Fairfax Financial Holdings is maintaining its market hedges due to concerns about the global economic outlook and in spite of the recent turnaround in stock and bond prices, the insurer’s founder and chief executive said Friday. Prem Watsa, who made …
Canadian insurers are looking at a bleak quarter of financial results due to a sharp drop in stock markets and bond yields, and analysts are staying cautious on the stocks even at rock-bottom valuations. Sun Life Financial , Canada’s No. …
Toronto-based Fairfax Financial, which raked in billions during the 2008 financial crisis by using market hedges, is once again a go-to stock for shaken investors. Although the company has been criticized by some for its opaqueness and complicated structure, its …
Arch Reinsurance Group has announced its expansion into Treaty reinsurance in Canada with the appointment of Patrick McGuinness to lead Arch Re Canada’s new Treaty operation based in Toronto. He has 35 years of experience in the Canadian reinsurance and …
Northbridge Insurance, which comprises the existing “broker companies” of Lombard, Markel and Commonwealth, is preparing for the combination of the three into a united brand as of January 1st, 2012. In connection with the amalgamation Northbridge announced that Jean-Francois Béliveau …
Climate change will cause damage in Canada equivalent to around 1 percent of GDP in 2050 as rising temperatures kill off forests, flood low-lying areas and cause more illnesses, an official panel said Thursday. The National Round Table on the …
France’s AXA Group announced that it has successfully completed the sale of its Canadian operations in Property & Casualty and Life & Savings insurance to Intact Financial Corporation for a total cash consideration of C$2.6 billion (€1.9 billion; US$2.524 billion). …
Hub International Limited announced that it has entered into a definitive agreement to acquire the operations of Horizon Insurance, LP. , a full service insurance brokerage firm headquartered in Manitoba. The acquisition is expected to close in the third quarter …
A report from A.M. Best concludes that the Canadian insurance industry “continued to improve in 2010, exhibiting strong capitalization and favorable overall profitability, aided by Canada’s relatively strong economic recovery. Although the life insurance industry is on firmer ground, its …
Canada’s Supreme Court will decide Friday whether the federal government should be partly liable for damages, possibly amounting to many billions of dollars, stemming from lawsuits against tobacco firms. The tobacco industry — facing suits from several provinces seeking to …
