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Anthony Clark restates first-half 2004 results

January 19, 2005 by Canadian Underwriter

Following reassessment of its purchase of Vista, Calgary-based Anthony Clark International Insurance Brokers (TSX: ACL) has restated its half-year earnings for the period ending June 30, 2004. The company announced last November revised figures for the first quarter of 2004,

News Insurance

Loyalist working to meet TSX requirements

January 17, 2005 by Canadian Underwriter

Ontario-based Loyalist Insurance Group says it is working to meet requirements of the Toronto Stock Exchange as the company is to be reinstated on the TXS Venture Exchange later this week.The company had been delisted in November for failing to

News Insurance

What’s new: In brief (January 17, 2005)

January 17, 2005 by Canadian Underwriter

Toronto-based conglomerate Onex says it has sold its U.S. insurance brokerage operation, InsLogic. While the buyer was not disclosed, Onex says it received $22 million for the Tennessee-based provider of private-label brokerage services. InsLogic provides insurance services for auto manufacturers

News Insurance

Market turn marked by discipline: Willis

January 16, 2005 by Canadian Underwriter

In its annual “Marketplace Realities” report, broker Willis finds despite price softening in “virtually all market segments”, underwriting discipline remains intact.Despite the past year being marked by catastrophes, including the Atlantic hurricane season and December 26 Asian tsunami, market capacity

News Insurance

Anthony Clark adds another U.S. brokerage

January 12, 2005 by Canadian Underwriter

Calgary-based broker consolidator Anthony Clark International Insurance Brokers Ltd. (ACL) has purchased the assets of Illinois-based Schuneman Insurance Agency Inc.ACL’s U.S. subsidiary Addison York Insurance Brokers Ltd. paid $1.61 million for the Schuneman operation, financed via an existing credit facility.

News Insurance

Reinsurance pricing flat to down: Guy Carpenter

January 11, 2005 by Canadian Underwriter

In its annual report on reinsurance renewals for January 1, broker Guy Carpenter says pricing is generally flat to slightly down for 2005. The report also notes that pricing seems to be more directly tied to risk modeling, leaving little

News Insurance

Spitzer, insurers go head-to-head in front of NY Assembly

January 9, 2005 by Canadian Underwriter

New York Attorney General Eliot Spitzer and insurer representatives each had their chance to speak on the issue of broker compensation at hearings before the New York Assembly on Friday.In his address, Spitzer outlined his investigation into allegations of bid-rigging

News Climate ChangeInsuranceMergers and Aqcuisitions

What’s new: In brief (January 09, 2005)

January 9, 2005 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) has produced two new consumer bulletins. The first, “Shop and Save on Auto Insurance”, outlines the different distribution methods for auto insurance, as well tips on premium savings, such as raising deductibles. The

News Climate ChangeInsurance

What’s new: In brief (January 06, 2005)

January 6, 2005 by Canadian Underwriter

Breckles Insurance is challenging fellow members of the Insurance Brokers of Toronto Region (IBTR) to a “fundraising challenge” to help victims of the Indonesian tsunami. Breckles’ employees will be raising as much money as they can between now and January

News Climate ChangeInsuranceMergers and Aqcuisitions

What’s new: In brief (January 05, 2005)

January 5, 2005 by Canadian Underwriter

Troubled Loyalist Insurance Group Ltd. (TSX Venture: LOY) has been downgraded to “tier 2” status by the TSX Venture Exchange. Trading in Loyalist shares was halted by the TSX on December 7, on failure to file interim financial results. The

News Insurance

Totten Group expands Western presence

January 5, 2005 by Canadian Underwriter

Specialty insurance wholesaler Totten Group has sign a letter of intent with Alberta intermediary Davis Whitehead which will see Totten establish a presence in Western Canada.Whitehead, whose office writes primarily for Ecclesiastical Insurance Office, will continue to lead the new

News Insurance

What’s new: In brief (January 04, 2005)

January 4, 2005 by Canadian Underwriter

Law firm Miller Thomson LLP has expanded its presence into Quebec, merging with Pouliot Mercure. The Montreal-based firm has 56 lawyers, bringing Miller Thomson’s total professional staff to more than 500. The Quebec office will operate under the name Miller