Industry
Toronto’s Tredd Insurance Brokers Ltd. has announced the purchase of H.E. Hunt & Associated Ltd. Insurance Brokers. H.E. Hunt, based in Calgary, is now a wholly owned subsidiary of Tredd, but will continue to operate under its previous name. The company has a strong presence providing insurance for the oil and gas industry. Ian Eddy, […]
By Canadian Underwriter | September 6, 2012
1 min read
The low interest rate environment and declining investment returns are putting stress on the insurance industry and having a significant impact on re/insurers, Kurt Karl, chief economist for Swiss Re, noted in a blog post on Sept. 5. “The vulnerability of different lines of business depends on the importance of investment income as a source […]
Omega Insurance Holdings Inc. has announced Matthew Cook as its new president of the group, including both subsidiary companies, Omega General Insurance Company and Focus Group Inc. Cook was previously the group’s chief financial officer and company secretary. He joined the group in 2004, when the Omega General Insurance Company was created, after working as […]
Many Canadians are willing to risk travelling without insurance, often because they find the products confusing, notes new survey results from American Express Canada. About a third of the 1000 Canadians polled in July have never purchased travel insurance, American Express reports in a statement. That percentage is even higher among Canadians between the ages […]
By Canadian Underwriter | September 5, 2012
2 min read
Intact Financial Corporation today announced the completion of its $530-million acquisition of Jevco Insurance Company, a wholly owned subsidiary of The Westaim Corporation. The acquisition of JEVCO, a leading provider of specialty and niche insurance products for individuals and businesses in Canada, increases Intact’s direct premiums written by approximately $350 million on a pro forma […]
Total global reinsurer capital totalled a record $480 billion (all figures U.S.) at the mid-year point of 2012, notes a new report by Aon Benfield, the intermediary and capital advisor of Aon. That number represents a 5% increase from year-end 2011, states the latest Aon Benfield Aggregate (ABA) report. In its study of 31 publicly […]
SCM Insurance Services has launched a new company to answer what it sees as increased industry demand for better business intelligence tools and enhanced access to risk information. Opta Information Intelligence will provide underwriters, brokers, corporate risk managers and municipalities with access to risk information, as well as proprietary technology for analysis. The new company […]
Two leading firms in the insurance telematics space have formed a strategic alliance to provide personal lines auto insurers with data and solutions for usage-based insurance (UBI) programs. Towers Watson and Hughes Telematics, Inc. (HTI) will use the partnership to allow companies to bring UBI programs to market sooner, notes a press release. Towers Watson […]
Fitch Ratings reports its outlook for the global reinsurance sector remains stable, with further strengthening of already-strong capitalization and continued premium growth into 2013. Underwriting and operating trends are expected to support reinsurers’ current ratings over the next one to two years, notes Fitch Ratings’ Report: 2013 Outlook: Global Reinsurance, released on Sept. 3. “While […]
By Canadian Underwriter | September 4, 2012
RSA has announced two new appointments to its senior leadership team in Canada to support the company’s growth strategy in Quebec and Atlantic Canada. The company has named Glen Bates as vice president in Quebec, as part of its plans to acquire Quebec company l’Union Canadienne. Bates, formerly vice president in eastern Canada, will relocate […]
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