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R. Lewis Dunn 1942-1999

November 1, 1999 by Canadian Underwriter

Peacefully, on October 19, 1999 Lewis Dunn, president and chief executive officer of CGU Group Canada Ltd., passed away surrounded by family. Beloved husband of Sandy, and father of son’s Chris, Greg (and wife Carolyn), daughter Carolyn and grandfather of…

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Broker networks position

November 1, 1999 by Canadian Underwriter

Broker consolidator Equisure Financial Network Inc. (TSE: EFN) has in partnership with the ING group launched a new general insurance company to be licensed across Canada. Ownership of the new insurer, Northbrooke General Insurance Company of Canada, will be equally…

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On The Move (November 01, 1999)

November 1, 1999 by Canadian Underwriter

Munich Reinsurance Company of Canada has announced the following appointments, Barbara Amodeo, vice president, Technical Insurance Department, Frances Fortin, vice president, Actuarial Department, Joe Golobic, vice president, Information Services Department, Tina Gooding, vice president, Property Treaty Department, John Kelly, vice…

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Harmonization drives Nova Scotia brokers

November 1, 1999 by Canadian Underwriter

Atlantic harmonization was the big topic of discussion at the Insurance Brokers Association of Nova Scotia (IBANS) conference held recently in Baddeck, Nova Scotia. IBANS president Michael Brien says his constituents have a number of concerns heading into the coming…

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Global brokers RESET TARGETS

November 1, 1999 Lowell Conn

The wave of mergers and acquisitions which has occurred between the corporate national property and casualty brokers across North America appears to have reached an end, leaving a landscape occupied by two distinct camps: small regional operators and the new…

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A Brave New World

November 1, 1999 Sean van Zyl, Editor

The term “globalization” has become yet another buzzword expression littering the field of industry jargon. Similar to other grand but ambiguous phrases like “business reengineering” and “corporate repositioning” (among a broad host too numerous to mention), the term globalization jumps…

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THE HUB INVASION

November 1, 1999 Sean van Zyl, Editor

While most of the public broker networks appear to have eased off on their acquisitional sprees, newcomer The Hub Group Ltd. has no intention of slowing down. In fact, the group’s president Rick Gulliver has announced plans of a major thrust into the U.S. brokerage market in the year ahead, with the recent acquisition of a leading Chicago-based broker signaling the beginning of an ambitious campaign.

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Broker Networks PAUSE FOR BREATHER

November 1, 1999 Sean van Zyl, Editor

Although the public broker networks almost overnight captured 5% marketshare of Canada’s property and casualty insurance market in a stunning succession of acquisitions, the recent poor results of many of the operators, combined with a more wary investor attitude to…

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Identifying and Managing Risk

November 1, 1999 Jane Voll, director of policy and research, and Andrew Keppen, r

The Insurance Bureau of Canada (IBC) recently completed a survey in conjunction with management consultants Deloitte & Touche to identify what internal risk control procedures property and casualty insurers have or should be applying in evaluating strategic, operational and capital…

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INDEPENDENCE or INTERDEPENDENCE?

October 1, 1999 Sean van Zyl, Editor

Despite the recent and resounding victory of independent property and casualty insurance brokers in blocking banks from branch retailing of insurance, Canada’s brokerage community faces many challenges on the road ahead. Even without the bank threat, the distribution end of…

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Going for Wholesale or BROKE

October 1, 1999 Lowell Conn

The recent acquisition of insurance wholesale broker KMS Insurance by consolidator The Hub Group emphasizes the change consolidation is bringing about throughout the broker distribution channel. Wholesale brokers and managing general agents have been brought into the market fray of soft rates and the eternal drive for cost-efficiency. Is there a future for this particular breed of broker — most of the players believe so, but each appears to be taking a different course.

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Canada/U.S. data shows similar ails

October 1, 1999 by Canadian Underwriter

Canadian and U.S. property and casualty insurance results for the first half of 1999 show a marked decline in earnings, primarily due to weak investment returns and sluggish premium growth. Both the Canadian and U.S. industries witnessed a rise in…