Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
IBC Estimates Alberta Wind, Thunderstorm Insured Losses over $100 Million*
Aug 15 2012 // The Insurance Bureau of Canada (IBC) reports that the estimated insured damage caused by the recent severe thunderstorm event that hit the Edmonton area in July amounts to more than $100 million. The IBC noted that the...
Ratings Recap: Electrical Contractors’, Scotia, Société Centrale, Adamjee
Aug 10 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of UK-based Electrical Contractors’ Insurance...
ING Considering Sale of UK, Canadian Online Banks
Aug 3 2012 // The Netherlands-based group ING, which has been forced to sell assets in return for receiving state aid during the financial crisis, said it is considering the sale of its UK and Canadian online banking units, estimated to...
Legal Expert Taherbhai Joins Aon Infrastructure Solutions in Canada
Aug 1 2012 // Aon Infrastructure Solutions, the global risk advisory group for alternative project delivery of Aon plc, announced that Tariq Taherbhai has joined the firm as a director of the unit. He has “extensive legal...
Fairfax’s Watsa Raises Stake in BlackBerry Maker RIM to Nearly 10%
Jul 24 2012 // Canadian investor Prem Watsa, dubbed the “Warren Buffett of the North,” has nearly doubled his company’s stake in embattled BlackBerry maker Research In Motion Ltd (RIM) to just under 10 percent,...
Ratings Recap: CIBC Re, ACS (NZ) Ltd, CCR (Algeria)
Jul 19 2012 // 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), both with stable outlooks....
Catlin Names Huebel CEO of Canadian Unit, Other Executive Changes
Jun 28 2012 // The Bermuda-based Catlin Group Limited announced that David Huebel will take over as CEO of Catlin Canada, effective July 3. Catlin Canada is the Group’s Canadian underwriting hub, headquartered in Toronto with...
Applied Systems Names Purdy Sr. VP, General Mgr. for Canadian Operations
Jun 20 2012 // Insurance software company Applied Systems announced that Jeffrey D. Purdy has been appointed senior vice president and general manager of Applied Systems Canada. He is an Ontario native and a Canadian insurance industry...
Business Moves – Southeast
Jun 18 2012 // WNS Global, South Carolina An Indian company is slated to open a new facility to process insurance claims and provide insurers other financial and accounting services that could create up to 750 new jobs in South...
Business Moves – Midwest
Jun 18 2012 // strong>Arthur J. Gallagher & Co., Grossman & Associates Arthur J. Gallagher & Co. has acquired Grossman & Associates Inc. in Beachwood, Ohio. Terms of the transaction were not disclosed. Founded in...
Game On!
Jun 18 2012 // Market Conditions Right for Insurers in Sports, Entertainment Segment Americans love their sports and entertainment, and right now so does the insurance industry. Insurers are renewing their focus on this class where they...
Ratings Roundup: Aviva Canada, AEGIS
Jun 11 2012 // A.M. Best Co. has reviewed and maintained the under review status of the financial strength ratings of A (Excellent) and issuer credit ratings (ICR) of “a+” of Aviva Insurance Company of Canada and its...
Applied Systems Acquires Canada’s Compu-Quote
Jun 5 2012 // Insurance software firm Applied Systems Inc. has acquired Compu-Quote Inc., a Canadian comparative insurance rating company. “The acquisition of Compu-Quote establishes Applied Systems as the leading provider of...
Best Affirms State Farm Mutual, Affiliates & Subs Ratings
Jun 4 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of State Farm Mutual Automobile Insurance Company (SFMAIC) and its...
Hagerty Classic Car Insurance Now Available to Canadian Brokers
Jun 4 2012 // Hagerty Insurance Agency, the specialist provider of collector vehicle insurance, announced that as of April 24, 2012 its subsidiary, Hagerty Canada, LLC, will make similar coverage available to all brokers in Canada. The...
Frank Crystal & Co. Launches Marine Insurance Practice
May 23 2012 // Frank Crystal & Co., an independent insurance brokerage firm, has formed an exclusive cooperation with P.L. Ferrari & Co. to launch a new U.S.-based marine insurance practice. A European-based insurance broker...
Game On!
May 21 2012 // Market Conditions Right for Insurers in Sports, Entertainment Segment Americans love their sports and entertainment, and right now so does the insurance industry. Insurers are renewing their focus on this class where they...
Maybe Europe Should Abandon the Euro Says Canada’s Finance Minister
May 15 2012 // If European countries are not prepared to bail out fellow euro zone members, maybe they should just abandon the whole concept of a common currency, Canadian Finance Minister Jim Flaherty said on Monday in some of his most...
Best Affirms Travelers and Subs ‘A+’ Ratings
May 11 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the property/casualty subsidiaries of The Travelers Companies, Inc....
Best Affirms Fairfax Financial and Most Subs Ratings
May 4 2012 // A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” and the unsecured debt and preferred equity ratings of Fairfax Financial Holdings Limited. Best also affirmed the financial strength rating...
