Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
November Storms in Southern Alberta Caused $195 Million Insured Loss
Dec 29 2011 // Windstorms that hit southern Alberta in November have caused at least C$200 million [US$195] in insured damage, according to the Insurance Bureau of Canada. However, the estimate is preliminary, based on data from Property...
Ratings Recap: Aviva Canada, IRB-Brasil
Dec 16 2011 // A.M. Best Co. has placed under review with negative implications the financial strength rating (FSR) of ‘A ‘(Excellent) and issuer credit ratings (ICR) of “a+” of Aviva Insurance Company of Canada...
S&P Sees ‘Highs and Lows’ for Canadian P/C Insurers
Dec 13 2011 // As 2011 winds down, Canadian property and casualty (P&C) insurers can “list some notable lows and highs during the year, including unusually large catastrophe losses from wildfires in Slave Lake, Alta., and...
Canada Pulls Out of Kyoto Climate Change Protocol; First Country To Do So
Dec 13 2011 // On Monday Canada became the first country to announce it would withdraw from the Kyoto protocol on climate change, dealing a symbolic blow to the already troubled global treaty. Environment Minister Peter Kent broke the...
Willis Re Canada Appoints Bradshaw as Board Chairman
Nov 23 2011 // Willis Re Canada marked the completion of its first full year of operations in the country with the announcement of the appointment of Jim Bradshaw as Chairman of the Willis Re Canada Board. He is also the CEO of Willis Re...
Manulife Expands Asian Reach with Cambodia Unit
Nov 16 2011 // Manulife Financial said it has received approval to establish operations in Cambodia, which will expand the Canadian insurer’s reach into an 11th Asian market. Manulife said in a statement it had “approval in...
RSA Makes Changes to Operational Structure, Executive Team
Nov 14 2011 // UK-based RSA has announced announces a number of changes to the Group’s operating structure and Executive Team. As of January first the group will be reorganized into four regions: UK & Western Europe;...
Auto Insurers Keep Eye on Cross-Border Claims with Canada
Nov 7 2011 // Staged automobile accidents in Canada’s most populated province of Ontario pose a unique problem for American auto insurers that must deal with Ontario’s stringent no-fault benefits. Some U.S.-based adjusters...
3M Powerless as October Snow Surprises Northeast
Oct 31 2011 // A freak October snowstorm knocked out power Sunday to more than 3.1 million homes and businesses across the U.S. Northeast, with close to two feet (60 centimeters) of snow falling in some areas over the weekend. The storm...
RIM Hit with Consumer Lawsuits over BlackBerry Outage
Oct 27 2011 // Consumers in the United States and Canada have sued Research in Motion for a days-long service outage on BlackBerry devices that rippled across the world earlier this month. The system-wide failure of the service had left...
Energi to Enter Canadian Insurance Market, Forms Energi of Canada LTD
Oct 24 2011 // Energi has formed a wholly owned subsidiary, Energi of Canada LTD and is entering the Canadian insurance market. Initially, Energi will offer its Energy Property Insurance Program along with Energi’s Energy Savings...
Weak Markets to Hobble Canadian Insurer Results
Oct 24 2011 // Canadian insurers are looking at a bleak quarter of financial results due to a sharp drop in stock markets and bond yields, and analysts are staying cautious on the stocks even at rock-bottom valuations. Sun Life Financial...
Arch Re Group Appoints McGuinness to Head New Canada Treaty Operation
Oct 11 2011 // Arch Reinsurance Group has announced its expansion into Treaty reinsurance in Canada with the appointment of Patrick McGuinness to lead Arch Re Canada’s new Treaty operation based in Toronto. He has 35 years of...
Cross Border Claims Frustrate Auto Carriers
Oct 3 2011 // Staged automobile accidents in Canada’s most populated province of Ontario pose a unique problem for American auto insurers that must deal with Ontario’s stringent no-fault benefits. Some U.S.-based adjusters...
Panel Reports Climate Change to Cost Canada Many Billions
Sep 29 2011 // Climate change will cause damage in Canada equivalent to around 1 percent of GDP in 2050 as rising temperatures kill off forests, flood low-lying areas and cause more illnesses, an official panel said Thursday. The...
AXA Completes Sale of Canadian Operations
Sep 26 2011 // France’s AXA Group announced that it has successfully completed the sale of its Canadian operations in Property & Casualty and Life & Savings insurance to Intact Financial Corporation for a total cash...
People
Sep 19 2011 // XL Insurance has made six key appointments to its North America Construction team. The latest additions to XL Insurance’s North America construction team include: Lawrence Lejfer — Vice president and senior...
Hub International to Acquire Canadian Broker Horizon Insurance
Sep 15 2011 // Hub International Limited announced that it has entered into a definitive agreement to acquire the operations of Horizon Insurance, LP. , a full service insurance brokerage firm headquartered in Manitoba. The acquisition...
Best Report Concludes Canada’s Insurers Improve, But Risk Profile Rises
Sep 8 2011 // A report from A.M. Best concludes that the Canadian insurance industry “continued to improve in 2010, exhibiting strong capitalization and favorable overall profitability, aided by Canada’s relatively strong...
Aran Insurance Services to Offer Specialty P&C Programs in Canada
Sep 6 2011 // Aran Insurance Services Group’s property and casualty subsidiary MiniCo Insurance Agency, LLC, will offer specialty insurance programs in Canada through its new affiliate, MiniCo Insurance Agency of Canada, Inc....
