Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
XL Names 6 to North America Construction Team
Aug 17 2011 // XL Insurance has made six key appointments to its North America Construction team that it established a year ago. The latest additions to XL Insurance’s North America Construction team include: Lawrence Lejfer...
Canada’s Top Court to Rule on Tobacco Liability
Jul 29 2011 // Canada’s Supreme Court will decide Friday whether the federal government should be partly liable for damages, possibly amounting to many billions of dollars, stemming from lawsuits against tobacco firms. The tobacco...
Canada’s Reformed Class Action Law Wins Few Friends
Jul 20 2011 // A Canadian law designed to make it easier to bring class action suits against companies that mislead investors has all sides frustrated as it faces its first real-world tests. Changes to the Ontario Securities Act that...
Ratings Recap: Kuwait Re, Optimum, Montana Re (cat bonds)
Jul 18 2011 // A.M. Best Europe – Rating Services Limited has revised the outlook to negative from stable and affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of...
Allianz Global Corporate & Specialty Confirms New London, U.S. Execs
Jul 12 2011 // Allianz Global Corporate & Specialty (AGCS) has confirmed new CEOs from within its existing management team for two of its most important regions. As of October first, Carsten Scheffel, currently CEO of AGCS for the...
Ratings Recap: United, Aviva Canada, Jupiter
Jul 6 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Barbados-based United Insurance Company Limited, both with stable outlooks. Best said...
Eqecat Set to Release 3 Revised Catastrophe Models
Jun 29 2011 // Catastrophe risk modeler Eqecat has scheduled July 15 as the date to release three significant revisions to its Worldcatenterprise 3.16 platform. The updates cover Eqecat’s North Atlantic hurricane model, its Canada...
Canada, Other Countries Block Asbestos from UN Hazardous List
Jun 24 2011 // Chrysotile asbestos will not be listed as a hazardous industrial chemical that can be banned from import after countries including Canada and Ukraine blocked consensus, a United Nations spokesman said on Friday. The...
Insurers Meet in Canada on United Nations Sustainability Principles
Jun 13 2011 // Canada is this week hosting the third of seven United Nations conferences to develop a set of sustainability principles for the insurance industry. Insurance industry CEOs and other senior executives from Bermuda, Canada...
Best Places AXA Canada, Intact Financial Ratings under Review
Jun 7 2011 // A.M. Best announced a number of rating actions as a result of the announcement on May 31 that that Intact Financial Corporation (IFC) has signed a definitive agreement to purchase 100 percent of the stock of AXA Canada...
Intact Financial to Acquire AXA’s Canada Operations for $2.684 Billion
Jun 1 2011 // Intact Financial Corp has agreed to buy the Canadian arm of AXA Group for C$2.6 billion ($2.684 billion) in cash in a move that will boost its premiums by more than 40 percent and diversify its product mix. The deal to...
Study Forecasts Ice Melt Will Close off Arctic’s Interior Riches
May 31 2011 // Global warming will likely open up coastal areas in the Arctic to development but close vast regions of the northern interior to forestry and mining by mid-century as ice and frozen soil under temporary winter roads melt,...
Best Affirms Travelers and Subsidiaries Ratings
May 27 2011 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of Travelers Group and its property/casualty members, and affiliates,...
Hagerty Marine Announces Broker Program in Canada
Apr 18 2011 // Hagerty Classic Marine has created a broker referral program for its Canadian product. This move will allow brokers in Canada to refer collector boat insurance clients and receive commission for new and renewal business....
Report Tallies Economic Costs of Violence to States
Apr 6 2011 // States with the most violence are spending billions of dollars on medical care and prisons and recording lower productivity than more peaceful states, according to a new study on the effects of peace and violence on the...
Shake-Up at AIG’s Chartis; Moor Out, Hancock In as CEO
Mar 31 2011 // American International Group, Inc. (AIG) today announced a reorganization of Chartis, its global property/casualty business, and named a new management team, including a new chief executive officer, Peter D. Hancock,...
Ironshore Canada Launches Specialty Casualty Division
Mar 28 2011 // Ironshore Canada Ltd. created a specialty casualty division to underwrite insurance coverages for general liability, as well as umbrella and excess liability programs. Stephen Stewart has been named vice president to head...
Canada’s Manulife Says Japan Exposure ‘Less than $153 Million’
Mar 16 2011 // Manulife Financial said Monday the impact of the earthquake and tsunami in Japan should be less than C$150 million (US$152.93 million), after investors sold the shares off by 3.5 percent on concerns about the...
Suspected Colombian Rebels Kidnap 23 Local Oil Workers
Mar 8 2011 // Suspected FARC guerrillas have captured 23 Colombian oil contractors carrying out exploration work for Canada’s Talisman Energy in a rare mass kidnapping, authorities said Monday. Colombia, Latin America’s No....
Ratings Recap: Westaim/Jevco, GCAN, Euro Arab
Feb 11 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘B++’ (Good) and issuer credit rating (ICR) of “bbb” of Jevco Insurance Company, which is based in Quebec. At the same time Best affirmed...
