Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
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...
Tillinghast Study Says D&O Liability Premiums Skyrocket as Shareholder Claims Increase
Apr 28 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...
INSURANCE BUREAU OF CANADA SAYS INDUSTRY REACHED A ‘NEW LOW’ IN 2002
Apr 7 2003 // Borrowing a phrase from Britain’s Queen Elizabeth the Insurance Bureau of Canada labeled the year 2002 an “Anni horribiles” as it reported that the financial results for the country’s P/C insurers...
R&SA Canada to Provide Travel Coverage for ETFS Group
Mar 18 2003 // Royal & Sun Alliance Insurance Company of Canada announced an agreement with Expert Travel Financial Security Inc. (ETFS), described as a specialist in “added-value niche health and travel insurance program...
Best Affirms Most Ratings on Canada’s Fairfax
Mar 17 2003 // A.M. Best Co. announced that it has affirmed the various financial strength ratings of the operating subsidiaries of Toronto-based Fairfax Financial Holdings Limited, with the exception of TIG Insurance Group, which was...
Insurance Bureau of Canada Says Industry Reached a “New Low” in 2002
Mar 12 2003 // Borrowing a phrase from Britain’s Queen Elizabeth the Insurance Bureau of Canada labeled the year 2002 an “Anni horribiles” as it reported that the financial results for the country’s P/C insurers...
Kingsway Comments on Best’s Rating Actions
Feb 28 2003 // Toronto-based Kingsway Financial Services Inc. issued a statement following the completion of a review of the financial strength ratings of it operating subsidiaries by A.M. Best Co., which affirmed current ratings on most...
Lloyd’s Accredits, Canadian, Italian Brokers
Jan 24 2003 // Lloyd’s announced that it has recently accredited Canada’s Beach & Associates Ltd. and Italy’s Aon Italia Srl as the first new brokers to be given full access to the Lloyd’s market in...
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...
