Industry
In a deal valued at $139.5 million, CGU Canada Ltd. has purchased The GAN Company of Canada Ltd. from its French owner GAN International. GAN Canada is the 22nd largest property & casualty group in the country with net written premiums for 1998 of $195 million, amounting to just over 1% of the total market. […]
September 30, 1999
2 min read
Ontario's collision repair industry is undergoing fundamental change -- however, it is a change that spells good news for a besieged industry, insurers as well as a beleaguered consumer.
8 min read
Does the next millennium begin officially on January 1, 2000 or January 1, 2001? That debate is better left to the academics. What is certain is that January 1, 2000 is the date computers must recognize. It is also the date which could signal the beginning of the biggest litigation attack to hit North America. […]
6 min read
If anyone harbored doubts of the political clout capable of the independent broker movement in protecting its business turf, such a notion would have been soundly thrashed by the highly effective campaign wielded against the banks in the latest round of federal regulatory reform of financial services. The federal government’s white paper on financial services […]
4 min read
Canadian and U.S. property and casualty insurance results for the first half of 1999 show a marked decline in earnings, primarily due to weak investment returns and sluggish premium growth. Both the Canadian and U.S. industries witnessed a rise in loss ratios for the second quarter when compared with the figures for the same period […]
3 min read
Co-operators General Insurance Company has released its second quarter results showing a marked improvement in its operating ratio over last year’s figures. The combined ratio of claims and operating expenses dropped to 98.5% during the second quarter of 1999 compared to 103% during the same quarter in 1998. Gross written premiums in 1999’s second quarter […]
1 min read
Brian Johnston, the former president of Liberty Canada Holdings and Cigna Insurance Company of Canada, has launched a new low-cost general insurance company, Markham General Insurance Company. The operation is capitalized at $20 million. Financially backed by a group of 22 brokers and an U.S. private investment fund arranged by managers Dailey & Partners, the […]
Ken Orr, incoming president of the Insurance Brokers Association of Ontario (IBAO), believes brokers need to invest further in continuing professional development. Despite a successful launch of the IBAO’s “travelling education road show” in the past term, early returns suggest brokers across the country took fewer courses last year. First-year licensing enrollment, an indicator of […]
5 min read
A recent Competition Bureau decision favoring “insurer preferred bodyshops” has provided auto property and casualty insurance companies with much needed ammunition in a pending court battle with the City of Toronto to overrule a longstanding by-law prohibiting the establishment of insurer-backed repair shops. The use of preferred bodyshops has gained momentum across the provinces as […]
Is a new subsidiary, new product or policy form on the horizon for your company? If so, better be prepared for slippery target dates. Lengthy delays in licensing can occur when companies or their brokers develop new products which don’t fit into existing definitions, or when the anticipated volume of business is so low that […]
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