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Geoffrey Sullivan appointed as Executive General Adjuster, GTS, Crawford & Company (Canada)
Sullivan will be based in Thunder Bay but will be available to serve clients across Canada
Category: Canadian Insurance
David Horner joins Kernaghan Adjusters
Horner joins firm’s Edmonton office
Mo Kaur joins Premier Marine Insurance Managers Group as Vice President of Operations
Premier Marine Insurance Managers Group has announced that Mo Kaur has joined its executive team as the new Vice President of Operations. Mo’s role will focus on development of strategic initiatives and long-term planning for Premier during this period of remarkable growth for the company. It will include planning and management in underwriting, operational efficiency, [...]
ILS Introduction to General Insurance (ILS IGI), Canada’s newest Level 1 licensing program for the insurance industry, now available in Manitoba
Following its great success in British Columbia, the ILS IGI Program is now available for students throughout Manitoba
Regulators look at MGAs distribution channel in life insurance industry
By ILSTV Staff on May 09, 2012 in Canadian Insurance
The Agencies Regulation Committee (ARC) of the Canadian Council of Insurance Regulators (CCIR) has submitted a position paper for comment
No vote on demutualization at Economical’s Annual General Meeting of Mutual Policyholders
By ILSTV Staff on May 08, 2012 in Canadian Insurance
Insurer awaiting regulations from Department of Finance before it can proceed with demutualization plan
A.M. Best affirms ratings of Co-operators General Insurance Company and affiliates
By ILSTV Staff on May 08, 2012 in Canadian Insurance
Ratings of Co-operators General recognize its strong risk-adjusted capitalization, generally historical profitable operating performance as well as its market leadership position driven by strong brand name recognition, product line and geographic diversification and the effective use of its subsidiaries and multiple channels of distribution
Crawford & Company (Canada) appoints Lori Festarini as GTS Environmental Leader
Reporting to Paul Hancock, national director, GTS, Festarini will work with other adjusters and clients to assist with environmental losses
EGI Financial acquires CUISA Managing General Agency
In a transaction closing May 4, Toronto-based specialty insurer EGI Financial acquired B.C.-based CUISA Managing Agency Corporation (CUISA MGA)
A.M. Best comments on Intact Financial’s proposed acquisition of JEVCO
“Given the close proximity to the recent sizeable acquisition of AXA, A.M. Best believes that execution risk is heightened slightly,” said A.M. Best
Manulife Financial sees 35% growth in insurance sales in Q1
In Canada, insurance sales were up 80 percent
Preparing homes and businesses for an emergency
This Emergency Preparedness Week, insurer RSA is reminding Canadian home and business owners that taking steps now to prepare for an emergency can be the difference between a minor hassle and full-blown disaster
Co-operators General Insurance Company reports increased Q1 net income
A mild winter and “favourable claims results” helped Co-operators General Insurance Company report a consolidated net income of $66.5 million for the first quarter of 2012, compared to $25.8 million for the same quarter in 2011
A.M. Best affirms ratings of Fairfax Financial and most of its operating companies
A.M. Best said the ratings of Fairfax reflect its historical favorable levels of pre-tax operating and net income and the company’s financial leverage and cash coverage levels that are within A.M. Best’s requirements for its rating level
Crawford & Company (Canada) names Global Technical Services leaders
Five adjusters named as leaders within the areas of Commercial Property, Transportation, Environmental, and Media, Entertainment & Contingency
FSCO warns Vilay Salha Insurance Agency Ltd. is not licensed to do insurance business in Ontario
By ILSTV Staff on May 03, 2012 in Canadian Insurance
The Financial Services Commission of Ontario (FSCO) is warning consumers that Vilay Salha Insurance Agency Ltd. is not licensed to do insurance business in Ontario. This company appears to be involved in a fraudulent insurance card scam. If consumers purchase insurance from insurers that are not licensed in the province, they are not protected under the Insurance [...]
Insurance and investment giant Fairfax Financial posts Q1 loss of $1.3M
The company recently doubled its stake in Research In Motion (TSX:RIM) after the BlackBerry maker announced a new chief executive and revamped board of directors. Watsa also took a seat on its board
Intact Financial acquires JEVCO for $530 million
Adjusting for the payment of a $30 million cash dividend paid by JEVCO to Westaim during the first quarter of fiscal 2012, the purchase price is approximately 1.38 times the net book value of JEVCO as at December 31, 2011
Intact Financial reports Q1 increased net income of $179 million
“This was a particularly strong quarter as we continued to reap the benefits from our robust auto and home initiatives and our results were helped by the mild winter weather conditions with a significant decrease in claims frequencies across all of our businesses,” said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation
