Industry
Boomerang Tracking Inc. (TSE: BMG) notes that during the past 12 months, through agreements with 32 insurance companies in Quebec and 14 in Ontario, the company’s vehicle tracking device has led to the recovery of over 1,000 vehicles valued at more than $50 million. In announcing its year-end financial results, the company also says that […]
By Canadian Underwriter | July 5, 2001
1 min read
Kingsway Financial Services (TSE: KFS) has filed an amended rights offering prospectus with the Canadian securities regulator that now offers five million of the company’s common shares through the recently announced public offering. An additional 750,000 common shares have been allocated for over-allotments. The underwriting managers for the public offering now comprise CIBC World Markets […]
By Canadian Underwriter | July 4, 2001
Calgary-based brokerage group Anthony Clark International Insurance Brokers Ltd. (TSE: ACL) is looking to implement a shareholders’ rights plan that would enable the company to block hostile takeover bids. ACL shareholders will be asked to approve the rights plan at the upcoming annual general meeting. The Toronto Stock Exchange has conditionally accepted the rights plan, […]
The Insurance Brokers Association of Canada (IBAC) today called on all broker-supporting insurers to support the industry’s attempt to develop a business-to-business, real-time Internet portal through the Centre for the Study of Insurance Operations (CSIO). The first development phase of the CSIO’s portal, which will allow brokers to secure online comparative price quoting on personal […]
By Canadian Underwriter | July 3, 2001
Broker consolidator Hub International Ltd. (TSE: HGB) says the previously announced acquisition of U.S.-based brokerage Kaye Group Inc. has been finalized. Kaye shareholders will receive US$14 a share in cash under the terms of the deal.As part of the transaction, Hub issued US$35 million in subordinate convertible debentures to its parent company, Fairfax Financial Holdings […]
Manitoba’s crown corporation insurer, Manitoba Public Insurance (MPI), has applied to the province’s Public Utilities Board for an overall premium reduction of 1.2%. This will be the fourth consecutive year of rate reductions for the province’s drivers, the crown insurer says. The proposed premium reduction for 2002 would result in an average annual premium of […]
June 30, 2001
Dear Editor, Many years ago I wrote a letter to the editor asking “where is the voice of surety in Canada, I cannot hear it?”. Not too long thereafter The Surety Association of Canada was formed primarily by the bonding companies in Canada but with associate memberships to include all practitioners of the surety industry. […]
4 min read
The Toronto Insurance Women’s Association executive for 2001-2002 was recently elected at the TIWA annual general meeting. Pictured are: (back from left) Robin Darby, Lori Duclos, Dalia Sabour, Cheryl Morton, Monica Branker, Karen Akeson, Doreen Brown, (front) Gail Cuffe, Michelle Roberts (president), Kelly Brisbin-Harris, Pauline Ferguson. The Toa Reinsurance Company of America is moving house, […]
In a time when insurers are cutting costs, including those associated with claims handling, it is difficult to say any adjuster is "flying high". But Keith Edwards is one exception. Not only will he take over as president of the Canadian Independent Adjusters Association (CIAA) this year, but the licensed pilot also has high hopes for his profession. Edwards says this time of "belt tightening" is an opportunity for independents to prove their efficiency and expertise.
6 min read
The Canadian property and casualty insurance industry achieved a dismal 3.8% return on equity for the last four consecutive quarters through to the end of March 2001, according to the latest preliminary financial figures released by the Insurance Bureau of Canada (IBC). The industry’s taxed income for the first quarter of this year fell by […]
2 min read
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
