Industry
Claims management group Crawford Adjusters Canada has acquired Edmonton-based Leonard, Hirst & Miller Adjusters (LH&M) for an undisclosed amount. The firm boosts Crawford’s position in Alberta to nine offices and over 100 employees. LH&M is described as a multi-line adjusting firm operating across Alberta. Crawford CEO Glenn Gibson says the acquisition will involve restructuring the […]
By Canadian Underwriter | August 10, 2001
1 min read
Specialty auto insurer Kingsway Financial Services (TSE: KFS; NYSE: KFS) continues to see growth in premiums and earnings mid-way through 2001. In a press release, Kingsway CEO Bill Star notes that the company is reporting record profits, earnings per share and premium levels for the second quarter of the year, and in year-to-date totals.Net income […]
By Canadian Underwriter | August 9, 2001
In a strange twist, Canadian-based Fairfax Financial Holdings continues its downward slide as its reinsurance subisidiary, Odyssey Re, experiences phenomenal growth. In releasing second-quarter 2001 results, Fairfax acknowledges that the company’s profits fell 45%, down to $46 million as compared with %83.6 million for the same quarter last year. The slump saw earnings per share […]
By Canadian Underwriter | August 8, 2001
Minnesota-based The St. Paul Companies (NYSE: SPC) has purchased specialty liability underwriter London Guarantee Insurance Co. from the Great West Lifeco Inc. (TSE: GWO) for about $125 million.London Guarantee is ranked second as market leader in underwriting surety business and financial/professional service products in Canada. The company’s total net written premiums for the 2000 financial […]
By Canadian Underwriter | August 3, 2001
Network consolidator Anthony Clark International Insurance Brokers Ltd. (TSE: ACL) has acquired an unnamed independent brokerage located in Calgary, Alberta for an undisclosed amount. A media statement issued by the brokerage group says the acquired operation generates about $1 million in annual premiums. The latest acquisition is the 18th of a string of brokerages acquired […]
The Economical Insurance Group has completed restructuring of Hartford Insurance Co. of Canada which was acquired at the beginning of this year. The acquisition was given approval by regulators in late April.The Hartford Canadian operation has been renamed Langdon Insurance Co. which will serve as the specialty commercial lines division of the Economical group. Langdon […]
By Canadian Underwriter | August 2, 2001
Citigroup Inc. Canadian subsidiary, London & Midland General, is selling part of its affinity business to Canada Life Assurance Company. Canada Life annouces it will take over London & Midland’s “non-affiliate” affinity business, which is expected to bring in over $15 million in premiums this year.The sale includes London & Midland’s accidental death and dismemberment […]
Alberta’s insurance regulator has issued a public warning against operators said be selling insurance products within the province without a license. This move follows on legal action taken by Ontario’s financial services regulator last month against a company believed to have been illegally underwriting property and casualty insurance products. An Insurance Bureau of Canada (IBC) […]
July 31, 2001
Property and casualty insurers have gained a temporary reprieve from the Office of the Superintendent of Financial Services (OSFI) on implementation of the regulator’s proposed reporting of discounted unpaid claims, according to the Insurance Bureau of Canada (IBC). The new reporting requirement was supposed to take effect from the beginning of January this year. However, […]
It was annual broker review time. Like all my company’s marketing representatives, I had to hold up an objective magnifying glass once a year to each of my brokers. I had to assess each one, listing their strengths and their weaknesses. This annual review included charts showing the mix of business my company was receiving […]
9 min read
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