Industry
U.S.-based Allstate Corporation has acquired CNA’s personal lines business in a transaction valued at $1.2 billion. The deal calls for Allstate to pay CNA $140 million in cash for the business and company shell. Also, Allstate will utilize about $950 million of its capital to support the new premium volume and will pay a marketing […]
June 30, 1999
2 min read
Queensway Financial Holdings Inc. and St. Paul Companies released their first quarter earnings, with both showing results mirroring industry trends. Both companies followed the industry’s alarming trend of rising operating ratios. And while Queensway’s premium volume rose considerably — the result of 1998 acquisitions just now being added to the books, St. Paul Companies experienced […]
Promoting regional unity and getting out on the road to read member needs and concerns first hand are central issues of the Insurance Brokers Association of British Columbia’s strategic growth plan for the year ahead. Although brokers should remain competitive within their ranks, the time has come for the province’s brokerage community to stand together […]
May 31, 1999
5 min read
When the Financial Services Commission of Ontario (FSCO) introduced mandatory mediation of statutory accident benefits disputes, insurance companies quietly rejoiced. Essentially, the new rules preclude plaintiffs from launching an action at law prior to mediating issues in dispute which fall under Ontario Regulation 403 to Bill 59 such as benefits for medical and rehabilitation costs, […]
4 min read
Equisure Financial Network Inc. (TSE: EFN) released record first quarter figures, setting new highs in revenue, net income, earnings, shareholders equity, assets and EBITDA (earnings before interest, taxes, depreciation and amortization). The company’s consolidated revenue was up 3% from 1998’s $21.1 million to $21.6 million. Net income rose by 38% to $1.05 million from $762,000 […]
1 min read
Gore Mutual Insurance Company has appointed Kevin McNeil as president and chief executive officer. With 25 years of insurance, banking and industrial experience, McNeil has held senior positions in the insurance sector, including president of The Personal Insurance Company of Canada. HB Group Insurance Management Ltd. has announced a new management team and structure for […]
In most industries, the Internet has become an important business tool. Employees have access to endless possibilities for research, for improved communications internally and externally, and to work from home. Security in access and transferring information has, however, been the biggest concern of business in maximizing on the Internet’s full potential. Virtual Private Network (VPN) […]
3 min read
The Women in Insurance Cancer Crusade (WICC) held its annual fundraising dinner at Toronto’s Sheraton Centre March 31, raising $37,000 for cancer research. An estimated 340 industry members took part in the fundraiser, which was highlighted by an auction in which full tables bid for the opportunity to guess who the evening’s surprise guest was. […]
We couldn’t have picked a worse day for the opening of my company’s new regional office. Gale-force winds had blasted into the city overnight, knocking down trees and power-lines, shutting down the airport, and tearing the roofs off new, unfinished homes in the suburbs. They had also succeeded in lighting up the phones in our […]
9 min read
While the potential restructuring of financial institutions on the national scene is holding the attention of Alberta brokers, there are plenty of initiatives on the homefront to keep them busy. New Insurance Brokers Association of Alberta (IBAA) president Stephen Evanson says his organization is concentrating efforts on assisting the provincial government in rewriting its Insurance […]
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.
