Industry
After 34 years with Lindsey Morden, CEO Kenneth Polley has announced his intention to retire from that position. Polley will remain as chairman, while Francis Chou, a director of the corporation and vice president of Fairfax Financial Holdings will act as interim CEO. Queensway Financial Holdings Limited has announced the resignation of director Keith Henry. […]
March 31, 2001
2 min read
Queensway Financial Holdings Ltd. (TSE: QFH) has entered into an agreement to sell its U.S. subsidiaries North Pointe Financial Services Inc. and Hermitage Insurance Co. to the Argonaut Group Inc. for US$36.5 million. The troubled specialty insurer, which operates in both Canada and the U.S., is also considering the disposal of its remaining U.S. interests […]
1 min read
Another U.S.-based property and casualty insurer has decided to pack bags and depart the lackluster Canadian personal lines market. Kemper Canada was recently acquired by the Royal & SunAlliance Co. of Canada for an undisclosed amount. The change in ownership is not expected to result in any significant staff changes, both companies say in a […]
Winnipeg-based The Boyd Group Inc. (TSE: BYD.A) has acquired Atlanta, U.S.-based Car-Tech Holdings Inc. for an undisclosed amount. The deal will require Boyd issuing 264,286 Class-A shares valued at around $1.4 million as part payment for the acquisition. The Car-Tech deal involves four “high-volume” repair facilities located in metro Atlanta, Georgia. As part of the […]
The Canadian property and casualty insurance industry disclosed a $130 million taxed loss for the final quarter of last year, the first quarterly loss in almost 18 years, observes Paul Kovacs, chief economist of the Insurance Bureau of Canada (IBC). The IBC’s preliminary financial figures for 2000 (based on reports of over 90% of companies) […]
It is with deepest regrets that CU announces the passing of Fred Funston, on January 11, 2001, following a brief illness. Fred, a veteran of World War II, was long-time general manager of the Canadian Federation of Insurance Agents and Brokers (now the Insurance Brokers Association of Canada) and a frequent contributor to this magazine. […]
February 28, 2001
What do legendary rockers Aerosmith, boy band *Nsync and the Insurance Brokers Association of Canada have in common? All three were featured in the half-time show of this year’s SuperBowl game. It was a touchdown of sorts for the national association, which had been rethinking its national campaign. It was also a fast start for […]
6 min read
The Internet has enabled service industries to transact business at greater speeds and across more territory than ever before. And yet, web-based technology remains largely under utilized by most property and casualty insurers and the independent broker network. The primary focus has been at the call center level, or using the Internet as a hi-tech […]
5 min read
As the world of insurance moves online, new laws are being established to validate online transactions, as well as protect consumer interests. Electronic signature and privacy legislation being enacted at both the federal and provincial levels will challenge the industry to tackle this new form of commerce with care. Speakers at the recent Canadian Institute […]
7 min read
Rising expense ratios, soft market conditions, consolidation. Just when the insurance industry thinks it has weathered the stormy climate of the last decade, a new millennium brings the uncertainty of technological advancement. Companies eager to reduce costs may be prepared to make the mammoth investments required to take advantage of the latest high-tech offerings. But […]
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