Queensway regains profit momentum
June 1, 2000 by Canadian UnderwriterListed insurer, Queensway Finan- cial Holdings Ltd. (TSE:QFH) bounced back into the black in the first quarter of the current financial year, disclosing a 3 a share profit compared with a 47 a share loss for the same period the…
Kingsway produces 1st quarter recovery
June 1, 2000 by Canadian UnderwriterFollowing a fourth quarter loss for the 1999 financial year, specialty listed insurer Kingsway Financial Services Inc. (TSE:KFS) brought its bottom-line figures back into the black for the first quarter of the current year. Earnings for the first quarter of…
Kingsway acquires AXA fleet book
June 1, 2000 by Canadian UnderwriterInsurer AXA Canada has sold its book of commercial trucking business, consisting of ten vehicles and more, to specialty insurer Kingsway Financial Services Inc. The book is valued at about $23 million in annual premium. As part of the arrangement,…
Multi-Distribution: Switching channels
June 1, 2000 Vikki SpencerRecent management consultant surveys of the North American property and casualty insurance industry have highlighted distribution as the number-one future concern facing insurer CEOs. The reports all weigh strongly in favor of integrated multi-distribution approaches with the Internet playing central…
“Integration” or… “Assimilation”
June 1, 2000 Sean van Zyl, EditorWith the recent approval of the U.S. Financial Services Modernization Act, a considerable amount of attention in Canada has been turned to watch developments south of the border. Financial services legislative reform in the U.S. has opened the door to…
FSCO Tightens Compliance Standards
May 1, 2000 James Cameron, president of Cameron & Associates Insurance ConsuWith recent changes having been introduced by the Financial Services Commission of Ontario (FSCO) to insurer market conduct self-audits, there is a sense that the regulator is toughening its position on reporting non-compliance which could have serious ramifications for the insurance industry.
IBAO AGM AND MID-YEAR CONFERENCE: Pulling Together
May 1, 2000 Sean van Zyl, EditorThis year’s Insurance Brokers Association of Ontario (IBAO) annual general meeting and mid-year conference, which was recently held in Ottawa, drew focus on the need for the brokerage community to unite in the face of rapid consolition and the technological…
Independent Brokers: Networking Technology a Powerful Tool
May 1, 2000 Brian Thompson, president of SurNet Insurance GroupIf you are a small independent insurance broker doing business in today’s market, you are no doubt feeling uncertain about your future. With the advancement of direct writers and the broker network consolidators, who could blame you. However, for those in the brokerage community willing to embrace technology advantages, the future can be a bright one.
Crossing the Floor
May 1, 2000 Sean van Zyl, EditorThe recent acquisition of broker network consolidator Canada Brokerlink by insurance company Allianz Canada appears to have set off a series of fireworks on the insurance industry’s skyline — an event which could result in a significant change in the…
High Impact Ahead
May 1, 2000 Sean van Zyl, EditorWith the growth of property and casualty insurance industry earnings having plummeted to almost a 20-year low on the back of poor investment returns and intense rate competition — which saw last year’s annual rate of premium growth clock in…
Auto Repair Perspective: Work For, Not Against
May 1, 2000 John Norris, executive director of the Hamilton District AutobodThe world of repair shops and front-line collision damage appraisers is very different to that of the corporate insurance industry. A closer understanding of the challenges faced by both sides is clearly needed. In fact, with both bodyshops and insurers…
THE AIR OUT OF THE BAG
May 1, 2000 Vikki SpencerAirbags recovered from written-off vehicles will be used for collision repairs in British Columbia, likely before the end of the year, says a researcher at the province’s public insurance organization. The decision follows testing on salvaged airbags conducted by the…