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Canadian market set for interesting year in 2005: Cook

January 30, 2005 by Canadian Underwriter

2005 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

News Insurance

Joint Forum releases intermediary sales practices paper

January 30, 2005 by Canadian Underwriter

The 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

News Insurance

Western Financial to make $20 million offering

January 26, 2005 by Canadian Underwriter

Alberta-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

News InsuranceMergers and Aqcuisitions

Industry preparing for release of 2004 yearend results: Yakabuski

January 26, 2005 by Canadian Underwriter

The 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

News Insurance

What’s new: In brief (January 26, 2005)

January 26, 2005 by Canadian Underwriter

Canadian 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

News InsuranceMergers and Aqcuisitions

What’s new: In brief (January 25, 2005)

January 25, 2005 by Canadian Underwriter

Broker 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

News Climate ChangeInsurance

Hurricane Ivan halts softening in energy sector: Guy Carpenter

January 24, 2005 by Canadian Underwriter

The 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”,

News Insurance

“Significant softening” reported by commercial brokers

January 24, 2005 by Canadian Underwriter

U.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,

News Insurance

Connecticut AG sues Marsh, ACE over state contract

January 23, 2005 by Canadian Underwriter

In 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

News Climate ChangeInsurance

What’s new: In brief (January 23, 2005)

January 23, 2005 by Canadian Underwriter

Broker 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

News Insurance

What’s new: In brief (January 20, 2005)

January 20, 2005 by Canadian Underwriter

Oakville, 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,

News InsuranceMergers and Aqcuisitions

Kingsway latest to join portal

January 20, 2005 by Canadian Underwriter

Mississauga, 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