Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Ratings Recap I: Coachman/SGI, Ceska, Indus. Alliance, Polish Re, Jasindo
Jan 30 2009 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘B’ (Fair) and issuer credit rating (ICR) to “bbb” from “bb+” of Canada’s Coachman...
BMO Financial Agrees to Buy AIG Life of Canada for $308 Million
Jan 13 2009 // American International Group, Inc. (AIG) announced today an agreement to sell AIG Life Insurance Co. of Canada to BMO Financial Group. Under the terms of the transaction, BMO will acquire AIG Life of Canada for...
Huebel Named Catlin Canada Chief Underwriter
Jan 7 2009 // Catlin Canada Inc., the Canadian operating unit of the Bermuda-based Catlin Group Limited, announced that David Huebel joined the company on January 5, 2009, as Chief Underwriting Officer. He will be based in the Toronto...
Ratings Roundup: Starr Insurance, Temple
Dec 29 2008 // A.M. Best Co. has assigned a financial strength rating of ‘A’ (Excellent) and an issuer credit rating of “a” to Bermuda-based Starr Insurance & Reinsurance Limited (SIRL), an indirect wholly...
Scottsdale Launches Canada Partnership with Co-operators
Dec 23 2008 // Scottsdale Insurance Company has announced the launch of a partnership with “The Co-operators, the leading Canadian-owned, mutli-product insurer, to assist them in expanding their commercial lines portfolio and to...
Canada’s Maple Leaf Reaches Deal to Settle Listeria Lawsuits
Dec 19 2008 // Maple Leaf Foods said Thursday it has agreed to settle class-action lawsuits related to an outbreak of listeriosis food poisoning caused by contaminated deli meats processed at its Toronto plant. The settlement, which...
Canada’s Natural Gas Firm Tenaska Buys Back Interests from AIG
Dec 3 2008 // American International Group, Inc. (AIG) and Tenaska, Inc. (Tenaska) today reported that Tenaska will repurchase the interest in Tenaska Marketing Ventures, Tenaska Gas Storage and Tenaska Marketing Canada (collectively...
Fairfax to Buy Rest of Northbridge for $550 Million
Dec 2 2008 // Fairfax Financial Holdings said Monday it plans to spend C$686 million (US$550 million) to buy the remaining shares of Canadian property and casualty insurer Northbridge Financial that it does not already own. Fairfax,...
Vermont Readies New Driver’s Licenses to Ease Border Crossing to Canada
Nov 26 2008 // Vermont is getting ready to issue its first enhanced driver’s licenses, which will allow holders to cross the United States-Canada border without a passport or other supporting documents. State Motor Vehicle...
Kerr Named Arch Canada CEO
Nov 17 2008 // Arch Capital Group announced that Gordon (Gord) Kerr has accepted the position of CEO and Chief Agent of Arch Insurance Group’s Canadian insurance operations. Arch Insurance Group is a division of Arch Capital Group....
ING Canada CEO Eyes Acquisitions
Nov 13 2008 // ING Canada is in a good position to make an acquisition and has the financial muscle to acquire pretty well any property and casualty insurer in Canada, the chief executive of the home and auto insurer said...
Ratings Recap: Northbridge, Credit & General, Transportation, Tenet
Nov 6 2008 // Standard & Poor’s Ratings Services has raised its counterparty credit and financial strength ratings on Northbridge Financial Corp.’s operating companies–Commonwealth Insurance Co., Markel Insurance...
Canada Insurance Regulator Eases Capital Guidelines
Oct 29 2008 // Canada’s insurance regulator on Tuesday eased guidelines on the capital that insurers need to set aside for guaranteed payments on segregated funds, lifting a concern that weighed on their share prices as equities...
Ratings Roundup: CIBC Re, Exporters, Kenya Re, CISL
Oct 23 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Barbados-based CIBC Reinsurance Company Limited (CIBC Re) (Barbados) with stable...
W.R. Berkley Forms New Canadian Underwriting Operation
Oct 16 2008 // W. R. Berkley Corp. announced the formation of Berkley Underwriting Managers Canada, Ltd. The new unit is based in Toronto and will offer a wide range of specialty casualty commercial insurance products, including general...
Lockton Teams up with Canada’s BFL
Oct 7 2008 // BFL Canada and Lockton announced an alliance to serve clients in North America. BFL Canada is the country’s largest independent commercial insurance broker. Lockton is the world’s largest privately held...
Hansen Appointed as New President of Catlin Canada
Sep 16 2008 // The Bermuda-based Catlin Group Limited announced that Michael Hansen has been appointed president of Catlin Canada Inc., based in the Calgary office. Hansen most recently served as vice president and Western regional...
Integro Canada Names Dunn Chairman, Rankin President
Sep 4 2008 // The New York-based broker Integro has announced the promotion of two key executives in its Canadian division. Robert Dunn, Managing Principal and office leader for the Montreal office, becomes Chairman of Integro (Canada)...
Maple Leaf Takes Blame for Food Poisoning Outbreak
Aug 28 2008 // Maple Leaf Foods Inc’s chief executive said Wednesday his company was fully accountable for an outbreak of listeriosis food poisoning, which has been linked to the deaths of 15 people in Canada. Michael McCain said...
Maple Leaf Foods Confirmed as Source of Deadly Canada Meat
Aug 25 2008 // A food poisoning outbreak that has killed four Canadians and sickened at least 21 others has been genetically linked to meat produced at a plant owned by Maple Leaf Foods Inc authorities said Saturday. The company, one of...
