Segment
Brokers
What’s new: In brief (January 30, 2005)
January 30, 2005 by Canadian UnderwriterStephen Mallory, former managing director of Marsh Canada, has been named president and CEO of Hub International Ontario Ltd. Mallory succeeds Nelson Tilander, who although leaving the CEOs role after six years for an indefinite medical leave, will remain as…
Canadian market set for interesting year in 2005: Cook
January 30, 2005 by Canadian Underwriter2005 is shaping up to be an interesting year for Canada’s property & casualty insurance industry, says Omega Insurance Holdings CEO Philip Cook. Cook looked into his crystal ball to outline “33 trends” the industry may see this year, speaking…
Joint Forum releases intermediary sales practices paper
January 30, 2005 by Canadian UnderwriterThe Joint Forum of Financial Market Regulators (JFFMR) has released its “Principles and Practices for the Sale of Products and Services in the Financial Sector”.The new document suggests principles for the sale of a wide array of products, including p&c…
Western Financial to make $20 million offering
January 26, 2005 by Canadian UnderwriterAlberta-based broker network and bank Western Financial Group Inc. (TXS: WES) says it has priced an offering of 9 million subscription receipts at $2.15 each for gross proceeds of $19.35 million. The offering, set to close on February 3, also…
Industry preparing for release of 2004 yearend results: Yakabuski
January 26, 2005 by Canadian UnderwriterThe insurance industry is already preparing to better handle the release of 2004 yearend financial results and the incumbent media attention they will garner, says Mark Yakabuski, vice president of federal affairs and Ontario region for the Insurance Bureau of…
What’s new: In brief (January 26, 2005)
January 26, 2005 by Canadian UnderwriterCanadian CEOs are bullish on the future, according to results of the latest PriceWaterhouse Coopers (PwC) Global CEO survey. A full 55% of Canadian CEOs are very confident of future revenue growth, compared to just 38% of U.S. CEOs and…
What’s new: In brief (January 25, 2005)
January 25, 2005 by Canadian UnderwriterBroker Aon says the introduction of the Airbus A380 will challenge the aviation liability market, and may cause liability limits to rise for the entire industry. Much like the introduction of Pan Am’s 747 some 35 years ago, the mammoth…
Hurricane Ivan halts softening in energy sector: Guy Carpenter
January 24, 2005 by Canadian UnderwriterThe damage caused by Hurricane Ivan’s assault on off-shore oil producers halted expected reinsurance rate softening in the energy sectors, according to a new report by reinsurance broker Guy Carpenter & Co.In its “Marine & Energy Reinsurance Review Report 2005”,…
“Significant softening” reported by commercial brokers
January 24, 2005 by Canadian UnderwriterU.S. commercial insurance accounts saw significant rate softening in the last months of 2004, according to the latest quarterly survey by the Council of Insurance Agents & Brokers (CIAB).In the fourth quarter, more than 80% of small and large accounts,…
Connecticut AG sues Marsh, ACE over state contract
January 23, 2005 by Canadian UnderwriterIn what promises to be the first of several civil charges filed against insurance companies and brokers, Connecticut Attorney General Richard Blumenthal has filed suit against Marsh & McLennan’s brokerage operation and ACE Financial Solutions. Blumenthal alleges ACE paid Marsh…
What’s new: In brief (January 23, 2005)
January 23, 2005 by Canadian UnderwriterBroker network Hub International has named James S. Barton as president and COO of B.C.-based Hub International Barton Ltd. Also George C. Robertson has been named chief sales officer. James Barton replaces Craig Barton, who will remain as chair and…
What’s new: In brief (January 20, 2005)
January 20, 2005 by Canadian UnderwriterOakville, Ontario-based pet insurer Pethealth (TSX Venture: PTZ) has declared a dividend of $0.12 per series one convertible preference share, payable on January 26. Pethealth issued 5 million of convertible preference shares on January 21, 2004 through a private placement,…