A Canadian law designed to make it easier to bring class action suits against companies that mislead investors has all sides frustrated as it faces its first real-world tests. Changes to the Ontario Securities Act that came into effect in …
Catastrophe risk modeler Eqecat has scheduled July 15 as the date to release three significant revisions to its Worldcatenterprise 3.16 platform. The updates cover Eqecat’s North Atlantic hurricane model, its Canada earthquake model and its Asia typhoon model. These updates …
Chrysotile asbestos will not be listed as a hazardous industrial chemical that can be banned from import after countries including Canada and Ukraine blocked consensus, a United Nations spokesman said on Friday. The decision was taken at a meeting of …
Intact Financial Corp has agreed to buy the Canadian arm of AXA Group for C$2.6 billion ($2.684 billion) in cash in a move that will boost its premiums by more than 40 percent and diversify its product mix. The deal …
Coachman Insurance Co. based in Toronto, Ontario, Canada, has named Bill Breckles its new chief operating officer. Breckles has more than 30 years of experience in the insurance industry, with a background in operations, underwriting, claims, marketing and strategic planning. …
Hub International Limited announced that it has acquired Redcliffe Financial Group, a Vancouver, British Columbia-based employee benefits and life insurance brokerage firm. Terms of the acquisition were not disclosed. Hub said Redcliffe would “become part of the Hub International Insurance …
Manulife Financial said Monday the impact of the earthquake and tsunami in Japan should be less than C$150 million (US$152.93 million), after investors sold the shares off by 3.5 percent on concerns about the insurer’s exposure to the disaster. Manulife, …
Specialist insurer Markel International has appointed Nick James to its specialty division as a class underwriter in US and Canada property treaty reinsurance. He will work alongside Robin Ungless and Nick Hillman in London. James has over 14 years’ experience …
Toronto-based Fairfax Financial Holdings said Thursday it fell to a fourth-quarter loss as its stock and bond portfolios were hurt by rising interest rates and a decision to hedge investments. The Toronto-based property and casualty insurer lost $364.6 million, or …
Australia’s flood-stricken coal industry may be disrupted for months after key rail and road links were washed away, while some infrastructure could take years to repair, authorities said on Friday. The floods have swamped mines in Queensland State, paralyzing operations …
