In a move paralleling Equisure Financial Network’s 1997 acquisition of wholesale broker South Western Group, broker network The Hub Group has purchased KMS Insurance. Terms and the value of the transaction were not released. Rick Gulliver, president of Hub, says…
Whether traditional players in the property and casualty insurance industry continue to hold the lion’s share of business will depend on their willingness to embrace consumer-driven technologies and boost productivity, delegates attending the recently held Strategy Institute conference were told. In particular, the pressure of higher consumer expectations coupled with increased competition from new players to insurance will be felt mostly in the personal lines arena, the speakers warn.
With the conference and seminar season once again shifting into full drive, the message remains consumerism. Nothing new — the insurance industry has become almost anaesthetized by the repeated urgency to address consumer expectations. However, the latest round of discussions…
Property & casualty insurance brokers are breathing a collective sigh of relief as the federal government’s discussion paper on the future of financial institutions in Canada effectively put a moratorium on the banks’ entry into the retail insurance market. Despite…
Listed broker consolidators Canada Brokerlink Inc. and Vector Intermediaries Inc. have announced their intention to merge operations with netpremium volume of $277 million. The newly formed corporation — expected to retain the Brokerlink brand name — will trade shares with…
The Dominion of Canada General Insurance Company’s answer to the direct writing threat, Chieftian Insurance, is one of the future consumer-interaction options open to brokers, predicts Alan Hanks, vice president field operations of the new company. Hanks outlined the broad…
“The future of the independent broker is up to the independent broker,” says George Cooke president of The Dominion of Canada General Insurance Company. A favorable future lies ahead of the independent broker if the members of the profession want…
Global broker Willis Canada has divested its Ottawa area commercial accounts to regional broker Binks Insurance Brokers Ltd. in a move industry observers suggest could be a sign of things to come in the commercial brokerage sector. Terms of the…
The angular figure of our senior underwriting manager emerged from the elevator facing me, and, as usual, Judy’s face was a mirror of her inner feelings. It was also quite clear that these feelings were not too positive. She grunted…
Several months ago Northern Telecom shook the Canadian business community when it announced plans to relocate to the U.S., mainly due to the high personal income tax structures in Canada which make it difficult if not impossible to compete against…
Calgary-based brokerage network Canada Brokerlink Inc. (TSE: CKK) has disclosed plans to purchase back approximately 5% of its issued normal shares (1,794,233 shares). This step is in response to what the company believes as being a current under-valuation of its…
The new millennium is not only bringing Y2K exposures to the fore, but a sense of consumer branding. From companies, brokers through to reinsurers, the latest industry leader forums have all hosted an urgency to address consumerism. The property and…