Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
A.M. Best Upgrades Rating of Gerling Canada Insurance Co.
Jul 11 2003 // A.M. Best Co. has upgraded the financial strength rating to A (Excellent) from A- (Excellent) of Gerling Canada Insurance Company (Ontario), which will be known as GCAN Insurance Company in the near future. The rating...
Torquest Partners, Other Investors Acquire Gerllng’s Canadian P/C Operations
Jul 1 2003 // Torquest Partners Inc., Newport Partners Inc., CIBC Capital Partners, a division of Canadian Imperial Bank of Commerce, and company senior management (the Investors) announced that they have acquired Gerling Canada...
A.M. Best Affirms Rating of ING Canada
Jun 27 2003 // A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) of ING Canada (Toronto). The group, which operates under a pooling arrangement, consists of Belair Insurance Company Inc., ING Insurance Company of...
Dominion of Canada Announces NB Broker Appointments
Jun 27 2003 // The Dominion of Canada General Insurance Company announced that all offices of The Huestis Group Agencies in northern New Brunswick are now authorized to do business with the company In announcing these broker...
S&P Lowers Aviva’s Canadian Subs to ‘A’
Jun 24 2003 // Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and financial strength ratings on the primary operating subsidiaries of Toronto, Ontario-based Aviva Canada Inc....
Hub International Completes Private Debt Offering
Jun 12 2003 // Hub International Limited (NYSE:HBG) and (TSX:HBG) announced today that it has completed a private placement of US$65,000,000 in principal amount of unsecured senior notes. The senior notes have been issued in two series:...
Canadian April Storm Losses Reach $14.3 Million
May 27 2003 // The Insurance Bureau of Canada has released estimates that the rain storms that swept across the country’s Atlantic region on April 1st caused $14.3 million in insured damage to cars, homes and other...
Best Announces Rating Actions on AXA’s Canadian Subsidiaries
May 19 2003 // A.M. Best Co. announced several ratings actions affecting the AXA Group’s Canadian subsidiary companies, affirming some ratings, and lowering others. It has affirmed the financial strength ratings of A+ (Superior) of...
IBC’s AIM Conference Brings Together Insurers and Car Makers
May 15 2003 // The opening in Toronto of the Insurance Bureau of Canada’s sixth annual Automotive Insurers and Manufacturers Forum gave insurance and automotive professionals from across Canada a valuable opportunity to share...
IBC Honors Five “Disaster Prepared” Communities
May 9 2003 // The Insurance Bureau of Canada (IBC) announced the launch of its new, national Foundation for the Future program that “recognizes the efforts of communities to manage exposure to natural disasters, extreme weather...
Study Says D&O Liability Premiums Soar, Shareholder Claims Increase
May 5 2003 // On the heels of similar increases from the previous year, purchasers of Directors & Officers (D&O) liability insurance paid nearly 30 percent more for their D&O coverage, according to Tillinghast Towers...
Fairfax Financial Posts $108.8 Million Q1 Net
May 5 2003 // Canada’s Fairfax Financial Holdings Limited announced that net earnings for the first quarter of 2003 increased to C$154.6 million (U.S. 108.8 million) or C$10.60 per share (U.S. $7.46), as a result of continued...
Best Puts Gerling Canada Rating Under Review
May 5 2003 // A.M. Best Co. announced that it has placed the financial strength rating of A- (Excellent) of Gerling Canada Insurance Company (Toronto) “under review with developing implications.” The bulletin noted that the...
Tillinghast Study Says D&O Liability Premiums Skyrocket as Shareholder Claims Increase
Apr 28 2003 // On the heels of similar increases from the previous year, purchasers of Directors & Officers (D&O) liability insurance paid nearly 30 percent more for their D&O coverage, according to Tillinghast Towers...
INSURANCE BUREAU OF CANADA SAYS INDUSTRY REACHED A ‘NEW LOW’ IN 2002
Apr 7 2003 // Borrowing a phrase from Britain’s Queen Elizabeth the Insurance Bureau of Canada labeled the year 2002 an “Anni horribiles” as it reported that the financial results for the country’s P/C insurers...
R&SA Canada to Provide Travel Coverage for ETFS Group
Mar 18 2003 // Royal & Sun Alliance Insurance Company of Canada announced an agreement with Expert Travel Financial Security Inc. (ETFS), described as a specialist in “added-value niche health and travel insurance program...
Best Affirms Most Ratings on Canada’s Fairfax
Mar 17 2003 // A.M. Best Co. announced that it has affirmed the various financial strength ratings of the operating subsidiaries of Toronto-based Fairfax Financial Holdings Limited, with the exception of TIG Insurance Group, which was...
Insurance Bureau of Canada Says Industry Reached a “New Low” in 2002
Mar 12 2003 // Borrowing a phrase from Britain’s Queen Elizabeth the Insurance Bureau of Canada labeled the year 2002 an “Anni horribiles” as it reported that the financial results for the country’s P/C insurers...
Kingsway Comments on Best’s Rating Actions
Feb 28 2003 // Toronto-based Kingsway Financial Services Inc. issued a statement following the completion of a review of the financial strength ratings of it operating subsidiaries by A.M. Best Co., which affirmed current ratings on most...
Lloyd’s Accredits, Canadian, Italian Brokers
Jan 24 2003 // Lloyd’s announced that it has recently accredited Canada’s Beach & Associates Ltd. and Italy’s Aon Italia Srl as the first new brokers to be given full access to the Lloyd’s market in...
