Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Canada’s Fairfax to Buy American Safety in $306 Million Cash Deal
Jun 3 2013 // Fairfax Financial Holdings Ltd., a Canadian insurer, agreed to buy American Safety Insurance Holdings Ltd. for $306 million in an all-cash deal that will bring $480 million of investable assets. American Safety...
Temporary Fix Set For Crumpled I-5 Bridge In Washington
May 28 2013 // Washington state plans to install within weeks a temporary fix for an interstate highway bridge that crumpled after being hit by a truck, tossing cars and people into a chilly river but causing only minor injuries. Gov....
S&P Applies Revised Insurance Criteria to 22 Reinsurers and Subs
May 24 2013 // Standard & Poor’s Ratings Services announced that it has reviewed its ratings on 22 large global reinsurance groups by applying its new ratings criteria for insurers, which were published on May 7, 2013. (See...
EU Considering Action; Pope Comments after Bangladesh Building Disaster
May 2 2013 // The European Union is considering trade action against Bangladesh, which has preferential access to EU markets for its garments, to pressure Dhaka to improve safety standards after a building collapse killed more than 400...
Ratings Recap: PVI Re, L’Union Canadienne, UK War Risks Club
Apr 12 2013 // A.M. Best Asia-Pacific Limited has revised the outlook to positive from stable and affirmed the financial strength rating of ‘B+’ (Good) and issuer credit rating of “bbb-” of Vietnam’s PVI...
Best Affirms Aegon’s U.S. and Canadian Subs Ratings; Outlook Stable
Apr 10 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the U.S. life/health subsidiaries of the Netherlands Aegon N.V....
Arkansas Opens Probe into Exxon Oil Spill
Apr 2 2013 // Arkansas on Tuesday launched an investigation into an Exxon Mobil pipeline rupture that spilled thousands of barrels of crude oil into a housing development last week, just as forecast rain was expected to complicate the...
Ironshore Canada Increases Capacity for Specialty Casualty Lines
Mar 20 2013 // Ironshore Canada Ltd., a subsidiary of Ironshore International, has increased capacity to $30 million for its specialty casualty lines for 2013. Ironshore Canada Specialty Casualty division offers coverages to protect a...
RSA Posts $1.047 Billion 2012 Operating Profit; 5% Premium Growth
Feb 20 2013 // The UK’s RSA posted a solid operating profit of £684 million [$1.047 billion], compared to £727 million [$1.113 billion in 2011; while registering a five percent increase in net written premiums to £8.353 billion...
More Survivors Join Suit in Deadly Oregon Bus Crash
Jan 18 2013 // The legal problems are piling up for the Canadian tour company whose bus crashed on an icy highway in Eastern Oregon last month, killing nine passengers and injuring almost 40. An attorney who filed a lawsuit in Tacoma,...
Canadian Private Equity Firm Onex Completes USI Acquisition
Dec 27 2012 // Canadian private equity firm Onex Corp. said today it has completed its previously announced acquisition of USI Insurance Services from Goldman Sachs Group’s GS Capital Partners for approximately $2.3 billion. The...
W. R. Berkley Names Steen President of Berkley Canada
Dec 19 2012 // W. R. Berkley Corporation announced that Andrew Steen has been named president of Berkley Canada, effective January 7, 2013. The bulletin noted that Steen “has more than 20 years of experience in the property...
From Ashes of Penn. Estate Rises a Lawsuit for $20M Insurance Proceeds
Dec 4 2012 // The 53-page document reads more like a screenplay than a lawsuit. If Jerald Batoff’s claim is true, that’s how it may end up. More than seven months after his historic Main Line home, a 24,000-square-foot...
Willis North America to Acquire Canadian Benefits Broker Avalon Actuarial
Nov 30 2012 // Willis North America, a unit of Willis Group Holdings, announced that it has entered into a definitive agreement to acquire the assets of Avalon Actuarial Inc., a Canadian employee benefits brokerage and actuarial...
Onex Corp. of Canada to Acquire USI for $2.3 Billion
Nov 26 2012 // Canadian private equity firm Onex Corp. said today it has agreed to acquire insurance brokerage USI from Goldman Sachs Group’s GS Capital Partners private equity fund in a transaction valued at $2.3 billion. The deal...
Hub International Acquires Canada Broker Huestis Commercial Insurance
Nov 6 2012 // Chicago-based Hub International Limited announced that it has acquired the shares of Huestis Commercial Insurance Ltd. (HCIL), a Saint John, New Brunswick, Canada-based insurance brokerage firm. Terms of the acquisition...
2-Story Waves on Great Lakes Halt Cargo Shipping
Nov 1 2012 // Cargo shipping was at a standstill on Oct. 30 on the Great Lakes as superstorm Sandy churned waves up to two stories high, forcing crews to take refuge in bays and harbors and raising concerns about an economic blow if the...
Canada’s Manulife Says Reinsurace Exposure to Hurricane Sandy ‘Manageable’
Oct 31 2012 // Toronto-based Manulife Financial, one of North America’s largest insurers, said its exposure to Hurricane Sandy was manageable and within its risk tolerance. The company, based in Toronto, is primarily a life...
Hawaii Tsunami Smaller Than Feared; Ports Reopened
Oct 29 2012 // Officials in Hawaii reopened the state’s ports on Sunday and canceled a tsunami advisory as fears receded that there would be damaging waves from a powerful earthquake off the coast of Canada. The Pacific Tsunami...
CNA Canada to Use CargoNet, NER to Combat Cargo Theft
Oct 5 2012 // CNA, a global business insurer, is now using CargoNet and the National Equipment Register (NER) — two national information sharing systems designed to help policyholders combat the growing problems of cargo and heavy...
