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News Insurance

Hub acquires Seattle-based specialty brokerage

May 16, 2005 by Canadian Underwriter

Broker network consolidator Hub International Ltd. (TSX: HBG) has purchased Seattle-based Tash Lyle & Jones for an undisclosed sum. Tash Lyle specializes in employee benefits insurance.Hub says Tash Lyle will be integrated into the broker network’s Bush, Cotton & Scott

News Insurance

Western Financial sees strong 1-Q earnings

May 15, 2005 by Canadian Underwriter

Western Financial Group (TSX: WES) lifted net income for the first quarter of this year by 80% to $1.1 million from the $587,000 disclosed for the same period in 2004. Earnings for the latest reporting period clocked in at 4c

News Insurance

Hub gains approval for equity incentive plan

May 12, 2005 by Canadian Underwriter

Hub International Ltd. (TSX: HBG) has gained shareholder approval for its 2005 equity incentive plan (EIP) and the election of new board director. Hub says that the new EIP does not increase the number of equity awards that the company

News Insurance

IBAM appoints new president at AGM

May 11, 2005 by Canadian Underwriter

The Insurance Brokers Association of Manitoba (IBAM) has appointed Tony Taronno, managing partner of Winnipeg-based Horizon Tuxedo, as its president for the 2005/6 annual term. Taronno takes over the helm from George Miller who will now assume the role of

News Insurance

Western Financial acquires minority stake in B.C. broker

May 10, 2005 by Canadian Underwriter

Financial services group and broker network consolidator Western Financial Group (TSX: WES) has acquired a minority shareholding in Falkins Insurance Group, a major brokerage network operating from 10 locations in British Columbia’s southeastern region. The terms of the deal have

News Insurance

Ontario insureds left without insurance

May 10, 2005 by Canadian Underwriter

Approximately 400 insureds who purchased home, auto or commercial insurance from York Commonwealth Direct Insurance Co. do not have coverage at the moment, says a Registered Insurance Brokers of Ontario (RIBO) statement. The broker self-regulating body says it has begun

News Insurance

Guy Carpenter offers comp disclosure on facultative placements

May 9, 2005 by Canadian Underwriter

Reinsurance brokerage group Guy Carpenter & Co. Inc. says it will now offer disclosure on compensation arrangements applying to the placement of facultative business globally. The brokerage introduced its "Global Disclosure Doctrine" in December of last year, which outlines the

News Insurance

The industry’s poor public image remains top issue: IIO

May 8, 2005 by Canadian Underwriter

The intense regulatory scrutiny and plummeting consumer confidence that has dogged the property and casualty insurance industry since the onset of the most recent hard market were brought on by the collective actions of insurers, says Ellen Moore, president of

News Insurance

Study shows new growth in specialty third-party managed programs

May 5, 2005 by Canadian Underwriter

A survey of the U.S. general insurance marketplace by specialty reinsurance brokerage Guy Carpenter & Co. Inc. points to renewed growth in specialty risk program business handled by third-party program administrators. In addition to rising demand by insurers for this

News Insurance

Hub acquires U.S. specialty reinsurance brokerage

May 4, 2005 by Canadian Underwriter

Broker network consolidator, Hub International Ltd. (TSX: HBG), has acquired Los Angeles-based THB Intermediaries Inc. (THB) in a combined cash and stock deal. The value and terms of the purchase have not been disclosed.THB operates as a specialty reinsurance brokerage

News Insurance

London market issues blueprint for achieving contract certainty

April 28, 2005 by Canadian Underwriter

With the deadline for achieving contract certainty standards looming, a blueprint for change has been sent to all brokers and insurers in the London markets, including Lloyd’s.The U.K. Financial Services Authority (FSA) has given insurers until the end of 2006

News Climate ChangeInsuranceMergers and Aqcuisitions

What’s new: In brief (April 28, 2005)

April 28, 2005 by Canadian Underwriter

With the release of its first-quarter 2005 results, brokerage Willis Group says has laid off 500 staff members and put aside a further US$20 million to deal with litigation relating to contingent commissions. Earlier this month, Willis announced settlements totaling