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Massive growth earns insurance-related firms 14 spots on Canada’s Fastest-Growing Companies list

September 14, 2017 by Ian Portsmouth

The insurance industry might always look slow and staid to the casual observer, but this year’s PROFIT 500 list proves that exciting opportunities are just about everywhere in the economy — insurance included. Released today by CanadianBusiness.com, the 29th annual

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Small Canadian mutual insurers ‘may not realize’ all benefits of demutualization: A.M. Best

September 1, 2017 by Canadian Underwriter

While Economical Insurance plans to submit next year a conversion proposal outlining a proposal to demutualize, if a smaller mutual property and casualty insurer were to go through the same process as Economical, it “may not realize the benefits when

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Chubb broadens cyber enterprise risk management solutions for Canadian and American clients

August 30, 2017 by Canadian Underwriter

Chubb announced on Wednesday that it has broadened its enterprise risk management solutions for Chubb commercial cyber policyholders in the United States and Canada. Two new policy forms, Cyber Enterprise Risk Management and DigiTech Enterprise Risk Management, combine cyber insurance

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Saskatchewan Party leadership candidate proposes rolling back PST on insurance products

August 30, 2017 by Canadian Underwriter

Jeremy Harrison, a candidate for the leadership of the Saskatchewan Party and MLA for Meadow Lake, said on Tuesday that he would roll back the charging of provincial sales tax (PST) to insurance products as announced recently as part of

News AppointmentsInsuranceMergers and AqcuisitionsProfessional Development

Wawanesa names Chris Henn as president of U.S. operations

August 24, 2017 by Canadian Underwriter

Wawanesa Mutual Insurance Company, one of the largest property and casualty insurers in Canada with a growing presence in the United States, announced on Thursday that Chris Henn has been appointed president of its U.S. operations effective Aug. 31. Prior

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Supreme Court ruling against electronics firm director raises concern of increasing exposure of individuals to oppression remedy claims

August 17, 2017 by Canadian Underwriter

A ruling last month by the Supreme Court of Canada means it will be more difficult for corporate directors to have oppression remedy lawsuits against them summarily dismissed by courts, a lawyer suggested Wednesday in a blog post. The decision

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Commercial premiums down 15% for AIG

August 3, 2017 by Canadian Underwriter

American International Group Inc. reported Wednesday its net income was $1.13 billion during the three months ending June 30 and its Q2 combined ratio in personal insurance improved 5.9 points from last year, but the combined ratio in commercial insurance

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McDougall Insurance & Financial merges with Monkman Gracie Johnston Insurance

August 1, 2017 by Canadian Underwriter

Ross McDougall, CEO of McDougall Insurance & Financial, announced on Tuesday that the brokerage has merged with Monkman Gracie Johnston Insurance effective immediately. Operating out of Peterborough, Ont., Monkman Insurance and its 22 employees join Belleville, Ont.-headquartered McDougall Insurance to

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

Record breaking US$6.3 billion of non-life property cat issuance in Q2 sees ILS reach “critical juncture:” Willis Towers Watson Securities

July 28, 2017 by Canadian Underwriter

Non-life insurance-linked securities (ILS) issuance reached a record breaking US$6.3 billion in Q2 2017, continuing the trend from the first quarter of the year, Willis Towers Watson Securities’ said in its latest ILS Market Update, released on Friday. ILS assets

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Chubb reports P&C combined ratio of 88% for Q2 2017

July 26, 2017 by Canadian Underwriter

Chubb Limited has reported a P&C combined ratio of 88% for the second quarter of 2017 ending June 30, down 3.2 points from 91.2% in the same quarter last year. Chubb released its financial results on Tuesday. The insurer reported

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Global insurance brokers sector will hit US$54.8 billion in 2021 as growth remains impressive despite deceleration: report

July 25, 2017 by Canadian Underwriter

The global insurance brokers sector will reach US$54.8 billion in 2021, according to data from research company MarketLine. The global insurance brokers sector has experienced “impressive growth” in recent years, registering a compound annual growth rate (CAGR) of 7% between

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MacCoy Insurance Brokers joins Atlantic Canadian brokerage Archway Insurance

June 30, 2017 by Canadian Underwriter

Archway Insurance, one of Atlantic Canada’s largest insurance brokerages, announced on Wednesday that is has a new location in Cape Breton, N.S.: MacCoy Insurance Brokers Ltd. Effective July 1, MacCoy Insurance will become the 22nd location of Archway Insurance, which