Queensway Financial Holdings Ltd. (TSE: QFH), recently the subject of a management purge by new U.S.-based majority stakeholders, has released its second quarter figures posting a significant loss over last year’s figures. For the first six months of 1999, the…
Ken Orr, incoming president of the Insurance Brokers Association of Ontario (IBAO), believes brokers need to invest further in continuing professional development. Despite a successful launch of the IBAO’s “travelling education road show” in the past term, early returns suggest…
Canada is big business — amounting to some $17 billion each year. And, although Canada’s money recycling black market is minor in global terms (which the U.N. estimates to be $1 trillion worldwide), there are weaknesses in the current financial…
The Risk and Insurance Management Society (RIMS) has announced Christine Zahn has been named as the new director of events management and Mary Roth has been named to the newly created position of deputy executive director. Zahn, who joined RIMS…
Is a new subsidiary, new product or policy form on the horizon for your company? If so, better be prepared for slippery target dates. Lengthy delays in licensing can occur when companies or their brokers develop new products which don’t…
In a deal valued at $139.5 million, CGU Canada Ltd. has purchased The GAN Company of Canada Ltd. from its French owner GAN International. GAN Canada is the 22nd largest property & casualty group in the country with net written…
As we completed our tour of the brokerage’s renovated offices, Saul led me into a small boardroom on the second floor. Three men sitting around the table rose to their feet. “Dave,” he said with a smile, “meet my three…
Data security consultants NCR Corporation recently held a meeting for Canada’s business leaders in the retail, financial, telecommunications, insurance and government sectors, entitled “Consumer Privacy: Good for Business”. The session examined how Canadian organizations can balance the global demand for…
Last June the federal government released its white paper on financial services regulation. While the gist of the paper was very much in favor of protecting the existing rights of members of the property and casualty insurance industry, contained within…
Jim Ball, appointed president of the Insurance Brokers Association of Canada (IBAC) for the 1999/2000 term at the association’s recently held annual general meeting in Winnipeg, Manitoba, predicts a secure future ahead for independent brokers. However, like the inevitability of…
With mass consolidation converting the insurance industry into a global industry — and the increased cross-border transactions, partnerships and mergers between U.S. and Canadian insurer — it is fitting that North American insurers will meet this Fall for the first…
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…