Industry
The snowstorm which almost buried Toronto for the first two weeks of the new year is expected to cost insurers roughly $50 million, the Insurance Bureau of Canada (IBC) estimates. Around 115cm of snow fell on Toronto with heavy accumulations in other areas of southwestern Ontario in what was the first major storm of 1999. […]
February 28, 1999
2 min read
The Hub Group Ltd., a broker consolidator, has gone public listing on the Toronto Stock Exchange as HBG. The initial public offering, underwritten by CIBC Wood Gundy Securities, distributed $11.7 million Hub common shares to the public at an opening price of $13.50. At press-time, HBG was trading at $17.55. Financial holding company Fairfax Financial, […]
1 min read
Risk
Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Insurance Bureau of Canada: Financial Affairs Symposium. Contact Tracy Waddington at 416-362-2031 ext. 352. Sheraton Centre, Toronto, ON. Mar. […]
Royal & SunAlliance Insurance Company of Canada has struck a strategic alliance with the Toronto-based broker network, CG&B Group. “We believe that in order for the CG&B Group to maintain our position as a profitable, growing and innovative firm we must expand through acquisitions,” says Rod Finlayson, CG&B senior vice president. “The investment will allow […]
ING Canada, through its Calgary-based subsidiary Western Union Insurance, has entered into a strategic alliance with B.C.-based BCAA. Under the agreement, ING will purchase BCAA’s subsidiary, BCAA Insurance Corporation, for undisclosed terms. BCAA will continue to sell home and auto insurance products through its 23-centre provincial-wide network with Western Union serving as the underwriter. The […]
January 31, 1999
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Premiums generated by call centres in Canada have risen by 96% since 1994, says Ted Belton who addressed the Strategy Institute Call Centre Conference recently. Belton notes the more traditional distribution methods generated premiums at a lower 20% growth rate for the same period. Belton, author of quarterly The Belton Report, predicts companies and brokers […]
The U.S. property and casualty insurance industry posted US$23.2 billion in net taxed income for the first nine months of 1998, showing a 15% drop from the $27.4 billion made over the same period in 1997. The decline is attributed mainly to higher catastrophe losses, according to Insurance Services Office, Inc. (ISO) and the National […]
Announcements in Coming Events are run free of charge as a service to the industry. Items should be submitted by the first of the month prior to the month in which the announcement is to appear. Canadian Insurance Accountants Association: Seminar & Luncheon. Contact the CIAA at 905-274-2422. Toronto Hilton Hotel, Toronto, ON. Mar. 10. […]
The Professional Liability Underwriting Society (PLUS) recently held their international conference in Palm Springs, California, with over 2000 registrants in attendance. Founded in the U.S. in 1986 and having expanded into Canada in 1997, PLUS is a forum for individuals involved in the field of professional liability. Its mission mandate is to educate the industry […]
The Synchron initiative, once heralded as the industry’s ultimate electronic interface solution between companies and point of sale, collapsed last year. From its ashes have risen several alternative solutions, one of the most prominent being The Freedom Alliance, a strategic partnership between The Agency Manager, Compu-Quote and Cebra.However, other vendors and company-backed solutions are closing […]
9 min read
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