Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
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...
Best Issues Ratings Announcements on Fairfax Subsidiaries
Feb 11 2011 // A.M. Best has issued a series of ratings announcements relating to Canada’s Fairfax Financial Holdings and its subsidiaries. The bulletins are as follows: A.M. Best Co. has removed from under review with negative...
Ratings Recap: Everest Re (Canada), Cologne Re (Ireland), Gulf Insurance
Feb 2 2011 // A.M. Best Co. has assigned a financial strength rating of ‘A+’ (Superior) and an issuer credit rating of “aa-” to Everest Insurance Company of Canada (EvCan), both with stable outlooks. Best noted...
Best Upgrades Unifund Assurance Rating; Affirms Ratings of RSA Canada Members
Jan 20 2011 // A.M. Best Co. has upgraded the issuer credit rating (ICR) to “bb+” from “bb” and affirmed the financial strength rating (FSR) of ‘B’ (Fair) of Unifund Assurance Company, which is based...
Hub Acquires Assets of Canadian Broker Grande Prairie
Jan 11 2011 // Hub Acquires Assets of Canadian Broker Phoenix Grande Prairie Group Hub International Limited announced that it has acquired the assets of Phoenix Insurance Group Grande Prairie Inc., headquartered in the Canadian Province...
Canadian Climate Study Forecasts ‘Global Warming for Centuries’
Jan 10 2011 // Carbon dioxide already emitted into the atmosphere will keep contributing to global warming for centuries, eventually causing a huge Antarctic ice sheet to collapse and lift sea levels, Canadian scientists said...
Honda Civics Top List of Canada’s 10 Most Stolen Cars
Dec 20 2010 // The Insurance Bureau of Canada (IBC) recently released its annual list of the most frequently stolen vehicles, as follows: 1. 2000 Honda Civic SiR 2-door 2. 1999 Honda Civic SiR 2-door 3. 2002 Cadillac Escalade 4-door...
Group Says Canadian Firm Unprepared for Spill Response in Midwest
Dec 1 2010 // A lack of equipment and personnel has left TransCanada unprepared to deal with a major spill of crude oil on its Keystone pipeline system, according to a report by a nonprofit environmental group. The 60-page report from...
Canada Revenue Agency Confirms Barbados Insurers Exempt Status
Nov 29 2010 // The Canada Revenue Authority (CRA) confirmed that Barbados insurance companies including Exempt Insurance Companies (EIC) and Qualifying Insurance Companies (QIC) are “liable to tax” under paragraph IV (1) of...
Best Affirms Assurant and Subsidiaries Ratings; Outlook Stable
Nov 22 2010 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the property/casualty and life/health insurance subsidiaries of Assurant, Inc. Best also affirmed the ICR of...
Canada, China Reach Agreement on Insurance Investment
Nov 12 2010 // China’s insurance regulator has cleared the way to let the country’s insurers invest billions of capital in Canadian financial markets, the Canadian government said on Friday. The move, the latest sign of...
Canadian Insurers’ Earnings Results Seen Stronger, but ‘Messy’
Nov 2 2010 // Low interest rates and write downs are expected to lead to another messy quarter for Canada’s insurers, but recent stock market strength means the profit picture should be brighter than last quarter’s weak...
Sources Say Allianz and Partners Plan UK Fast-rail Bid
Oct 29 2010 // German insurer Allianz has tapped Britain’s largest private pension fund and one that invests the pensions of Canada’s Mounties to make a joint bid for Britain’s sole high-speed railway, sources...
Canada’s Sun Life Selling Reinsurance Unit to Berkshire Hathaway
Oct 27 2010 // Canadian insurer Sun Life Financial Inc. said Wednesday it would sell its reinsurance business to Warren Buffett’s Berkshire Hathaway after months of looking for a buyer for the profitable unit. Sun Life did not...
