Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Recent Ratings Round-up
Sep 5 2003 // Due to the significant number of ratings announcements released recently, the IJ offers the following summary of actions taken by the rating agencies indicated. More complete information can be obtained directly from the...
Copart Opens First Canadian Facility in Toronto
Sep 5 2003 // California-based Copart, Inc. announced that it has opened its first salvage facility in Canada, near Toronto. The addition of this 28-acre “greenfield” location brings the number of sites operated by the...
Kingsway Appoints Two Executives
Sep 3 2003 // Toronto-based Kingsway Financial Services Inc., a leading non-standard auto insurer in the U.S. and Canada, announced the appointment of Stuart Kistruck as the new President & CEO of York Fire & Casualty...
Insurers Responding Quickly to Kelowna Fire Crisis Says IBC
Aug 26 2003 // The Insurance Bureau of Canada reported that insurers in British Columbia are acting quickly to assist policyholders whose homes and businesses have been affected by the forest fires currently raging in the province (See...
Report Europe’s Insurers Take Cautious Line on Blackout Claims
Aug 18 2003 // European Insurers are reportedly adopting a “wait and see” attitude concerning potential claims from the blackout that hit the Northeastern U.S. and parts of Canada last week. Both Reuters and Dow Jones...
Hub Posts Strong Q2 Growth
Aug 4 2003 // Chicago-based brokerage Hub International Ltd. reported strong growth in the second quarter and first half of 2003, leading the company to update its earnings guidance for the full year. All financials are reported in U.S....
A.M. Best Affirms Rating of Royal Bank of Canada Insurance
Jul 21 2003 // A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of Royal Bank of Canada Insurance Company Ltd., (RBCI) (St. Michael, Barbados). The rating has a stable outlook. The rating for RBCI reflects its...
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...
