Risk
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
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
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
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
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, […]
By Canadian Underwriter | October 31, 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 […]
By Canadian Underwriter | October 30, 2017
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
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, […]
By Canadian Underwriter | October 20, 2017
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 […]
By Canadian Underwriter | October 17, 2017
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 […]
By Angela Stelmakowich | October 13, 2017
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