M) for an undisclosed amount. The firm boosts Crawford’s position in Alberta to nine offices and over 100 employees. LH&M is described as a multi-line adjusting…