Industry
XL Group plc is seeking to acquire all capital stock of Catlin Group Limited, a move that, if approved, will create a combined business expected to have a leading presence in the global specialty insurance and reinsurance markets. XL Group announced Friday that it has entered into an agreement under which it will offer to […]
By Canadian Underwriter | January 9, 2015
4 min read
The Insurance Brokers Association of Ontario (IBAO) announced Thursday that Michael Brattman has been elected as the association’s 72nd president. Brattman was officially inducted at the IBAO Convention held in Ottawa in October, and formally assumed his role as president on Jan. 1. Related: Profile – Evolving with Customers Brattman is a partner and vice president of […]
By Canadian Underwriter | January 8, 2015
2 min read
Allianz Worldwide Partners and The Co-operators Group have completed the merger of their respective Canadian travel insurance companies to create one of the largest travel insurance providers in the country, notes a joint statement issued Thursday. The merger of Allianz Global Assistance Canada and TIC Travel Insurance Coordinators, first announced in September, has created the […]
Claims supervisors at U.S. property and casualty insurance companies often have misplaced focus and could be spending more time reviewing their claim handlers’ files, according to a new survey report from Towers Watson. Chief claims officers typically budget for supervisors to spend two to six hours on reviewing their direct reports’ files, suggest the results […]
By Canadian Underwriter | January 7, 2015
The Co-operators General Insurance Company announced Wednesday that its wholly-owned subsidiary has purchased Bill Hartley Insurance Services Ltd. in Victoria, B.C. a brokerage offering home, auto, farm and commercial insurance policies. Brokerage founder Bill Hartley began his insurance career in 1950 as an agent for a predecessor of Co-operators Life Insurance Company. Clients’ existing insurance coverage […]
1 min read
New capital inflows, excess capacity and lower catastrophe losses are driving competition and innovation across the reinsurance industry, which saw pricing fall in many segments at Jan. 1 renewals, notes a new report issued Wednesday by Guy Carpenter & Company, LLC. Guy Carpenter’s 2015 global renewals report, Shaping the Future: Positive Results, Excess Capital and […]
The Insurance Institute for Highway Safety recently released the list of 2015 vehicles awarded Top Safety Pick and Top Safety Pick+ ratings by IIHS. A total of 33 vehicles were awarded Top Safety Pick+ and 38 were awarded Top Safety Pick. New for 2015 models, the Top Safety Pick+ designation requires a “front crash prevention […]
By Canadian Underwriter | January 6, 2015
Classic vehicle insurer Hagerty has appointed Richard Hutchinson as its new president, effective Jan. 5, 2015. Hutchinson joins the Michigan-based company from the Progressive Corp., where he held several leadership positions during his 29-year tenure there. As Hagerty’s president, Hutchinson will oversee the company’s sales force, product design, underwriting and claims, marketing operations and strategic […]
Desjardins Group’s purchase of State Farm Canada’s businesses in property and casualty and life insurance, as well as its Canadian mutual fund, loan and living benefits companies, officially closed Jan. 1. Desjardins Group has become, through the acquistion, the second largest P&C insurance provider in Canada with annual gross written premiums increasing from more than […]
By Canadian Underwriter | January 5, 2015
Multi-line brokerage RRJ Insurance Group has purchased Kitchener, Ont.-based Bernhardt Insurance Service in a deal that was effective Dec. 1, 2014. Bernhardt, which was established in 1937 and offers personal and commercial products, will now operate under the Pioneer Insurance Brokers name and operate out of Pioneer’s location in Kitchener. “We are delighted with this […]
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