Segment
Brokers
Kingsway latest to join portal
January 20, 2005 by Canadian UnderwriterMississauga, Ontario-based Kingsway General Insurance Co. is the latest insurer to hop on the Centre for Study of Insurance Operations (CSIO) portal.Non-standard auto insurer Kingsway is the 30th company to take part in the web-based portal for broker-insurer interaction, a…
Cat losses not deterring reinsurance market slide: Benfield
January 19, 2005 by Canadian UnderwriterDespite a record level of catastrophe losses in 2004, reinsurers appear to be giving in somewhat to soft market pressures, according to a review of 2004/2005 renewals by broker Benfield.The report says that the most recent renewals saw increasing competition…
Anthony Clark restates first-half 2004 results
January 19, 2005 by Canadian UnderwriterFollowing reassessment of its purchase of Vista, Calgary-based Anthony Clark International Insurance Brokers (TSX: ACL) has restated its half-year earnings for the period ending June 30, 2004. The company announced last November revised figures for the first quarter of 2004,…
Loyalist working to meet TSX requirements
January 17, 2005 by Canadian UnderwriterOntario-based Loyalist Insurance Group says it is working to meet requirements of the Toronto Stock Exchange as the company is to be reinstated on the TXS Venture Exchange later this week.The company had been delisted in November for failing to…
What’s new: In brief (January 17, 2005)
January 17, 2005 by Canadian UnderwriterToronto-based conglomerate Onex says it has sold its U.S. insurance brokerage operation, InsLogic. While the buyer was not disclosed, Onex says it received $22 million for the Tennessee-based provider of private-label brokerage services. InsLogic provides insurance services for auto manufacturers…
Market turn marked by discipline: Willis
January 16, 2005 by Canadian UnderwriterIn its annual “Marketplace Realities” report, broker Willis finds despite price softening in “virtually all market segments”, underwriting discipline remains intact.Despite the past year being marked by catastrophes, including the Atlantic hurricane season and December 26 Asian tsunami, market capacity…
Anthony Clark adds another U.S. brokerage
January 12, 2005 by Canadian UnderwriterCalgary-based broker consolidator Anthony Clark International Insurance Brokers Ltd. (ACL) has purchased the assets of Illinois-based Schuneman Insurance Agency Inc.ACL’s U.S. subsidiary Addison York Insurance Brokers Ltd. paid $1.61 million for the Schuneman operation, financed via an existing credit facility.…
Reinsurance pricing flat to down: Guy Carpenter
January 11, 2005 by Canadian UnderwriterIn its annual report on reinsurance renewals for January 1, broker Guy Carpenter says pricing is generally flat to slightly down for 2005. The report also notes that pricing seems to be more directly tied to risk modeling, leaving little…
Spitzer, insurers go head-to-head in front of NY Assembly
January 9, 2005 by Canadian UnderwriterNew York Attorney General Eliot Spitzer and insurer representatives each had their chance to speak on the issue of broker compensation at hearings before the New York Assembly on Friday.In his address, Spitzer outlined his investigation into allegations of bid-rigging…
What’s new: In brief (January 09, 2005)
January 9, 2005 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has produced two new consumer bulletins. The first, “Shop and Save on Auto Insurance”, outlines the different distribution methods for auto insurance, as well tips on premium savings, such as raising deductibles. The…
What’s new: In brief (January 06, 2005)
January 6, 2005 by Canadian UnderwriterBreckles Insurance is challenging fellow members of the Insurance Brokers of Toronto Region (IBTR) to a “fundraising challenge” to help victims of the Indonesian tsunami. Breckles’ employees will be raising as much money as they can between now and January…
Totten Group expands Western presence
January 5, 2005 by Canadian UnderwriterSpecialty insurance wholesaler Totten Group has sign a letter of intent with Alberta intermediary Davis Whitehead which will see Totten establish a presence in Western Canada.Whitehead, whose office writes primarily for Ecclesiastical Insurance Office, will continue to lead the new…