Risk

Navacord welcomes Toole Peet Insurance of Calgary as new broker partner

Navacord Inc. is welcoming its new broker partner, Calgary-based brokerage Toole Peet Insurance. The partnership expands Navacord’s connections “even further with entrepreneurial insurance brokers across Canada,” the insurance and risk management brokerage said in a press release on Nov. 3. Toole Peet’s president, Larry Toole, and managing director Colin Toole will continue to lead the […]

By Canadian Underwriter | November 9, 2017

2 min read

Risk

Canadian M&A ahead of last year as private equity, outbound deal activity increases through Q3: PwC Canada

The number of Canadian mergers and acquisitions (M&A) through the third quarter of this year increased to 1,879 from 1,522 during the same period in 2016, according to PwC Canada’s first Deals report, released on Monday. A PwC Canada spokesperson told Canadian Underwriter that the 23% increase from 1,522 deals to 1,879 deals includes deals […]

By Jason Contant | November 8, 2017

4 min read

Risk

Social media driving need to communicate quickly during crises: speaker

Failure to manage a crisis situation well can “become an existential threat, a real threat to the viability of the organization,” a speaker said on Thursday at the Canadian Risk and Insurance Education Forum. “When you look at it, the manner in which organizations handle situations is at least as important for their reputation as […]

By Jason Contant | November 3, 2017

4 min read

Risk

Reinsurance, commercial risk solutions revenue increases at Aon

Aon plc reported revenues in commercial risk solutions of $917 million in the three months ending Sept. 30, up 3.7% from $884 million during the same period in 2016, while net income dropped 42%. All figures are in United States dollars. London-based Aon reported Oct. 27 its third-quarter financial results. Total revenue was $2.34 billion, […]

By Canadian Underwriter | November 1, 2017

2 min read

Underlying revenue up 3% at Marsh

Marsh & McLennan Companies Inc. recently announced a 9% increase in revenue at its commercial brokerage subsidiary while total risk and insurance services revenue increased from $1.632 billion in the third quarter of 2016 to $1.752 billion in the three months ending Sept. 30, 2017. All figures are in United States dollars. In addition to Marsh, […]

2 min read

Chubb reports P&C combined ratio of 110.8% for third quarter of 2017

Chubb Limited has reported a P&C combined ratio of 110.8% for the third quarter of 2017, up 24.8 points from the same quarter last year and “driven by significant catastrophe losses.” “While it was a tough quarter for cats, it’s the business we’re in,” Evan G. Greenberg, chairman and chief executive officer of Chubb, said […]

4 min read

Firefighters at New Brunswick Gagetown military base continue to battle fires

FREDERICTON – Officials at Canada’s second-largest military base say forecasted heavy rain is welcome news as crews continue to battle three fires – efforts hampered by unexploded ammunition. The fires have been burning for weeks at New Brunswick’s Gagetown base in an area rife with the remnants of decades of soldier training. Stephanie Duchesne, a […]

By Jason Contant | October 24, 2017

2 min read

Continuing fast pace for insurance M&A in U.S., Canada: OPTIS

Sellers seem to be enthusiastically responding as buyers continue the aggressive valuations of p&c and employee benefits agencies, with OPTIS Partners reporting Thursday there were 132 deals inked during 2017 Q3, bringing the year-to-date total to 457. Chicago-based OPTIS Partners’ proprietary mergers and acquisitions (M&A) database covers U.S. and Canadian agencies selling primarily p&c insurance, […]

2 min read

Manitoba Public Insurance reports net income of $42.3 million

Manitoba Public Insurance has reported a net income of $42.3 million for the six months of its fiscal year ending Aug. 31, 2017 – an increase of $69.2 million over the same period last year. This amount includes net income from the Basic insurance line of business of $9.2 million in the first six months […]

2 min read

Integrating disaster risk, resilience into broader systems key to unlocking climate adaptation abilities

A systemic disconnect between material natural disaster risk, asset valuation and infrastructure investment demands that disaster risk and resilience be integrated into broader financial, accounting and reporting systems, David Greenall, senior director of sustainable business solutions for PwC Canada, told Canadian Underwriter Friday, the International Day for Disaster Reduction. “The inadequate pricing of disaster risk […]

4 min read