Industry
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 […]
September 30, 1999
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 […]
2 min read
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 […]
By Lowell Conn | September 30, 1999
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 […]
4 min read
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 […]
As we completed our tour of the brokerage’s renovated offices, Saul led me into a small boardroom on the second floor. Three men sitting around the table rose to their feet. “Dave,” he said with a smile, “meet my three partners: Ted who handles our personal lines business, Ian who looks after the life side […]
By Axiom | September 30, 1999
8 min read
Queensway Financial Holdings Ltd. (TSE: QFH), recently the subject of a management purge by new U.S.-based majority stakeholders, has released its second quarter figures posting a significant loss over last year’s figures. For the first six months of 1999, the company reports a net earnings loss of $27.1 million in contrast to a net earnings […]
In a new study released on insurance mergers & acquisitions and public equity offerings for the first half of 1999, Conning & Company reports an overall 71% decline in activity value and a 9% decrease in the volume of transactions when compared with that of the first six months of 1998. The value of merger […]
Data security consultants NCR Corporation recently held a meeting for Canada’s business leaders in the retail, financial, telecommunications, insurance and government sectors, entitled “Consumer Privacy: Good for Business”. The session examined how Canadian organizations can balance the global demand for data privacy and protection, with their marketing and customer service strategies. Panelists included Dr. Ann […]
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