Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Canada’s Sovereign Signs ‘Alliance Agreement’ with OneBeacon
Feb 28 2007 // Canada’s Sovereign General Insurance Company and OneBeacon Insurance Company announced the signing of a Strategic Alliance Agreement. The deal will facilitate the “introduction of products to Canada for certain...
Hynes Named Willis Canada President, CEO
Feb 20 2007 // Willis Group Holdings has named Richard T. Hynes President and CEO of Willis Canada succeeding Wole Coaxum. The change becomes effective March 1. Hynes, a native Canadian, has over 25 years of management and industry...
Business Moves
Feb 11 2007 // Goldman Sachs, USI Holdings Big insurance broker USI Holdings Corp. headquartered in Briarcliff Manor, N.Y., agreed to be acquired by GS Capital Partners, a private equity affiliate of Goldman, Sachs & Co., in a...
Marsh Sells Putnam to Canada’s Great-West Lifeco for $3.9 Billion
Feb 1 2007 // Marsh & McLennan Companies, Inc. (MMC) announced today that Great-West Lifeco Inc., a financial services holding company controlled by Canada-based Power Financial Corp., has signed a definitive agreement to purchase...
Kingsway Acquires St. Paul Travelers’ Non-Standard Auto Unit, Mendota
Jan 24 2007 // Canada’s Kingsway Financial Services, Inc. has agreed to acquire Mendota Insurance Co., a wholly owned subsidiary of The St. Paul Travelers Companies, Inc. The transaction includes Mendota’s wholly owned...
Willis Strengthens Montreal Presence
Jan 19 2007 // Global insurance broker, Willis Group Holdings is strengthening its presence in Montreal, Quebec, Canada with several new appointments. Luc Brunet and Jacques Simard have been named to the positions of Sr. VP and Account...
IBC Aims to Convince Canadian Drivers’ to Pay Attention
Jan 12 2007 // The Insurance Bureau of Canada asks the rhetorical question as to whether Canadian drivers are “prepared to give up their cellphones and other distractions while driving?” The IBC noted that “despite the...
ACE Tempest Re Canada Formed; Petalas Named President
Jan 9 2007 // The Bermuda-based ACE Tempest Re Group, an independent division of ACE Limited, announced the establishment of ACE Tempest Re Canada, a wholly owned managing underwriter that will write all lines of property and casualty...
BB&T Completes AFCO, CAFO Acquisitions
Jan 3 2007 // BB&T Corporation (NYSE:BBT) subsidiary Branch Banking and Trust Company completed its acquisition of insurance premium finance company AFCO Credit Corporation and its Canadian affiliate, CAFO Inc., from Mellon...
Marsh Reported Selling Putnam to Canada’s Power Company
Jan 2 2007 // Marsh & McLennan Companies Inc., the nation’s largest insurance broker, has selected a buyer for its Putnam Investments mutual funds and investment management division, according to a report last Friday. Marsh...
Best Affirms Co-operators General, Subs Ratings; Raises Sovereign General Ratings
Dec 21 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A-” (Excellent) and the issuer credit rating (ICR) of “a-” of Canada’s Co-operators General Insurance Company. Best also...
Robert Coates Jr. of Ingham, Coates and Payne Dies
Nov 16 2006 // Robert E. Coates Jr., an insurance broker in Pasadena, Calif., for more than 50 years and resident of La Canada Flintridge died Saturday, Nov. 4. A former blimp pilot for the Navy, he joined Jimmy Ingham and Gleeson...
Best Issues Special Report on Canadian Auto Insurance Industry
Oct 31 2006 // “During the past 10 years, the Canadian automobile insurance industry’s underwriting results have changed dramatically as reflected by the significant variations in the direct loss ratio,” concludes a...
Park Group Expands into Canada with Opening of Toronto Office
Sep 19 2006 // The Park Group, international wholesale insurance and reinsurance brokers, has expanded its operations into Canada with the opening of a new office in Toronto concurrent with the formation of Park Re Canada. “The...
BB&T to Acquire Two Mellon-Owned Premium Finance Cos.
Aug 24 2006 // BB&T Corporation principal subsidiary Branch Banking and Trust Company has entered into a purchase agreement to buy insurance premium finance company AFCO Credit Corporation and its Canadian affiliate, CAFO Inc., from...
Ohio Great American Opens Liability Division Branch in Canada
Aug 15 2006 // Great American Insurance Group’s Executive Liability Division recently announced the opening of a new branch office in Toronto, Canada. The Executive Liability Division adds Michael Shore, CRM and Oren Schemool, MBA...
HKMB Names Parker VP/Surety Solutions
Aug 15 2006 // Canada’s HKMB International Insurance Brokers announced that Kelly A. Parker has joined the firm’s Toronto office as Vice President & Practice Leader, HKMB Surety Solutions. She “will join...
Hub International Earnings Rise Sharply for 2nd Quarter
Jul 27 2006 // Hub International reported a 32 percent increase in revenue and a 286% increase in net earnings from continuing operations for Hub International Limited in the second quarter ended June 30, 2006 attributing the results to...
Hub International Buys Canadian Broker’s Life Servicing Business
Jul 12 2006 // Hub International Limited has acquired life insurance portfolio from Standard International Underwriters Ltd. Details of the purchase by the Toronto-based Hub Financial Inc.were not disclosed. Both HUB Financial and SIU...
Canadian Business Ill-Prepared for Climate Change Risk, Lloyd’s Warns
Jul 12 2006 // Canadian business is vulnerable to climate change and the increasing frequency and intensity of natural catastrophes, Lloyd’s Chairman Lord Peter Levene warned in a July 11 speech to the Vancouver Board of...
