Industry
PMSC Ltd. has appointed Patrick Vice to the position of director of sales. Vice brings to the position over 18 years of experience in the insurance industry. David Wilmot has been named senior vice president and manager of Toa-Re Insurance Company of America and will serve as chief agent for the company’s new Canadian branch. […]
February 28, 1999
1 min read
There are few leaders in the Canadian property and casualty insurance industry applying an optimistic view of business and earnings growth in 1999. In fact, premium growth across the lines is unlikely to exceed the country’s expansion of gross domestic product (GDP) for the year with the industry’s average combined ratio rising to neutralize any […]
By Sean van Zyl, Editor | February 28, 1999
4 min read
The fair-weather profit years which the property and casualty insurance industry has enjoyed since the mid-1990s is likely to run into a storm in 1999 with companies generating single digit returns on equity (ROE). Projections based on third-quarter StatsCan data suggests that the p&c industry achieved a modest 3% growth in premium income for 1998, […]
By Ted Belton, director of research at RBC Underwriting Management | February 28, 1999
3 min read
Zurich Canada has announced the acquisition of World Travel Protection (WTP), a Canadian travel insurance assistance and administration company. WTP offers travel insurance administration, case management and health information services to large institutions in the affinity and employee group markets. Prior to the acquisition, Zurich Canada held a 50% equity interest in WTP. Full ownership […]
Dominion of Canada General Insurance has joined the growing rank of insurance companies offering broker call centre services. In the spring of this year Dominion will launch Chieftain Insurance in the Alberta and Ontario personal lines markets. Dominion president George Cooke says Chieftain will initially offer a personal auto and property product sold through an […]
2 min read
Hambro Insurance Services Group (HIS), a recently acquired subsidiary of Lindsey Morden Group Inc., has sold its 33% interest in Oracle Service Network Corporation — a provider of roadside and other assistance services in the U.S. and Canada — to Tampa-based Sykes Enterprises for 486,892 Sykes common shares. Sykes, an outsourcing consultant firm specializing in […]
News
Vector Intermediaries Inc. (ASE: VTE) has entered into an agreement to sell its British Columbia operations. Regional vice president of Western Canada Rich Commerford has agreed to purchase Burnaby-based Charlton Insurance Agencies Ltd. as well as Macnaughton & Ward in Surrey and Langley, transactions that are a part of Vector’s continuing restructuring efforts and to […]
The ramifications of the millennium bug are already hitting insurers, says Crawford Adjusters Canada vice president Glenn Gibson, who recently addressed a capacity crowd at the SCOR Canada/Lang Michener Claims Symposium in Toronto. Already in the U.S. – where the bulk of Y2K litigation is currently taking place — over 200 lawsuits have been settled […]
Private passenger auto insurance rates in Ontario decreased during the fourth quarter of 1998 according to the latest rate information published by the Financial Services Commission of Ontario (FSCO). This is the 10th successive quarterly decrease since 1996. Of the 22 rate filings that were approved, 21 dealt with rate changes. The individual rate changes […]
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