Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
A.M. Best to Close Toronto Office, Consolidate Canadian Operations in U.S.
Jan 13 2003 // A.M. Best Co. announced that it will consolidate all Canadian operations previously conducted by its Toronto office into its corporate headquarters in Oldwick, New Jersey in what it termed an effort to “streamline...
Swiss Re Appoints Ann Godbehere as Chief Financial Officer
Dec 20 2002 // Swiss Re announced that its Board of Directors has appointed Ann Godbehere as CFO, effective 1 April 2003, succeeding John H. Fitzpatrick, who’s been named to head Swiss Re’s Life & Health Business...
S&P Lowers Ratings on Canada’s CGIC to ‘BBB-‘
Nov 6 2002 // Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and financial strength ratings, on Canadian property and casualty insurer Co-operators General Insurance Co....
Assurant Group to Build New Operations Center in Canada
Oct 4 2002 // Assurant Group, a provider of specialty risk management programs for the financial services industry, and the Kingston Economic Development Corporation have announced plans for Assurant to build a new operations center in...
EQECAT To Help Canadian Insurance Bureau Redefine CRESTA Zone Boundaries for Earthquake Loss Exposure
Oct 3 2002 // Oakland-based EQECAT has been selected by the Insurance Bureau of Canada (IBC) to participate in a major industry study that will revise and redraw the Canadian CRESTA zone seismic boundaries. The study plans to use...
Munich-American RiskPartners Restructures Canadian Operations
Aug 28 2002 // Munich-American RiskPartners, a division of American Re-Insurance Company, and a member of the Munich Re Group, announced that is shifting the underwriting and marketing functions for its Canadian clients to the North...
A.M. Best Affirms Ratings of Wawanesa Mutual and Subsidiary
Jul 30 2002 // A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) of Wawanesa Mutual Insurance Company, (Winnipeg, Canada). The rating also applies to Wawanesa General Insurance Company of San Diego, its U.S....
Hub International Sells Over-Allotment Shares To Underwriters
Jul 2 2002 // Chicago and Toronto-based insurance brokerage, Hub International Limited, announced that J.P. Morgan Securities Inc., on behalf of the underwriters of the previously announced public offering of 6,000,000 common shares in...
Canada-Indonesia Dispute over Manulife Heats Up
Jun 21 2002 // The dispute between Canada and Indonesia over the decision of a local court to declare the Indonesian subsidiary of Canada’s Manulife bankrupt, entered a new round when the receiver published a full page ad in a...
Royal and SunAlliance Investigates Alleged Fraudulent Use of Name
Apr 30 2002 // Royal & SunAlliance USA announced that it is investigating the unauthorized and apparent fraudulent use of its name to offer various insurance and financial products through print advertisements and the Internet. The...
ACE USA to Offer Specialized Coverage for U.S., Canada to Insure Against Terrorism Risk
Apr 12 2002 // ACE USA announced that it would provide a specialist solution to several specific industry classes with a shortage of terrorism related insurance capacity. The ACE terrorism insurance product is focused on U.S. and...
The Guarantee Company of North America USA Makes Name Change
Mar 5 2002 // The Guarantee Company of North America, a property and casualty insurance company, with more than 100 years of operations and Canada’s leading issuer of surety and fidelity bonds, announced its wholly owned...
Canadian Regulators Approve ING, Zurich Alliance
Jan 28 2002 // The Canadian subsidiaries of Holland’s ING Group and Anglo-Swiss Zurich Financial Services have received the final regulatory approvals required to establish their strategic alliance. Under the terms, first announced...
A.M. Best Lowers Allianz Canada Ratings to ‘A’ (Excellent)
Jan 24 2002 // A.M. Best announced that it has downgraded the financial strength ratings to A (Excellent) from A++ (Superior) for Allianz Insurance Company of Canada and its affiliated company, Trafalgar Insurance Company of Canada,...
Angels of the Industry 2001
Dec 17 2001 // The date of Sept. 11 has been indelibly etched into the minds of virtually every American. And yet, despite the tragic events of that day and their repercussions, at least one ray of hope has shone through—that is, the...
Cost of Risk Declines for Second Consecutive Year
Dec 10 2001 // For the second consecutive year, the overall cost of risk declined to the lowest point in over a decade, according to the newly released 2001 RIMS Benchmark Survey®. The 200-page survey, co-produced by the Risk and...
Angels of the Industry 2001
Dec 10 2001 // The date of Sept. 11 has been indelibly etched into the minds of virtually every American. And yet, despite the tragic events of that day and their repercussions, at least one ray of hope has shone through—that is, the...
RMS Releases Newest Catastrophe Model
Oct 3 2001 // Risk Management Solutions (RMS), a specialist in the area of natural hazard risk modeling, announced the most recent release of its U.S. and Canada Tornado/Hail models for use with RiskLink®-DLM and ALM® catastrophe...
CGU Canada Receives Ratings
Aug 13 2001 // A.M. Best Co. assigned a FSR of “A” to CGU Insurance Company of Canada (CGU), Scarborough, Ontario, and Elite Insurance Co., Ontario, Canada. A.M. Best also assigned a FSR of “A-” to Scottish and...
Canadian Auto Losses Continue to Rise
Jul 19 2001 // Losses related to auto insurance continue to climb in the Atlantic region of Canada following a report released by The Insurance Bureau of Canada (IBC). According to Don Forgeron, regional vice-president of the IBC, costs...
