Assurances Bernatchez et Associs acquires Fort Insurance Group Inc.
February 4, 2016 by Canadian UnderwriterStephan Bernatchez has acquired Montreal-based Fort Insurance Group Inc., a strategic move expected to provide growth possibilities in the Quebec, Ontario and Alberta markets. “The strategic and geographic positioning of Fort Financial Group will give us the possibility to grow…
Ratings of AIG, its insurance subsidiaries under review with negative implications: A.M. Best
January 28, 2016 by Canadian UnderwriterA.M. Best has placed under review with negative implications the issuer credit rating (ICR) of American International Group, Inc. and the financial strength ratings (FSR) and ICRs of its insurance subsidiaries. “The under review status reflects the strengthening of loss…
Total cat bond issuance for 2015 reached US$6.9 billion: Aon Securities
January 21, 2016 by Canadian UnderwriterAon Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, said that total catastrophe bond issuance for calendar year 2015 reached US$6.9 billion, down from US$8.3 billion in 2014. Aon Securities released its year-end 2015…
Canadian Underwriter, DMTI Spatial team up to offer Feb. 25 webinar on digital disruption
January 15, 2016 by Canadian UnderwriterCanadian Underwriter magazine and DMTI Spatial are offering a webinar on Feb. 25th highlighting the business impact of digital disruption driven by consumers and mobile-first start-ups. The webinar, titled 2016 – Year of Disruption: P&C Insurance Re-imagined, will be held…
Merger of Willis and Towers Watson completed
January 5, 2016 by Canadian UnderwriterWillis Towers Watson Public Limited Company, the successful completion of the merger of Willis Group Holdings and Towers Watson, began operating on Tuesday. The company, which will do business as Willis Towers Watson, follows the merger on Monday of Willis,…
Preliminary forecast for 2016 Atlantic hurricane season issued
December 18, 2015 by Canadian UnderwriterTropical Storm Risk (TSR), part of Aon Benfield Research’s academic and industry collaboration, is forecasting 13 named storms, five hurricanes and two major (Category 3+) hurricanes between the months of June and November in 2016. TSR’s Professor Mark Saunders and…
The Driver’s Seat
December 1, 2015 by Canadian UnderwriterConditions are changing at breakneck speed for Canada’s property and casualty insurance industry. With 2016 providing little promise things will slow down – allowing slow-adopters to catch up – primary insurers need to keep pace or be left in the dust. All that demands plotting the best route forward, knowing when to rev up or slow down, to reach the final destination.
Petley-Hare Limited launches digital division to serve clients across Ontario
November 11, 2015 by Canadian UnderwriterPetley-Hare Limited, an insurance brokerage with nearly 100 years of experience in Ontario’s Durham Region, announced on Monday that it has launched a new digital division called Insurance Jack, which now serves clients across the province. “Insurance Jack was built…
Returns for U.S. homeowners insurers set to rise: Aon Benfield
October 27, 2015 by Canadian UnderwriterProspective returns for homeowners insurers in the United States continue to improve, according to Aon Benfield’s 2015 Homeowners ROE Outlook report, released on Tuesday. The report from Aon Benfield – the global reinsurance intermediary and capital advisor for Aon plc…
Ontario drivers with winter tires soon eligible for insurance discount
October 14, 2015 by Canadian UnderwriterOntario’s Ministry of Finance announced on Wednesday that the province is “moving forward with its plan to help lower auto insurance rates” by requiring all provincial insurance companies to provide a discount for drivers who buy and install winter tires,…
David Marshall to serve as advisor on auto reforms to Ontario’s finance minister
October 9, 2015 by Canadian UnderwriterDavid Marshall has been appointed as advisor to Ontario’s finance minister on auto insurance and pensions, effective Feb. 1, 2016. Marshall will be charged with providing recommendations to the government on further ways to reduce auto insurance costs in the…
Digital’s Essence
October 1, 2015 Brenda Rose , Vice President and Partner, FCA Insurance Brokers; and Technology Champion, Insurance Brokers Association of CanadaThe digital world has created unprecedented possibilities for assembling and exchanging messages. Brokers must be ready to provide “omni-channel” communication to meet customer wants on their terms in this new digital world.