Canadian Underwriter

Segment
Brokers


News Insurance

IBAC partners up with CFIB

March 16, 2006 by Canadian Underwriter

The Insurance Brokers Association of Canada (IBAC) and the Canadian Federation of Independent Business (CFIB) have agreed to work together to present a united voice on issues affecting both small businesses and insurance brokerages.“Looking back, both organizations recognize the huge

News Insurance

MMC faces more bid-rigging charges

March 15, 2006 by Canadian Underwriter

Marsh & McLennan Companies, Inc., is facing charges of bid-rigging in a civil lawsuit recently filed by Florida’s Attorney General Charile Crist. In the suit, Crist alleges that Marsh & McLenan illegally manipulated insurance markets to obtain improper commissions and

News Insurance

What’s New: In brief (March 13, 2006)

March 13, 2006 by Canadian Underwriter

Willis Group Holdings (NYSE: WSH) has appointed of three new members to the Canadian Advisory Board of Willis Canada Inc. Robert Hogan, D. Udo Nixdorf, and Bernard R. Wilson will join Willis Canada as senior members and advisors. Hogan, LL.M.

News Insurance

National Bank of Canada CEO calls Bank Act “anachronistic”

March 9, 2006 by Canadian Underwriter

Shortly after Royal Bank CEO Gordon Nixon decried the “absurdity” of Canada’s Bank Act, referring to the act’s provisions that prevent banks from retailing insurance within their local branches, National Bank of Canada president and CEO Ral Raymond told his

News InsuranceMergers and Aqcuisitions

Royal Bank CEO turns up heat in Bank Act issue

March 7, 2006 by Canadian Underwriter

Royal Bank President and CEO Gordon Nixon said recently that a Canadian law preventing banks from retailing insurance “does not make any sense.”“Canada is the only developed country in the world that prohibits consumers and small business owners from buying

News Insurance

Willis acquires Gueits, Adams & Company (March 03, 2006)

March 3, 2006 by Canadian Underwriter

Willis Group Holdings Limited (NYSE: WSH) has acquired New York-based Gueits, Adams & Company. Specializing in jewelers block insurance, Gueits, Adams reports annualized revenues of approximately US$4 million. The terms of the transaction, effective Feb. 1, 2006, have not been

News Insurance

Hub International announces Q4 results, strategic alliance

March 1, 2006 by Canadian Underwriter

Hub International Limited (NYSE:HBG)(TSX:HBG) is reporting a fourth-quarter revenue of US$114.1 million up 12% from US$101.5 million in the same period of 2004. For the year, net earnings from continuing operations were flat on a 25% increase in revenue. Results

News InsuranceMergers and Aqcuisitions

Business insurance quotes now available online

February 28, 2006 by Canadian Underwriter

An online insurance marketplace, kanetix, is expanding its online quote service to include Ontario business insurance, the company has announced.“Before we added business insurance to the quote service, insurance shoppers coming to kanetix could get quotes for their personal auto,

News InsuranceMergers and Aqcuisitions

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.