Segment
Brokers
SGI now a full partner in brokers’ BIPPER prgram
May 3, 2007 by Canadian UnderwriterSGI Canada (SGI) is now a full partner of the Broker Identity Program, according to Insurance Brokers Association of Canada (IBAC). The program has been in effect since 1989 and serves as a branding campaign for insurance brokers. We are…
Hub reports profit growth despite environment of declining rates
May 1, 2007 by Canadian UnderwriterHub International Limited (NYSE: HBG) (TSX: HBG) reported strong growth in revenue and profits for 2007 Q1 despite an environment of falling rates.Overall, Hubs 2007 Q1 revenue of US$171.8 million represented a US$37.7 million (or 28%) increase over its 2006…
Marsh wages campaign to promote the “upside” of risk
April 30, 2007 by Canadian UnderwriterMarsh Inc., a risk and insurance services firm, has launched a new branding campaign, encouraging businesses to focus on the upside of risk.The campaign, created by the New York office of Ogilvy, seeks to disrupt the traditional view of risk…
What’s New: In Brief (April 27, 2007)
April 27, 2007 by Canadian UnderwriterLoyalist Insurance Group reported revenue of Cdn$2.1 million in 2006, an increase from Cdn$2 million for the year ended Dec. 31, 2005. The company also reported a smaller operating loss of Cdn$50,399 in 2006, compared to the Cdn$266,040 loss it…
Mooney Insurance and Rogers Insurance team up
April 27, 2007 by Canadian UnderwriterMooney Insurance Ltd. and Rogers Insurance Ltd. have teamed up to allow both firms to better service existing clients and to realize new business opportunities.The strategic alliance involves a minority equity investment in Red Deer, Alberta-based Mooney by Calgary-based Rogers…
What’s New: In Brief (April 26, 2007)
April 26, 2007 by Canadian UnderwriterGuy Carpenter is hosting the first annual (Re)Insurance Industry Charity Poker and Casino Event for WICC (Women in Insurance Cancer Crusade). The event will be held at 6 p.m. on May 30, 2007 at the Four Seasons Hotel Toronto. Although…
Willis reports profits of $169 million for Q1
April 26, 2007 by Canadian UnderwriterWillis Group reported a net income of US$169 million [approximately Cdn$189 million] for 2007 Q1, as compared to US$140 million [approximately Cdn$156 million].Each business unit contributed to overall organic growth in commissions and fees in the first quarter, with global…
Workforce demographics a concern for insurance industry
April 25, 2007 by Canadian UnderwriterWorkforce demographics represent a major issue looming over the horizon, according to five senior executives sitting on the CIP Symposium 2007s leadership panel in Toronto.Silvy Wright, the president and CEO of Markel Insurance Company of Canada, says she has often…
Succession Planning 101: Difference Between Generation X and Y
April 25, 2007 by Canadian UnderwriterOne of the key hiring mistakes insurers and other employers make is not to recognize the different expectations of Generation X and Y employees, according to Andrea Plotnick, the national expertise director of organizational effectiveness at the Hay Group.Plotnick was…
What’s New: In Brief (April 24, 2007)
April 24, 2007 by Canadian UnderwriterPolicy Works Inc. has announced the launch of its Certified Data-Exchange Partner Program, designed to recognize insurers who have worked in partnership with Policy Works Inc. to ensure accurate transfer of commercial lines information. The program focuses on three key…
What’s New: In Brief (April 20, 2007)
April 20, 2007 by Canadian UnderwriterCanadian Western Trust (CWT), the parent company of Canadian Direct Insurance Incorporated, is celebrating its 20th anniversary, with the last decade marking a tenfold growth and $3.6 billion total. It is truly gratifying to have earned the recognition and confidence…
Brokerage stocks soar amidst takeover rumours
April 20, 2007 by Canadian UnderwriterBrokerage stocks for the week ending April 19 climbed by more than 4% on A.M. Best’s Global Insurance Composite, to close the period as the biggest gainer among the sector specific and regional indexes. Closing the week up 1.15%, this…