Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Canada’s Fairfax to Buy Switzerland’s Allied World for $4.9B in Cash, Stock
Dec 19 2016 // Fairfax Financial Holdings Ltd., the Canadian investment and insurance company, agreed to buy Allied World Assurance Co. for $4.9 billion in cash and stock in Chief Executive Officer Prem Watsa’s biggest...
Canada’s P/C Insurance Market Stable with Good Demand: Moody’s
Dec 12 2016 // The outlook for the Canadian property and casualty (P/C) industry is stable, driven by good demand, strong underwriting discipline and solid balance sheets, says Moody’s Investors Service in a report. However, these...
Major Canada Earthquake Could Lead to Widespread Insurer Insolvencies: Report
Nov 22 2016 // A massive earthquake off the coast of British Columbia has the potential to cause widespread failure among insurance companies and trigger a domino effect across the financial sector, according to a Conference Board of...
October Floods in Atlantic Canada Cost $100M-Plus in Insured Damage
Nov 21 2016 // A tropical moisture system resulting from Hurricane Matthew swept through Atlantic Canada last month, resulting in more than $100 million in insured damage, according to Insurance Bureau of Canada (IBC), which quoted a...
Chubb Launches Liability Coverage Suite to Protect Family Offices in Canada
Nov 9 2016 // Chubb has launched a new suite of insurance coverages to help family offices* manage their liability exposures. Called the “Family Office Amplifier,” Chubb said the product addresses “the wide spectrum of...
Verisk Analytics Buys Canadian Real-Time Analytics Firm Analyze Re
Oct 24 2016 // Data firm Verisk Analytics Inc. said it has acquired Halifax, Novia Scotia-based Analyze Re, a software analytics provider for the reinsurance and insurance industries founded in 2013. Terms of the deal were not...
PartnerRe to Buy Canada’s Aurigen Capital, in Life Reinsurance Push
Oct 21 2016 // PartnerRe Ltd., the reinsurer owned by John Elkann’s EXOR SpA, agreed to buy Aurigen Capital to expand in coverage of life policies in North America. PartnerRe agreed to pay C$375 million ($284 million) in a deal...
Slow Pace of Insurance Payouts, Rebuilding Angers Alberta Wildfire Victims
Oct 18 2016 // Some five months after the wildfires that devastated Fort McMurray were extinguished, anger over red tape and the slow pace of insurance payouts and permit issuance is flaring in the remote northern Canadian city. More...
Canada’s Health Insurance Startup, League, Receives Broker License
Oct 12 2016 // Canadian health benefit startup League Inc said on Wednesday it has teamed up with the insurance arm of backer Royal Bank of Canada as it expands into insurance, targeting the many small businesses offering no such...
Olsen Tapped as President, HUB Canada; Robertson as Exec VP, Int’l Business
Oct 11 2016 // Hub International Ltd. (HUB), the Chicago-based global insurance brokerage, has named Tina Osen as president of HUB Canada. She currently is president of HUB TOS in British Columbia, Canada. In addition, Chad Robertson,...
Canada’s Regulator Tightens Capital Requirements for Mortgage Insurers
Sep 23 2016 // Canada’s financial services regulator released new draft capital requirements for federally regulated mortgage insurers to better reflect growing risks in the country’s housing markets. The Office of the...
Burns & Wilcox Names CRC’s Fuhrman to Retail Agency National Relationship Post
Sep 22 2016 // H.W. Kaufman Financial Group and Burns & Wilcox announced that Marc Fuhrman will join the firm in a new role as national relationship manager. Fuhrman, based in Los Angeles, formerly served as senior vice president of...
Changes at the Top of Hub International: Cohen, Gulliver, Lineker
Sep 20 2016 // Insurance broker Hub International Limited (HUB) has named Marc Cohen, currently regional president of HUB East Region, as president of HUB International as part of a restructuring of top management. Cohen will replace...
AIG Selling Stake in Ascot Lloyd’s Syndicate; Will Keep Bermuda, Reinsurance Ties
Sep 16 2016 // American International Group Inc. has agreed to sell its interest in Ascot Underwriting Holdings Ltd. (AUHL) and related syndicate-funding subsidiary Ascot Corporate Name Ltd. to Canada Pension Plan Investment Board...
Hub International Acquires Canadian Agency, New Dimensions Underwriters
Sep 12 2016 // Global insurance broker Hub International Ltd. has acquired New Dimensions Underwriters Ltd. Based in Edmonton, Alberta, Canada, New Dimensions is a managing general agency. Russ Davis, the owner and president of New...
Court Sides with California-based Grocer Trader Joe’s in Knockoff Suit
Aug 29 2016 // A U.S. court has the authority to hear a trademark lawsuit by grocery chain Trader Joe’s against a man who purchased the company’s products and resold them in Canada at “Pirate Joe’s,” a store...
WSJ: AIG May Sell Shares in Lloyd’s Unit Ascot to Canadian Pension Board
Aug 23 2016 // American International Group Inc. is in early talks to sell its minority stake in the Lloyd’s of London syndicate manager Ascot Underwriting Holdings Ltd. to Canada Pension Plan Investment Board (CPPIB), the Wall...
Natural Catastrophes Drive Global Insured Losses to $31B in H1: Swiss Re’s Sigma
Aug 18 2016 // Global insured losses from natural catastrophes and man-made disasters during the first half of 2016 reached US$31 billion, or 44 percent of total economic losses of US$71 billion, according to a report issued by Swiss...
Litigation Insurance Reimburses Plaintiff Lawyers Losing Cases on Contingency
Aug 17 2016 // When David Brill lost a trial for a client who fell off his neighbor’s ladder, it was a rare failure for his three-member Florida law firm. It also cost him $30,000 in expenses since he’d taken the case on...
New Death Prompts ARC Airbag Probe in US, Canada
Aug 8 2016 // Auto safety regulators in two countries are investigating another deadly airbag problem that could affect up to 8 million vehicles. Investigators in the U.S. and Canada are looking into a crash in the Canadian province of...
