Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Best Affirms ‘A+’ Ratings of Canada’s Intact Insurance Group
Jun 16 2010 // A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Intact Insurance Group and its members: Belair Insurance Company Inc....
Faber & Dumas (Willis) Global Special Risks Unit Opens Calgary Office
Jun 9 2010 // Global Special Risks (GSR), the wholesale insurance broker and managing general agent of Willis’ subsidiary, London-based Faber & Dumas, announced it has established an office in Calgary, Alberta, Canada to...
Genstar Capital Acquires Canada’s Granite Global Solutions
Jun 3 2010 // San Francisco-based Genstar Capital, LLC, a middle market private equity firm, announced the acquisition of Granite Global Solutions, a Canadian provider of risk mitigation services to insurance and corporate...
Ironshore Canada Enters Financial, Professional Lines Market
Jun 2 2010 // Ironshore Canada has entered into the financial and professional lines market, naming Dane Hambrook, vice president, to head the division. Ironshore Canada’s Financial and Professional Lines division will provide...
Canada Prohibits Insurance Sales on Bank Web Sites
May 28 2010 // Canada said Thursday it was cracking down on banks that market “unauthorized insurance” on their websites, spelling out new rules designed to keep the realms of banking and insurance separate. Canada’s...
Best Plans Withdrawal of Canada Public Data Ratings; Will Maintain Interactive Ratings
Apr 27 2010 // A.M. Best Co. announced that it plans to withdraw its Canadian public data (pd) rating assignments on or about August 31, 2010. It will assign a category NR-5 (Not Formally Followed) to the financial strength ratings and...
Flights Resume in Parts of Europe
Apr 20 2010 // Flights from large parts of Europe are set to resume on Tuesday under a deal agreed by the European Union to free up airspace closed by a cloud of ash hurled into the sky by an Icelandic volcano. However, with the cloud...
Marsh Joins Aon, Willis in Rejecting Contingent Commission Income
Mar 25 2010 // Giant insurance broker Marsh says its main brokerage unit will not accept contingent commissions on business for U.S. or Canadian clients but its Marsh & McLennan Agency and its affinity and personal lines business...
Catlin Arctic Survey 2010 Explorers Begin Sea Ice Mission
Mar 15 2010 // A team of veteran polar explorers on Sunday began a 500-kilometer [312 mile] trek across the floating sea ice of the Arctic Ocean as part of the Catlin Arctic Survey 2010, an international scientific mission to learn how...
M&A Activity at Decade Lows
Feb 21 2010 // Leading into 2009, agencies were at a crossroads; uncertain of whether to sell, buy, or implement new or improved organic growth strategies. The path was uncertain, but it was widely believed that market, economic and...
PartnerRe Changes Organizational Structure after PARIS RE Acquisition
Feb 12 2010 // Bermuda-based PartnerRe Ltd. Has announced organizational changes, following the acquisition of PARIS RE. The Company said it would “maintain its existing business unit-based operating structure, consisting of three...
Ratings: RSA Canada, Korean Re, New India, Labuan Re, Al-Ahleia, Generali/Volksfuersorge, GCAN
Jan 28 2010 // A.M. Best Co. has upgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit ratings (ICR) to “a” from “a-” of Royal & Sun...
Companies Offer Aid for Haitians; Caribbean Risk Pool Pays $8M
Jan 13 2010 // Companies pledged millions of dollars in aid Wednesday to help victims of a powerful earthquake in Haiti that devastated much of the impoverished country’s capital and killed thousands. Digicel Group, a top mobile...
2009 P/C Insurance Mergers, Acquisitions Large and Small
Dec 20 2009 // Large insurers AIG, Farmers and The Hartford made moves in 2009, as did large brokers Marsh, Aon, Willis, Gallagher, Brown & Brown, Hub and Wells Fargo. So, too, did, many regional insurers and Main Street agencies....
Business Moves
Dec 6 2009 // USAA Military insurance company USAA is expanding its customer base by nearly 35 million prospects by opening up eligibility for its products to all veterans who have served in the U.S. Armed Forces at any time. More than...
Hub International Acquires Canada’s Mones Insurance Brokers
Nov 9 2009 // Chicago-based insurance broker Hub International Limited has acquired Mones & Associates Insurance Brokers Inc., one of the largest personal and commercial insurance brokers in western and northern Canada with...
Canada to Stop Insurance Sales on Bank Web Sites
Nov 1 2009 // Canada will prohibit major banks from marketing insurance products on their Web sites, marking a major victory for big insurers in a long battle with the banking industry. Canadian Finance Minister Jim Flaherty told...
Ratings Roundup: Misr, Kenya Re, Alliance, Aurigen
Oct 28 2009 // A.M. Best Co. has downgraded the financial strength rating to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating to “bbb+” from “a-” of Egypt’s Misr...
Manulife Buys Pottruff & Smith; Now Canada’s No. 2 Travel Insurer
Oct 16 2009 // Manulife Financial, Canada’s biggest life insurer, announced on Thursday that it has acquired Pottruff & Smith Travel Insurance Brokers Inc. in an all cash deal that will make it Canada’s No. 2 travel...
Best Affirms Ratings for Northbridge (Fairfax) Operating Companies
Oct 16 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Markel Insurance Company of Canada, Federated Insurance Company of...
