Industry
TORONTO – Fairfax Financial Holdings Ltd. has reported a big increase in net earnings in the first quarter, reflecting gains in its investment portfolio and improved underwriting results from its insurance businesses. The Toronto-based property and casualty insurer, which has operating companies in the United States and Canada, said its net income was US$784.6 million […]
By The Canadian Press | May 5, 2014
2 min read
XL Group plc reported Thursday its financial results for the quarter ending March 31, reporting a 1.3-point increase in its property & casualty loss ratio and a 19.8% drop in underwriting profit. The Dublin-based carrier also announced Thursday that its XL Insurance (Bermuda) Ltd. subsidiary entered into an agreement to sell XL Life Reinsurance (SAC) […]
By Canadian Underwriter | May 2, 2014
Property and casualty insurance brokerage BrokerLink has announced the acquisition of the ownership position in Anthony Clark Insurance Brokers Ltd (ACI), previously held by Anthony Clark International Insurance Brokers Ltd. “ACI is a natural fit with BrokerLink. Their existing personal insurance and group programs compliment our own,” Chris Miller, head of the Alberta region at BrokerLink […]
The Ontario government announced Thursday it plans to eliminate the small business deduction on corporate taxes for large firms, to raise individual tax rates for those earning $150,000 or more and to require employers not offering their own pension plan to pay 1.9% of employees’ earnings towards a new mandatory provincial pension plan. Finance Minister […]
By Canadian Underwriter | May 1, 2014
3 min read
Allied World Assurance Company has launched its ForceField management liability product suite into the Canadian market, the first of its professional lines products to be offered here. The product line offers five coverages for private companies and non-profit organizations. they include Directors & Officers Liability, Employment Practices Liability, Fiduciary Liability, Crime Coverage, and Kidnap & […]
1 min read
Wintrust Financial Corp., through its subsidiary First Insurance Funding of Canada, has acquired the shares of Policy Billing Services Inc. and Equity Premium Finance Inc., two affiliated Canadian insurance premium funding and payment services companies. Terms of the deal were not disclosed. Policy Billing Services Inc. provides payment solutions to insurance brokers and agents. Its […]
ACE Ltd. has reported an 11.1% year-over-year increase in net premiums earned within its North American property & casualty insurance business and a 2.4-point drop in the loss and expense ratio for the first quarter of the year. Zurich-based ACE, the holding company that owns the ACE Group Companies, reported $1.487 billion, in net premiums […]
Ontario auto insurance is in need of a major overhaul. Tinkering with the already poor system can only serve to make matters worse, and once again, miss an opportunity to make the significant changes required to return the system to efficiency and fairness.
By William Star, President and Chief Executive Officer, Trillium Insurance Group Inc. | April 30, 2014
5 min read
Canada's automotive business landscape is undergoing transformative change. A uniquely Canadian approach to how insurance claims and vehicle repair economies work together on a day-to-day basis is critically important to support a thriving and sustainable industry.
By Leanne Jefferies, Director of Collision Programs, AIA Canada; and Director, CCIF Skills Program | April 30, 2014
What if a broker accidentally overhears a personal conversation on the street that is directly related to a client's decision to cancel a policy? What possible responses are available to the broker, should he or she decide to employ a rules-based, people-based or situation-based approach?
By The CIP Society of the Insurance Institute of Canada | April 30, 2014
6 min read
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