Study shows buyers anti to reinsurance adjustments
July 1, 1999 by Canadian UnderwriterA Conning & Company reinsurance study concludes that buyers will not respond well to a general hardening of market rates. The study suggests that a reinsurance price increase will lead to a significant outflow of business from the traditional insurance…
Canadian 1-quarter ratios rise on consolidation costs
July 1, 1999 by Canadian UnderwriterQueensway Financial Holdings Inc. and St. Paul Companies released their first quarter earnings, with both showing results mirroring industry trends. Both companies followed the industry’s alarming trend of rising operating ratios. And while Queensway’s premium volume rose considerably — the…
On The Move (July 01, 1999)
July 1, 1999 by Canadian UnderwriterEquisure Financial has made application to amend the name of its wholly owned chartered trust company to Equisure Trust Company from Evangeline Trust Company. Insurance Technology Advisors Ltd., a Canadian insurance marketplace consulting practice, announced that Domenic Maggio has joined…
Martin’s “Wait and See” strategy
July 1, 1999 by Canadian UnderwriterThe insurance industry is applauding the federal government’s just released white paper outlining the future of financial services competition in Canada. In line with insurer and broker demands, the government has blocked banks from retailing insurance through branches as well…
Broker network focuses on rationalization expenses
July 1, 1999 by Canadian UnderwriterCanada Brokerlink Inc. posted first quarter results for this year showed business growth of 67%, and, at the same time, nearly doubling its assets to $67 million compared with the level for the same period in 1998. Revenue for first…
Wake up, the “Knowledge Economy” is here
July 1, 1999 Sean van Zyl, EditorThe Insurance Institute of Ontario’s Centennial Symposium, recently held in Toronto, drew together several key local and international financial services experts who provided a mixed view of the future in terms of how current and emerging marketplace events will impact the property and casualty insurance industry. However, all of the speakers agreed that change is rushing the industry into a new era.
Manitoba brokers brace for the banks
June 1, 1999 by Canadian UnderwriterThe new president of the Insurance Brokers Association of Manitoba (IBAM) Ron Vandenbosch says the battle against banks retailing insurance is the top concern expressed by his constituents at the recent IBAM annual general meeting in Winnipeg. Asked to list…
Extreme Perils
June 1, 1999 Sean van Zyl, EditorNatural disasters such as extreme weather, a volcanic eruption or an earthquake, are often quaintly referred to in the insurance world as “Acts of God”, adverse events which are seemingly unexplainable or beyond man’s control. Noticeably, the economic and insurance…
1998 in perspective
June 1, 1999 Don Smith, Chairman of Trac Insurance ServicesLast year I predicted 1998 would bring back a deteriorating trend to the property and casualty insurance industry. In addition to the January ice storm, I felt that the continuing “soft market” would have a negative impact on underwriting results.…
Storming ahead successfully
June 1, 1999 AxiomWe couldn’t have picked a worse day for the opening of my company’s new regional office. Gale-force winds had blasted into the city overnight, knocking down trees and power-lines, shutting down the airport, and tearing the roofs off new, unfinished…
IBABC 99 AGM AND CONFERENCE: Regional Unity the Cornerstone
June 1, 1999 Sean van Zyl, EditorPromoting regional unity and getting out on the road to read member needs and concerns first hand are central issues of the Insurance Brokers Association of British Columbia’s strategic growth plan for the year ahead. Although brokers should remain competitive…
Letters (June 01, 1999)
June 1, 1999 by Canadian UnderwriterDear Editor, You are to be complimented on an excellent feature article, in the April Underwriter, on the threat posed by the big banks. The Independent Life Insurance Brokers of Canada have many members who also hold a p&c license.…