Canadian Underwriter


Feature Mergers and Aqcuisitions

“New School” Adjusting

July 1, 2003 Vikki Spencer

Adjusting may be a time-honored profession, but it is one facing an intense period of transition. New privacy rules, varied and changing auto insurance systems, the rise of class actions and growing concern with potential bad faith lawsuits. As if

Bob Carter
Feature Mergers and Aqcuisitions

Ontario Auto Losses Remain Under Spotlight

June 1, 2003 by Canadian Underwriter

As insurers await Bill-198 regulations, substantial problems remain within Ontario’s auto insurance system, says Mark Yakabuski the Ontario regional vice president of the Insurance Bureau of Canada (IBC). He recently spoke at the annual meeting of the Canadian Insurance Accountants

Bob Gunn
Feature

Royal consolidates Quebec and trucking business

January 1, 2003 by Canadian Underwriter

In two separate agreements, Royal & SunAlliance Insurance Co. of Canada has handed over its Quebec personal lines and long-haul trucking books as the company turns its focus to commercial lines. CGU Insurance Co. of Canada will be offering renewals

News Insurance

CGU gets renewal rights to Royal Quebec book

December 12, 2002 by Canadian Underwriter

CGU Insurance Co. of Canada will be offering renewals on Royal & SunAlliance’s Quebec personal lines book, notes a joint press release from the insurers. This will commence with April 1, 2003 renewals, as policies expire. Some of Royal’s Quebec

News Insurance

Markel and Royal reach agreement on trucking renewals

December 4, 2002 by Canadian Underwriter

With the recent disclosure that Royal & SunAlliance Canada would be reducing its long-haul trucking business, specialty insurer Markel says it will step in to offer coverage to clients.Through an agreement between the two insurers, Markel will become a market

Feature

Kingsway earnings up for third quarter (December 01, 2002)

December 1, 2002 by Canadian Underwriter

Kingsway Financial Services Inc. (TSX: KFS) increased net income for the third quarter by 51% to $21.7 million from the $14.3 million made for the same period last year. This saw a 22% jump in earnings to 44 a share

News Insurance

Kingsway earnings up for third quarter (November 08, 2002)

November 8, 2002 by Canadian Underwriter

Kingsway Financial Services Inc. (TSX, NYSE: KFS) is reporting a record increase in earnings per share for the quarter ending September 30, 2002. The company’s net income for the third quarter increased 51% to $21.7 million from $14.3 million during

Patrick King
Feature

Reinsurance Strategies 2003: Keeping the Boat Afloat

November 1, 2002 Sean van Zyl, Editor

While the underlying tone of last year’s reinsurance treaty negotiations in the aftermath of 9/11 was “price! price! price!” – with an average upward rate adjustment of about 40% having been implemented across the Canadian marketplace – the 2003 renewals are likely to be driven by a tightening of coverage terms and increased use of exclusions, say CEOs partaking in CU’s annual “Reinsurance Strategy Outlook”. That said, pricing will most definitely be a factor in the upcoming treaty renewal round, with certain classes of business such as liability – which has incurred significant losses primarily as a result of the hemorrhaging auto markets – likely to face rate adjustments of between 40% to 80%. Exclusions on emerging perils such as asbestos, mold and nuclear will also feature dominantly in the renewals. Overall, the CEOs say, expect reinsurers to apply detailed underwriting as international pressure continues to restrain capacity until the tumultuous waters of the marketplace return to a profitable calm.

Feature

Clarification (October 01, 2002)

October 1, 2002 by Canadian Underwriter

In the July 2002 CU article “Rates Keep On Trucking”, it stated that AXA Canada has withdrawn from trucking coverage. The company still writes for trucks of 9 power units or less.

Feature

On The Move (October 01, 2002)

October 1, 2002 by Canadian Underwriter

Lorie J. Guthrie Phair has been named president and CEO of brokerage Hargraft Schofield Inc. based in Toronto. Guthrie Phair operated her own family brokerage for 20 years, is a past president of RIBO and past president of the IBTR.

News Insurance

Hub expands U.S. network

September 5, 2002 by Canadian Underwriter

Hub International Ltd. is expanding its U.S. brokerage network with the acquisition of New Jersey-based C.S. Nenner Inc. The new operation is being purchased by Hub’s Kaye Insurance Associates Inc. (KIA) in New York, in a deal for undisclosed amounts

Feature

Winners & Losers

August 1, 2002 Bill Star, president of Kingsway Financial Services Inc.

The insurance industry has gone through two years of a hard market which started mid-2000 and became more restrictive following the disaster of September 11 of last year. Currently, the tight conditions experienced within the marketplace remain a dominating factor, particularly for managing general agents (MGAs) and program business.