Industry
The Insurance Institute of Canada celebrated its 50th anniversary with a special dinner in Toronto recently. Welcoming guests is executive committee deputy chair Jan Tomlinson of Chubb. The event included the IIC board of directors, past chairs, sponsor company CEOs, guests from the CPCU and CII and institute directors.
November 30, 2002
1 min read
The Registered Insurance Brokers of Ontario (RIBO) again saw the introduction of a new award, in the name of former president Donald W. Lambie (pictured receiving a plaque from current president Joanne Brown) to be presented annually to the person attaining the highest mark on the RIBO qualification exam. Also, top Level II qualifier Robert […]
Once more talented insurance professionals had a Night to Shine and raise funds for the Women in Insurance Cancer Crusade in the first Hallowe’en Benefit Bash in Toronto. Performing were the Accidental Benefits: Gary Gardner, Terry O’Brien, Lee Aldridge, Tom Golfetto, Laura Narby, Brian Hitchlock and Greg McCutcheon, joined by special guest Brad Quinn. Thanks […]
The Liberal B.C. government announced that it has temporarily opted against open competition in the province’s basic, mandatory auto insurance market. The provincial government delivered its long-awaited “Core Review” findings in investigating the operation of crown insurer, the Insurance Corp. of British Columbia (ICBC), with the view of deregulating the insurance market as part of […]
3 min read
Kingsway Financial Services Inc. (TSX: KFS) increased net income for the third quarter by 51% to $21.7 million from the $14.3 million made for the same period last year. This saw a 22% jump in earnings to 44 a share compared with the 35 a share shown for the third quarter of 2001. The company’s […]
2 min read
Despite a declining underwriting loss for Canadian p&c insurers thus far in 2002, investment market declines are hitting balance sheets hard.In its quarterly “Perspectives” report, the Insurance Bureau of Canada (IBC) notes that in the last two quarters investment income has dropped $500 million. This muddied the impact of increased premiums and a lower loss […]
By Canadian Underwriter | November 29, 2002
Oakville, Ontario-based Pethealth Inc. has expanded its U.S. presence through two new distributors. The nation’s largest pet insurance provider has signed agreements with the U.S. largest union benefits provider, Union Privilege. Pethealth’s PetCare insurance program will be exclusively marketed to members of the American Federation of Labor and the Congress of Industrial Organizations starting at […]
By Canadian Underwriter | November 28, 2002
Western Financial Group (TSX: WES), formerly Hi-Alta Capital, experienced continued growth in the third quarter, with revenue and income up.For the three months ending September 30, 2002, revenue was $7.32 million, versus $6.31 million for the same period in 2001, a gain of 15.9%. For the first nine months of the year, revenue was $20.79 […]
TD Bank Financial Group has ended its fiscal year on a sour note, reporting a yearend loss of $160 million or $0.25 per share, compared with earnings of $1.3 billion, or $2.05 per share, last year.Much of the loss stems from beleaguered stock markets, with TD chair and CEO A. Charles Baillie noting, “our credit […]
The same day Gerling Global announced it would exit the reinsurance business altogether, its Australian non-life business was bought by QBE Insurance Group.Sydney-based QBE Group says it will pay AUD$130 million (Cdn$114) for the renewal rights to the business. The deal does not include trade credit policies and Australian clients of non-local Gerling offices.The Australian […]
By Canadian Underwriter | November 27, 2002
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