Industry
Listed broker network consolidator, The Hub Group (TSE:HGB), lifted revenue by more than 127% to $36.6 million for the first quarter of the 2000 financial year compared with $16.1 million achieved for the same period the year prior. The revenue growth saw earnings more than double year-on-year to 20c a share from 9c a share […]
May 31, 2000
1 min read
Larry Simmons is stepping into the role of president and COO of Royal & SunAlliance Canada, effective with the departure of Linda Matthews later this year. Simmons is currently COO of commercial insurance for the company’s US operations and has been with R&SA since 1988. The company has also announced the promotion of Terry Broderick […]
2 min read
In a bid to become a full-service technology provider to the insurance industry, Toronto-based Keal Technology announced it has bought the insurance brokerage management systems division of CGI. The move makes Keal one of the largest broker systems providers in Canada. Keal is undaunted by the prospect of entering what some say is already a […]
Listed 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 year prior. The company suffered severe losses last year as a result of its troubled […]
Listed broker network con- solidator, Equisure Financial Network (TSE:EFN), reported a 50% drop in earnings for the first quarter of this year to 2c a share compared with the same period previous. Although consolidated revenue for the first quarter of the 2000 financial year rose by 47% to $18.3 million (1999: $12.4 million), net income […]
The 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 current balance of power on the issue of client ownership. As one industry insider source […]
By Sean van Zyl, Editor | April 30, 2000
3 min read
The 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 facing extremely tight operating margins in the highly competitive auto repair market, it can only […]
By John Norris, executive director of the Hamilton District Autobod | April 30, 2000
6 min read
In April, the Canadian government stopped underwriting domestic credit insurance. This is a welcome response to our ongoing industry lobby. This breakthrough shows that a persistent and sustained effort is the key to eventually convince governments to also exit other insurance businesses across Canada.
By Paul Kovacs, Senior vice president at the Insurance Bureau of Ca | April 30, 2000
5 min read
Auto physical damage claims (APDs) represent a significant portion of claim costs for most insurers dealing in personal lines business. But, should this area of claims management be simply seen as the “dark evil” of being in the business, or rather an opportunity to improve profitability and gain a competitive edge. If you believe APD […]
By Roch Lacroix, vice president of Mitchell International Canada | April 30, 2000
Legal action against insurance companies in the U.S. for alleged unauthorized use of aftermarket parts in vehicle repair have bubbled up into Canada. Within months of a successful $1.2 billion class action in Illinois against State Farm Insurance, similar suits have been filed in Quebec against AXA Canada, Groupe Desjardin and ING Canada, and in […]
By David Carr | April 30, 2000
8 min read
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
