Canadian Underwriter


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On The Move (February 01, 1999)

February 1, 1999 by Canadian Underwriter

Hannover Re has announced the appointment of Dr. Detlef Steiner to the Executive Board at Hannover Re for the North American market, for worldwide facultative reinsurance and claims. Until 1998, Steiner was a member of the Corporate Executive Board at

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AXA forms Quebec bank alliance

February 1, 1999 by Canadian Underwriter

In response to the opening up of Quebec’s insurance market to the Caisse Populaire Desjardins through the controversial Bill 188 which was passed by the province last summer, AXA Insurance has entered into a marketing partnership with National Bank to

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ebix.com lifts technology bar

February 1, 1999 by Canadian Underwriter

Delphi Information Systems Inc., another supplier of broker management software, has released details of a new web browser-enabled policy management system. Located at www.ebix.com, ebix.com provides carriers and brokers with a data exchange system that allows brokers to send information

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Aces high

February 1, 1999 by Canadian Underwriter

Bermuda-based ACE Ltd., listed on the NYSE, has acquired the global property and casualty insurance operations of CIGNA Corporation for US$3.45 billion. Subject to regulatory approval by the end of June this year, the deal will be cash financed which

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Earnings squeeze on U.S.

February 1, 1999 by Canadian Underwriter

U.S. insurers will feel the earnings pinch this year, with many companies forced to take on riskier investment exposures to bolster their bottom-lines, says Ernst & Young’s 1999 “State of the Insurance Industry” report. Other findings warn the U.S. property

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Solutions from the Ashes

February 1, 1999 Lowell Conn

The Synchron initiative, once heralded as the industry’s ultimate electronic interface solution between companies and point of sale, collapsed last year. From its ashes have risen several alternative solutions, one of the most prominent being The Freedom Alliance, a strategic

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ING strengthens B.C. position

February 1, 1999 by Canadian Underwriter

ING Canada, through its Calgary-based subsidiary Western Union Insurance, has entered into a strategic alliance with B.C.-based BCAA. Under the agreement, ING will purchase BCAA’s subsidiary, BCAA Insurance Corporation, for undisclosed terms. BCAA will continue to sell home and auto

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Jokers Wild

February 1, 1999 Sean van Zyl, Editor

Just over half a year has elapsed since the burial of Synchron. Since then, little appears to have been achieved in finding a replacement solution to the industry’s drive for a single interactive technology interface solution. Add to which, recent

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Third quarter data shows cat costs

February 1, 1999 by Canadian Underwriter

The U.S. property and casualty insurance industry posted US$23.2 billion in net taxed income for the first nine months of 1998, showing a 15% drop from the $27.4 billion made over the same period in 1997. The decline is attributed

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AutoRate Warning

February 1, 1999 Linda Matthews, COO of Royal & SunAlliance

Ontario’s auto insurance regulations under Bill 59, and the latest revisions under Bill 90, have created a unique legislative environment in the provincial governing of consumer insurance. So much so that several provincial insurance regulators have eyed the legislation as

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Financial MANAGEMENT LIABILITY

February 1, 1999 Shelley Boyes

Bugs, big deals, bad spills and a certain public official’s sexual high crimes and misdemeanors were all key factors driving the corporate insurance market throughout 1998. And the same scary financial exposures will likely be very much in the minds

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Canadian Perspective

January 1, 1999 by Canadian Underwriter

The Canadian aviation insurance market is relatively small in the global picture, notes Mike Wills, manager of marine and aviation at Royal & SunAlliance. The Canadian industry’s total aviation net premiums amounted to Cdn$83.8 million for 1997 compared with the