Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Applied Systems to Open Canada Data Center
Apr 10 2012 // Insurance software company Applied Systems announced plans to open a Canadian data center in the third quarter of 2012, in order to provide “additional data storage for the growing number of insurance brokers who...
Melting Arctic May Redraw Global Geopolitical Map
Apr 3 2012 // This year’s frenzy of oil and gas exploration in newly accessible Arctic waters could be the harbinger of even starker changes to come. If, as many scientists predict, currently inaccessible sea lanes across the top...
Ratings Recap – Notes, Pref. Shares: Swiss Re, Fairfax, AXIS, Munich Re
Mar 22 2012 // A.M. Best Co. has assigned a debt rating of “a+” to the recently issued CHF 320 million [$350 million] 7.25 percent perpetual subordinated notes with a stock settlement issued by Swiss Reinsurance Company Ltd.,...
A. J. Gallagher Acquires Canadian Broker BenefitLink Resource Group
Mar 19 2012 // Arthur J. Gallagher & Co. announced the acquisition of BenefitLink Resource Group, Inc., in Calgary, Canada. Terms of the transaction were not disclosed. The bulletin said BenefitLink was established in 2001, as an...
Best Affirms RSA Canada, Subs and Holding Company Ratings
Mar 13 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Royal & Sun Alliance Insurance Company of Canada (RSA Canada) and...
$27.2 Billion Lawsuit Against Big Tobacco Starts in Montreal
Mar 12 2012 // Canada’s three biggest tobacco companies, all with multinational parents, face C$27 billion (US$27.20 billion) in damages and penalties as the largest civil lawsuit in the country’s history gets underway on...
Best Affirms RSA and Operating Subsidiaries Ratings; Outlook Stable
Feb 23 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the main UK operating subsidiaries of the...
Business Moves
Feb 6 2012 // Arthur J. Gallagher, Riley Arthur J. Gallagher & Co. said it has acquired Riley & Associates Inc. in Mt. Pleasant, South Carolina. Terms of the transaction were not disclosed. Riley & Associates Inc. is a...
Kaufman Financial Acquires London’s Chesterfield Group, Texas MGA
Jan 27 2012 // The H.W. Kaufman Financial Group, parent company of wholesale broker and underwriting manager Burns & Wilcox, has purchased Chesterfield Group Ltd., a London-based insurance broker and underwriting organization with...
New Global Risks Create Need for Expanded Directors & Officers Liability Program
Jan 23 2012 // The risk of lawsuits against senior executives has long been a major concern for businesses in the United States. But in the last few years it has become a much more serious global exposure as well. The international legal...
November Storms in Southern Alberta Caused $195 Million Insured Loss
Dec 29 2011 // Windstorms that hit southern Alberta in November have caused at least C$200 million [US$195] in insured damage, according to the Insurance Bureau of Canada. However, the estimate is preliminary, based on data from Property...
Ratings Recap: Aviva Canada, IRB-Brasil
Dec 16 2011 // A.M. Best Co. has placed under review with negative implications the financial strength rating (FSR) of ‘A ‘(Excellent) and issuer credit ratings (ICR) of “a+” of Aviva Insurance Company of Canada...
S&P Sees ‘Highs and Lows’ for Canadian P/C Insurers
Dec 13 2011 // As 2011 winds down, Canadian property and casualty (P&C) insurers can “list some notable lows and highs during the year, including unusually large catastrophe losses from wildfires in Slave Lake, Alta., and...
Canada Pulls Out of Kyoto Climate Change Protocol; First Country To Do So
Dec 13 2011 // On Monday Canada became the first country to announce it would withdraw from the Kyoto protocol on climate change, dealing a symbolic blow to the already troubled global treaty. Environment Minister Peter Kent broke the...
Willis Re Canada Appoints Bradshaw as Board Chairman
Nov 23 2011 // Willis Re Canada marked the completion of its first full year of operations in the country with the announcement of the appointment of Jim Bradshaw as Chairman of the Willis Re Canada Board. He is also the CEO of Willis Re...
Manulife Expands Asian Reach with Cambodia Unit
Nov 16 2011 // Manulife Financial said it has received approval to establish operations in Cambodia, which will expand the Canadian insurer’s reach into an 11th Asian market. Manulife said in a statement it had “approval in...
RSA Makes Changes to Operational Structure, Executive Team
Nov 14 2011 // UK-based RSA has announced announces a number of changes to the Group’s operating structure and Executive Team. As of January first the group will be reorganized into four regions: UK & Western Europe;...
Auto Insurers Keep Eye on Cross-Border Claims with Canada
Nov 7 2011 // Staged automobile accidents in Canada’s most populated province of Ontario pose a unique problem for American auto insurers that must deal with Ontario’s stringent no-fault benefits. Some U.S.-based adjusters...
3M Powerless as October Snow Surprises Northeast
Oct 31 2011 // A freak October snowstorm knocked out power Sunday to more than 3.1 million homes and businesses across the U.S. Northeast, with close to two feet (60 centimeters) of snow falling in some areas over the weekend. The storm...
RIM Hit with Consumer Lawsuits over BlackBerry Outage
Oct 27 2011 // Consumers in the United States and Canada have sued Research in Motion for a days-long service outage on BlackBerry devices that rippled across the world earlier this month. The system-wide failure of the service had left...
