Operations
Dear Editor, I have just finished reading/scanning another edition of CU received at our office and left for those of us brokers interested enough to pick it up and read. (I could go on at length about how uninterested and demoralized the brokers in my neck of the woods have become over the past 2 […]
October 31, 2003
1 min read
Broker consolidator Hub International Ltd. is the latest to withdraw from talks to buy the brokerage operations troubled Near North National Group.Chicago-based Near North has been trying to sell its assets as the company and its former CEO, Michael Segal, face indictment for federal fraud charges in the U.S. Chicago-based private equity firm Frontenac Co. […]
By Canadian Underwriter | August 15, 2003
Broker network consolidator Hub International Ltd. (TSX: HBG) increased second quarter revenue by 29% year-on-year to US$74.1 million, while net earnings fell to US$10.1 million for the same period compared with the US$10.7 million reported at the end of June 2002. The modest decline in earnings, which equates to 31c a share on a diluted […]
By Canadian Underwriter | August 4, 2003
2 min read
In the February 2003 issue of Canadian Underwriter magazine, the article “Illusion or Reality?” comments attributed to me may have given some readers the impression that the electronic on-line solution mentioned is a proprietary system of Wawanesa Insurance, which it is not. The system I referred to is IntelliQuote, a complete SEMCI solution which has […]
May 31, 2003
The sale of Vector Insurance Network (Ontario) Ltd. by broker consolidator group Vector Intermediaries Inc. (TSX: VTE) will not go through as previously announced, the company says. Vector signed a letter of intent in December of last year to sell the Ontario operations to the Huestis Group for $4.6 million. Vector says the sale was […]
March 31, 2003
Pictured at top right, Gordon Crutcher of Sutton Reinsurance accepts the Award of Merit at the annual Convocation and Awards Dinner of the Insurance Institute of Ontario (IIO). An FCIP graduate and past president of the IIC (Canada), Crutcher was proud to call the institutes the premier educational body. Also receiving multiple awards, at bottom […]
In a study by U.S.-based technology firm CCC Information Services Inc., the 1998 Toyota Camry topped the theft list last year for the fourth time in the last five years. Falling second is the 1991 Camry, 2001’s top theft target.Imports dominated the list, including Toyota and Honda models making up 20 of the top 25 […]
By Canadian Underwriter | March 20, 2003
The new ombudservice for p&c insurers received 37,000 calls between July and December of last year. Fortuntaly for insurers, only 17 of those calls have proceeded to mediation, reports the General Insurance Ombudservice (GIO).The GIO was created last year, and started operation in July, as a national service to field consumer complaints and questions regarding […]
By Canadian Underwriter | February 25, 2003
The Co-operators Group has named Kevin Daniel its new senior vice president, finance, and CFO. Daniel has been with The Co-operators for 16 years in a variety of roles and succeeds Peter Crawford, who retires in April after more than 15 years in the position. The Insurance Brokers Association of Canada (IBAC) has appointed Dan […]
January 31, 2003
Broker consolidator Hub International Ltd (TSX, NYSE: HBG) has acquired Cincinnati-based Fifth Third Insurance Services Inc. from Fifth Third Bancorp, creating a midwest “hub”.Hub paid $37 million cash for the agency, which has annual revenue of US$25 million from its p&c and employee benefits business. Fifth Third’s life and title insurance business has been acquired […]
By Canadian Underwriter | January 2, 2003
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