Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
S&P: Rising Claims, Competition Squeeze Canadian P/C Insurers
Jun 26 2008 // “Lack of premium growth nationwide and diminished results in the Ontario auto segment restrained results for Canadian property and casualty insurers in the past year,” according to a newly published report from...
Best Announces Rating Actions of 53 Canadian Insurers
Jun 23 2008 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of 30 Canadian P/C companies; upgraded seven FSRs and ICRs; upgraded seven ICRs (with no change to the FSRs); assigned four...
RBC Insurance Signs Agreement with Aon to Expand Business
Jun 11 2008 // Toronto-based RBC Insurance announced that it has signed an agreement with Aon Reed Stenhouse that makes Aon its “exclusive broker for competitive and comprehensive commercial property and casualty and trade credit...
Ratings: Wiener Staedtische, AXA (Canada), Max Capital, Tryggingamidstödin, Aveta, Ansvar, Norwegian Hull
Jun 11 2008 // Standard & Poor’s Ratings Services has affirmed its ‘A-‘ junior subordinated long-term debt rating on the €250 million ($387 million) undated, subordinated notes issued by Austria-based Wiener...
U.S. Court Approves Pet Food Maker’s $24 Million Lawsuit Fund
Jun 2 2008 // Menu Foods Income Fund said Friday that a U.S. court gave preliminary approval to a settlement agreement covering lawsuits in U.S. and Canadian courts. Menu Foods was was hit by more than 100 class action lawsuits last...
PartnerRe Makes Executive Changes in Global (Non-U.S.) Operations
Jun 2 2008 // Bermuda-based PartnerRe has announced the following executive changes in its Global (Non-U.S.) Operations: — Emmanuel Clarke has been named as Head of Specialty Lines, Global, effective Sept. 1, 2008. — He...
Ratings Roundup: Panther Re, Travelers (Canada), Montpelier Re
May 12 2008 // Standard & Poor’s Ratings Services has withdrawn its ‘BBB+’ counterparty credit rating on Panther Re Bermuda Ltd.’s senior secured Term A loan and its ‘BB+’ rating on Panther...
Argo Group Posts $36.9 Million Q1 Net Income; Conference Call Today, Details
May 6 2008 // The Bermuda-based Argo Group International Holdings, Ltd. (which includes the formerly Texas-based Argonaut Group) announced net income of $36.9 million for the first quarter of 2007, a 47 percent rise, while pretax...
Levee Protects Downtown But Flooding Still Severe in Fort Kent, Maine
May 2 2008 // The rain-swollen St. John River crested early Thursday, May 1, after hitting a record high, forcing residents in Fort Kent, Maine to flee to higher ground as more than 100 homes flooded. Rain and melting snow raised the...
Lowery Named to Head Lloyd’s North America
Apr 22 2008 // Lloyd’s announced the appointment of LoriAnn Lowery as its new President, North America. She will report directly to Director, Market Operations and North America Sue Langley, in London. Lowery “will be...
Canadian Researchers Warn of New Arctic Worries
Apr 4 2008 // Canada’s massive Mackenzie Delta is feeling the impact of climate change is faster than expected, which could signal problems elsewhere in the Arctic, a Canadian researcher said Thursday. Melting ocean ice is...
Canada Must Adapt to Climate Impact on Forests
Apr 2 2008 // Canada must prepare for the impact of global warming on its forests, such as increased fires in the west and ice storms in the east, the country’s forest ministers said Tuesday. Canada’s lumber and paper...
Menu Foods Reaches Deal to Settle Pet Food Suits
Apr 1 2008 // Menu Foods Income Fund said Tuesday that it had reached an agreement in principle to settle lawsuits it is facing over its massive recall of contaminated pet food last year. The company said that parties to the so-called...
S&P Takes Rating Actions -‘Mostly Negative’- on U.S. Mortgage Insurers
Feb 15 2008 // Standard & Poor’s Ratings Services has issued a blanket bulletin outlining the rating actions, which it notes are “mostly unfavorable,” on several U.S. mortgage insurers and their core and dependent...
People
Feb 10 2008 // The Nonprofits Insurance Alliance Group in Santa Cruz, Calif., appointed Kim Aday to vice president finance/treasurer. Aday joined the group in 1997 in the position of accountant. In early 2001, she was promoted to...
Canadian Ski Patrol, Insurance Brokers Issue Safety Warning
Feb 1 2008 // In the wake of recent skiing and boarding tragedies, the Canadian Ski Patrol System (CSPS) and the Insurance Brokers Association of Canada (IBAC) are advising Canadians to take precautions when skiing and riding this...
Insurance Bureau of Canada to Newfoundland, Labrador: Remove Insurance Tax
Jan 16 2008 // The Insurance Bureau of Canada (IBC) has repeated its long-standing call to the government of Newfoundland and Labrador to remove taxes on insurance premiums. “The people of Newfoundland & Labrador have the...
Insurance Bureau of Canada Calls for ‘Heightened Cooperation’ on Quakes
Jan 8 2008 // Central Europe isn’t the only place in the world that faces earthquake threats (See related article). The Insurance Bureau of Canada has issued a call for the creation of an ongoing working group between the...
Marsh Reorganizes into U.S./Canada and International; New Executives Named
Jan 3 2008 // Giant insurance broker Marsh announced changes to its global organizational structure as well as several senior management appointments. Marsh said its global insurance broking business will be consolidated into two...
Ratings Recap: Green Valley (Swiss Re), Aviva Canada, CSOB Pojistovna, Harbor Point Re, Hiscox
Dec 27 2007 // Standard & Poor’s Ratings Services has assigned its ‘BB+’ debt ratings to the €200 million ($292 million) Class A Series 1 Principal At-Risk variable-rate notes due Jan. 10, 2011 issued by Green...
