OTTAWA – One year after the Bank of Canada’s aggressive rate hike cycle began, economists widely expect the central bank will stick to its plan of holding its key interest rate steady at its next scheduled announcement. In making its rate decision next week, the central bank likely feels assured about its move to pause […]
By Jason Contant | March 3, 2023
4 min read
Common Threats to the Supply Chain The past few years have felt like a lesson in supply chain fragility. We’ve seen how everything from minor inconveniences to significant disruptions can send the supply chain spiraling, causing product shortages, port congestion, imbalances in supply and demand, price hikes, and more. Because supply chain interruptions can have […]
March 1, 2023
3 min read
Munich Re is aiming for a profit of 4 billion euros (Cdn$5.8 billion) in 2023. The global reinsurer posted a profit of 3.4 billion euros (approximately Cdn$4.9 billion) in 2022. Its gross premiums written amount to 67 million euros (Cdn$96.5 million) — an increase 12.7% year over year (up from 59 billion euros in 2021). […]
By Alyssa DiSabatino | February 27, 2023
2 min read
Jolee Crosby has been appointed president and CEO of Swiss Re Canada & English Caribbean and will succeed Monica Ningen, who has been named CEO of U.S. P&C Reinsurance at Swiss Re. Both roles are effective July 1. Crosby joined Swiss Re in 1998 and has 25 years of experience in the (re)insurance industry. […]
By Alyssa DiSabatino | February 21, 2023
1 min read
EDMONTON – Police in Edmonton say five men face charges in an auto theft ring where high-end trucks and SUVs were allegedly stolen for export overseas. Investigators began looking into a series of 14 auto thefts in late November of Dodge Ram TRX pickup trucks, Durangos and Jeeps valued at close to $1,680,000. Police say […]
By Jason Contant | February 14, 2023
1 min read
A proposal to ban tobogganing at all but two municipal parks in a city east of Toronto was voted down after a lengthy council debate and a wave of public pushback. City staff in Oshawa, Ont., will instead look to remove hazards where possible and use existing bylaw powers to post signs banning sleds on […]
By Jason Contant | February 6, 2023
3 min read
TORONTO – DesRosiers Automotive Consultants Inc. (DAC) says light vehicle sales in Canada in January were up 7.5 per cent compared with the first month of 2022. The automotive industry research firm estimates 98,259 new light vehicles were sold by reporting manufacturers in January. The result compared with 91,411 in January 2022. DAC says it […]
By Jason Contant | February 2, 2023
1 min read
EDMONTON – Alberta’s New Democrat Opposition says a government review of the program that’s supposed to ensure oilsands companies can clean up their mines was conducted too privately and should have been done in public. Environment critic Marlin Schmidt said Albertans now know even less than before the review of the Mine Financial Security […]
By Jason Contant | January 30, 2023
3 min read
OTTAWA – The Bank of Canada raised its key interest rate by a quarter of a percentage point Wednesday and said it expects this to be the last rate hike of the cycle. The rate increase marks the eighth consecutive hike since March as the central bank fights off decades-high inflation. Its key interest rate […]
By Jason Contant | January 25, 2023
4 min read
Canada’s property and casualty insurers should see increased overall profitability and premium rate increases as the industry’s 2023 outlook trends to positive, ratings firm DBRS Morningstar said in a new report. “The credit rating trend for the majority of DBRS Morningstar-rated Canadian property and casualty (P&C) insurers is positive, in contrast to historically stable trends,” […]
By Jason Contant | January 23, 2023
3 min read