Hub raises U.S. stake
March 1, 2001 by Canadian UnderwriterBroker network consolidator Hub International Ltd. (TSE: HBG) has acquired a major U.S. brokerage, Kaye Group Inc. (Nasdaq: KAYE), for about US$118.6 million. The deal is subject to regulatory approval and the consent of KAYE shareholders, who will receive the…
CYBER-EXPOSURE a risky business
March 1, 2001 Vikki SpencerCorporate takeovers. Plummeting stock prices. Falling profits. These used to be the primary fears of the corporate world. Today, enemy number one could be a fourteen-year-old sitting in front of a home computer with the power to bring business to…
TENSIONS OF A TIGHTENING MARKET
March 1, 2001 AxiomOne look at his rapidly reddening face and I could tell that our vice president was not enjoying himself. Worse than that, he seemed ready to explode. As the senior broker representative in the center of the conference room continued…
TECHNOLOGY STRATEGIES: STAYING AFLOAT
March 1, 2001 Gordon Dunn, director, new business development at HUONRising expense ratios, soft market conditions, consolidation. Just when the insurance industry thinks it has weathered the stormy climate of the last decade, a new millennium brings the uncertainty of technological advancement. Companies eager to reduce costs may be prepared…
E-INSURANCE: BREAKING DOWN REGULATORY BARRIERS
March 1, 2001 Sean van Zyl, EditorWith the recent approval of federal and provincial laws paving the way for the development of e-commerce, property and casualty insurance regulators in Canada face the tough decision of whether or not online buyers need the extent of “hand holding”…
New Lloyd’s includes tough stance
March 1, 2001 by Canadian UnderwriterFollowing an announcement of a major market “modernization restructuring” toward the end of last year, Lloyd’s of London has adopted two tough stands to ensure a more speedy flow of premiums collected as well as tighten up on shoddy regulatory…
Taking Shape: Insurers move online
February 1, 2001 Vikki SpencerThe potential of the Internet has been bandied about for the past several years and finally insurers seem to be taking heed of the message. In an effort to reduce escalating expense ratios, insurers are putting the Internet to work.…
On The Move (February 01, 2001)
February 1, 2001 by Canadian UnderwriterCGU Canada is making several organizational changes effective June 1, including the appointment of Igal Mayer as president and CEO of CGU Canada. He was formerly finance director for Norwich Union Insurance and replaces Mark Webb. Webb has been named…
Canadian final numbers support hardening
February 1, 2001 by Canadian UnderwriterThe final results released by StatsCan on the performance of the Canadian property and casualty insurance industry through to the end of the second quarter of last year removes any doubt that the market has entered into a broad price…
Underwriting losses plague U.S. insurers
February 1, 2001 by Canadian UnderwriterU.S. property and casualty insurers saw their net income for the first nine months of last year fall by 5% to US$16.5 billion compared with US$17.4 billion reported for the same period in 1999, according to the Insurance Services Office…
Lloyd’s boosts capacity in Canada/U.S
February 1, 2001 by Canadian UnderwriterLloyd’s of London has risen its 2001 writing capacity by 10% over last year to US$16.6 billion. This is the largest year-on-year increase the market has seen since 1993/4, according to a media statement. “The growth in Lloyd’s capacity indicates…
The Year of Business
January 1, 2001 Sean van Zyl, EditorFirst came the “dot.com startups”, then came the “dot.com crashes”. The year that Internet business is expected to break the backbone of traditional business operators has been widely and inaccurately predicted for some time, speakers at the Insurance Information Centre…