Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
As Sewers Age, Canada’s Insurers See Mess of Claims
Aug 18 2008 // The Canadian insurance industry is seeking ways to stem a rising tide of claims for water damage to homes that it says results partly from aging sewer systems that badly need replacement. Some of its response involves...
‘Dramatic’ WTO Farm Deal Close If Talks ‘Can Be Revived’
Aug 14 2008 // A world trade deal that dramatically opens livestock markets in the European Union, Canada and Japan is within grasp, if talks that collapsed last month in Geneva can be revived. U.S. Trade Representative Susan Schwab...
RMS Launches Winter, Convective Storm Models for U.S., Canada
Aug 14 2008 // Newark, Calif.-based Risk Management Solutions (RMS) launched new Winterstorm and Severe Convective Storm Models to enhance its suite of catastrophe risk models for the U.S. and Canada. Built to satisfy the needs of both...
XL Expands Canada Aviation Team
Aug 13 2008 // XL Insurance, XL Capital’s global insurance operations, has expanded its specialty insurance product offerings in Canada with the appointment of a new aviation insurance team lead by Tony Trost. He joins XL...
Kingsway’s Q2 Net Income Rebounds from Q1 Loss to $6.3 Million
Aug 11 2008 // Kingsway Financial Services Inc. announced financial results (in U.S. dollars) for the second quarter ended June 30, 2008 that rebounded from a first quarter loss. The Company reported net income of $6.3 million or $0.11...
Exporting Exposures
Jul 7 2008 // As an important link in the global supply chain, exporters face many exposures Small and midsize U.S. companies are sharply increasing their exports, encouraged by falling trade barriers, a weakening dollar that makes...
S&P: Rising Claims, Competition Squeeze Canadian P/C Insurers
Jun 26 2008 // “Lack of premium growth nationwide and diminished results in the Ontario auto segment restrained results for Canadian property and casualty insurers in the past year,” according to a newly published report from...
Best Announces Rating Actions of 53 Canadian Insurers
Jun 23 2008 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of 30 Canadian P/C companies; upgraded seven FSRs and ICRs; upgraded seven ICRs (with no change to the FSRs); assigned four...
RBC Insurance Signs Agreement with Aon to Expand Business
Jun 11 2008 // Toronto-based RBC Insurance announced that it has signed an agreement with Aon Reed Stenhouse that makes Aon its “exclusive broker for competitive and comprehensive commercial property and casualty and trade credit...
Ratings: Wiener Staedtische, AXA (Canada), Max Capital, Tryggingamidstödin, Aveta, Ansvar, Norwegian Hull
Jun 11 2008 // Standard & Poor’s Ratings Services has affirmed its ‘A-‘ junior subordinated long-term debt rating on the €250 million ($387 million) undated, subordinated notes issued by Austria-based Wiener...
U.S. Court Approves Pet Food Maker’s $24 Million Lawsuit Fund
Jun 2 2008 // Menu Foods Income Fund said Friday that a U.S. court gave preliminary approval to a settlement agreement covering lawsuits in U.S. and Canadian courts. Menu Foods was was hit by more than 100 class action lawsuits last...
PartnerRe Makes Executive Changes in Global (Non-U.S.) Operations
Jun 2 2008 // Bermuda-based PartnerRe has announced the following executive changes in its Global (Non-U.S.) Operations: — Emmanuel Clarke has been named as Head of Specialty Lines, Global, effective Sept. 1, 2008. — He...
Ratings Roundup: Panther Re, Travelers (Canada), Montpelier Re
May 12 2008 // Standard & Poor’s Ratings Services has withdrawn its ‘BBB+’ counterparty credit rating on Panther Re Bermuda Ltd.’s senior secured Term A loan and its ‘BB+’ rating on Panther...
Argo Group Posts $36.9 Million Q1 Net Income; Conference Call Today, Details
May 6 2008 // The Bermuda-based Argo Group International Holdings, Ltd. (which includes the formerly Texas-based Argonaut Group) announced net income of $36.9 million for the first quarter of 2007, a 47 percent rise, while pretax...
Levee Protects Downtown But Flooding Still Severe in Fort Kent, Maine
May 2 2008 // The rain-swollen St. John River crested early Thursday, May 1, after hitting a record high, forcing residents in Fort Kent, Maine to flee to higher ground as more than 100 homes flooded. Rain and melting snow raised the...
Lowery Named to Head Lloyd’s North America
Apr 22 2008 // Lloyd’s announced the appointment of LoriAnn Lowery as its new President, North America. She will report directly to Director, Market Operations and North America Sue Langley, in London. Lowery “will be...
Canadian Researchers Warn of New Arctic Worries
Apr 4 2008 // Canada’s massive Mackenzie Delta is feeling the impact of climate change is faster than expected, which could signal problems elsewhere in the Arctic, a Canadian researcher said Thursday. Melting ocean ice is...
Canada Must Adapt to Climate Impact on Forests
Apr 2 2008 // Canada must prepare for the impact of global warming on its forests, such as increased fires in the west and ice storms in the east, the country’s forest ministers said Tuesday. Canada’s lumber and paper...
Menu Foods Reaches Deal to Settle Pet Food Suits
Apr 1 2008 // Menu Foods Income Fund said Tuesday that it had reached an agreement in principle to settle lawsuits it is facing over its massive recall of contaminated pet food last year. The company said that parties to the so-called...
S&P Takes Rating Actions -‘Mostly Negative’- on U.S. Mortgage Insurers
Feb 15 2008 // Standard & Poor’s Ratings Services has issued a blanket bulletin outlining the rating actions, which it notes are “mostly unfavorable,” on several U.S. mortgage insurers and their core and dependent...
