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What’s New: In Brief (February 28, 2006)

February 28, 2006 by Canadian Underwriter

Anthony Clark International Insurance Brokers Ltd. (TSX:ACL) has appointed Robert M. Sadleir to the Corporation’s board of directors. Sadleir is a chartered accountant and vice-president finance for Cal-Gas Inc. Sadleir offers knowledge and experience in the areas of finance, corporate

News Insurance

Willis welcomes CFO to North American post

February 20, 2006 by Canadian Underwriter

Willis Group Holdings Ltd. recently hired Derek A. Smyth as chief financial officer of the brokerage’s North American operations.Smyth has 13-years experience at General Electric Co., during which time he served as vice-president securitization, strategic pricing and financial planning and

News Insurance

Allianz merges with Nordic Insurance Company

February 20, 2006 by Canadian Underwriter

Allianz Insurance Company of Canada and The Nordic Insurance Company of Canada, both insurance subsidiaries of ING Canada Inc. (TSX:IIC.LV), have announced their intention to amalgamate under the name The Nordic Insurance Company of Canada. The transaction is subject to

News Insurance

Regulators issue recommendations for avoiding conflicts

February 13, 2006 by Canadian Underwriter

The Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO) have issued a third consultation paper that includes three recommendations for harmonizing best practices across the country so as to avoid conflict of interest situations.

News Insurance

Willis reports decrease in 4Q net income

February 10, 2006 by Canadian Underwriter

Willis Group Holdings Limited (NYSE: WSH), the global insurance broker, reported its 2005 fourth-quarter revenues decreased 4% to US$562 million, from US$588 million over the same period last year.Net income for the 2005 fourth quarter was US$60 million, or $0.38

News Insurance

Sovereign pulls plug on personal auto, homeowners lines

February 8, 2006 by Canadian Underwriter

Focusing on its core strength of commercial insurance, The Sovereign General Insurance Company has announced that it will no longer write personal auto and home insurance in Alberta, Nova Scotia, Saskatchewan and the Northwest Territories.“The size of the portfolios and

News Insurance

Loyalist Insurance Group reports 2004 net earnings loss

February 7, 2006 by Canadian Underwriter

The Loyalist Insurance Group Limited is reporting a net earnings loss of $56,359 in 2004, as compared to net earnings gain of $184,829 reported in 2003.The company also reported a decline of revenues by almost half from $3.67 million in

News Insurance

Warp speed ahead: Brokers get help processing policies

February 7, 2006 by Canadian Underwriter

Royal & SunAlliance recently launched WARP Data Bridging, which aids brokers in the processing of auto and property policies. The new product is currently available to Royal & SunAlliance as well as Western Assurance brokers by way of the latest

News Insurance

Assurex Global appoints new chairman

February 6, 2006 by Canadian Underwriter

The global network of independent insurance brokers Assurex Global, which represents $21 billion in premium volume, recently appointed Paul J. Hering as new chairman in order to focus on growing leading North American insuarnce markets.Hering succeeds Gregory S. Belton (with

News Insurance

Anthony Clark announces private placement (February 01, 2006)

February 1, 2006 by Canadian Underwriter

Anthony Clark International Insurance Brokers Ltd. (TSX: ACL) recently implemented a non-brokered private placement of up to 334,000 units at a price of $0.60 per unit to raise gross proceeds of up to $200,400. The general insurance broker reports that

News Insurance

Benfield Corporate Risk opens Calgary office

January 19, 2006 by Canadian Underwriter

Benfield Corporate Risk, the corporate insurance and risk intermediary catering for the complex risk management and transfer needs of the corporate sector worldwide, has announced the opening of a Canadian office in Calgary. Incorporated Jan. 19, Benfield Corporate Risk’s Canadian

News Insurance

Sovereign General will defend against AMF allegations

January 18, 2006 by Canadian Underwriter

The Sovereign General Insurance Company says it was “stunned” by recent accusations made against the company by the Autorite des Marches Financiers (AMF), according to a Jan. 17 company press release.The Sovereign General release says the AMF posted notices of