Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Best Issues Ratings Announcements on Fairfax Subsidiaries
Feb 11 2011 // A.M. Best has issued a series of ratings announcements relating to Canada’s Fairfax Financial Holdings and its subsidiaries. The bulletins are as follows: A.M. Best Co. has removed from under review with negative...
Ratings Recap: Everest Re (Canada), Cologne Re (Ireland), Gulf Insurance
Feb 2 2011 // A.M. Best Co. has assigned a financial strength rating of ‘A+’ (Superior) and an issuer credit rating of “aa-” to Everest Insurance Company of Canada (EvCan), both with stable outlooks. Best noted...
Best Upgrades Unifund Assurance Rating; Affirms Ratings of RSA Canada Members
Jan 20 2011 // A.M. Best Co. has upgraded the issuer credit rating (ICR) to “bb+” from “bb” and affirmed the financial strength rating (FSR) of ‘B’ (Fair) of Unifund Assurance Company, which is based...
Hub Acquires Assets of Canadian Broker Grande Prairie
Jan 11 2011 // Hub Acquires Assets of Canadian Broker Phoenix Grande Prairie Group Hub International Limited announced that it has acquired the assets of Phoenix Insurance Group Grande Prairie Inc., headquartered in the Canadian Province...
Canadian Climate Study Forecasts ‘Global Warming for Centuries’
Jan 10 2011 // Carbon dioxide already emitted into the atmosphere will keep contributing to global warming for centuries, eventually causing a huge Antarctic ice sheet to collapse and lift sea levels, Canadian scientists said...
Honda Civics Top List of Canada’s 10 Most Stolen Cars
Dec 20 2010 // The Insurance Bureau of Canada (IBC) recently released its annual list of the most frequently stolen vehicles, as follows: 1. 2000 Honda Civic SiR 2-door 2. 1999 Honda Civic SiR 2-door 3. 2002 Cadillac Escalade 4-door...
Group Says Canadian Firm Unprepared for Spill Response in Midwest
Dec 1 2010 // A lack of equipment and personnel has left TransCanada unprepared to deal with a major spill of crude oil on its Keystone pipeline system, according to a report by a nonprofit environmental group. The 60-page report from...
Canada Revenue Agency Confirms Barbados Insurers Exempt Status
Nov 29 2010 // The Canada Revenue Authority (CRA) confirmed that Barbados insurance companies including Exempt Insurance Companies (EIC) and Qualifying Insurance Companies (QIC) are “liable to tax” under paragraph IV (1) of...
Best Affirms Assurant and Subsidiaries Ratings; Outlook Stable
Nov 22 2010 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the property/casualty and life/health insurance subsidiaries of Assurant, Inc. Best also affirmed the ICR of...
Canada, China Reach Agreement on Insurance Investment
Nov 12 2010 // China’s insurance regulator has cleared the way to let the country’s insurers invest billions of capital in Canadian financial markets, the Canadian government said on Friday. The move, the latest sign of...
Canadian Insurers’ Earnings Results Seen Stronger, but ‘Messy’
Nov 2 2010 // Low interest rates and write downs are expected to lead to another messy quarter for Canada’s insurers, but recent stock market strength means the profit picture should be brighter than last quarter’s weak...
Sources Say Allianz and Partners Plan UK Fast-rail Bid
Oct 29 2010 // German insurer Allianz has tapped Britain’s largest private pension fund and one that invests the pensions of Canada’s Mounties to make a joint bid for Britain’s sole high-speed railway, sources...
Canada’s Sun Life Selling Reinsurance Unit to Berkshire Hathaway
Oct 27 2010 // Canadian insurer Sun Life Financial Inc. said Wednesday it would sell its reinsurance business to Warren Buffett’s Berkshire Hathaway after months of looking for a buyer for the profitable unit. Sun Life did not...
Tight Market Drives Australian Companies into Deals Abroad
Oct 21 2010 // Cash rich Australian companies are being forced to search offshore for takeover targets as the small local market has become too consolidated to get deals past the competition watchdog. With the Aussie dollar at a 28-year...
U.N. Urged to Freeze Climate Change ‘Geo-engineering’ Projects
Oct 21 2010 // The United Nations should impose a moratorium on “geo-engineering” projects such as artificial volcanoes and vast cloud-seeding schemes to fight climate change, green groups say, fearing they could harm nature...
Catlin Canada Establishes Offices in Montreal and Vancouver
Oct 20 2010 // Catlin Canada, the Canadian-based operations of Catlin Group Limited, announced further expansion in the country with the opening of offices in Vancouver and Montreal. Both facilities will begin operations in early...
Lloyd’s McGovern Works to Expand No. American Business; Part II
Oct 18 2010 // Sean McGovern now heads Lloyd’s operations in the U.S. and Canada – the first and third largest sources of business for its underwriters. Lloyd’s not only wants to hold on to that business, but also to...
RSA Acquires GCAN Insurance in Canada for $410 Million
Oct 4 2010 // UK-based RSA Insurance Group plc has announced the acquisition of GCAN Insurance Company, a Canadian mid-market, large risks & specialty commercial insurer, which “offers a range of products including Property,...
Bank of Montreal Eyes U.S., China Acquisitions for Insurance Group
Sep 23 2010 // Bank of Montreal is on the hunt for acquisitions in the United States and China to expand its wealth management operations, while it sees growth in Canada coming from established operations, one of BMO’s top...
Hurricane Igor Heads North After Battering Bermuda
Sep 21 2010 // Hurricane Igor barreled north Monday on a path expected to take it near Newfoundland and energy interests off eastern Canada, after battering Bermuda with heavy winds, waves and rain that caused damage but no...
