Assurant Appoints New President for Canada

News Release:

NEW YORK, 2 January 2020Assurant, Inc. (NYSE: AIZ), a leading global provider of housing and lifestyle solutions that support, protect and connect major consumer purchases, today announced the appointment of Paul Cosgrove as president of its Canadian operations, effective immediately. Cosgrove succeeds Robert “Bob” Zanussi, who, after 16 years with Assurant, is retiring as President and CEO, Canada. Zanussi will remain with the business through January 30, 2020 to ensure a smooth transition.

During his 25-year career at Assurant, Cosgrove has held various leadership roles, with oversight of the Connected Living, Global Auto and Financial Services businesses. During Cosgrove’s tenure, he developed the sales optimization team to support the growth of the mobile business and led the creation of strategic internal organizational offices to better serve client implementations and improve business processes.

Cosgrove, who was previously vice president, business development and client management, will report to Keith Meier, president, International.

“Paul is a highly accomplished leader. His outstanding skills in supporting our client relationships and his vision for growth, both of the business and our people, positions him well for his new role as president, Assurant Canada,” said Keith Meier. “With his deep auto, connected living and financial services experience, he will continue to focus on how we best serve our clients and their customers.”

Commenting on his new role, Paul Cosgrove said, “It’s an exciting time to lead the Canadian business, as we continue to focus on providing excellent service and market-leading products to our clients and their customers.”

“On behalf of everyone at Assurant, we want to thank Bob for everything he has accomplished during his 16 years with the company,” said Meier. “Bob has been instrumental in shaping Assurant Canada into the innovative business that it is today, and the Canadian business is well-positioned for continued business success and growth due to his leadership.”

Meier added, “These changes demonstrate our continued efforts to leverage our exceptional talent to service our clients and further accelerate our strong momentum across our business.”

-Ends-

About Assurant
Assurant, Inc. (NYSE: AIZ) is a leading global provider of housing and lifestyle solutions that support, protect and connect major consumer purchases. Anticipating the evolving needs of consumers, Assurant partners with the world’s leading brands to develop innovative products and services and to deliver an enhanced customer experience. A Fortune 500 company with a presence in 21 countries, Assurant offers mobile device solutions; extended service contracts; vehicle protection services; pre-funded funeral insurance; renters insurance and lender-placed homeowners insurance. The Assurant Foundation strengthens communities by supporting charitable partners that help protect where people live and can thrive, connect with local resources, inspire inclusion and prepare leaders of the future.

Learn more at assurant.com

Nicol Insurance Inc. Purchases Landry Mellow Insurance

December 6, 2019, OWEN SOUND, ON

Nicol Insurance Inc., with offices in Owen Sound, Wiarton, Port Elgin, Kincardine and Flesherton are pleased to announce that they have purchased Landry Mellow Insurance of Orangeville.

Tim Nicol, CEO Nicol Insurance Inc., said, “We’re very excited to bring the Landry & Mellow group into the Nicol family. Their history of building strong customer relationships and their commitment to the surrounding Orangeville communities made Landry & Mellow a natural fit for us. With this acquisition, Nicol Insurance moves closer to our vision of being an industry leader as both a community-minded and client-centric business.”

While steps to align the internal systems and operations will begin immediately, it will not affect current clients of Landry Mellow as it will continue to operate under the Landry Mellow name until it can be seamlessly merged into the Nicol Insurance brand.

Todd Landry of Landry Mellow said, “We are thrilled for what this means for our staff and clients.  With a strong focus on customer service, Nicol Insurance shares many of the same core values that have helped make Landry Mellow Insurance a successful small-town brokerage for the last 40 years. Nicol Insurance will also provide us with more products and expertise to help take the brokerage into the future.”

At this time, there are no plans to make any staffing changes as the merging of the two companies will result in very little overlap of responsibilities.

About Nicol Insurance Inc.

Since 1950, Nicol Insurance, a registered licensed insurance broker with the Registered Insurance Brokers of Ontario, has been helping clients identify their insurance needs and providing the best value in personal and commercial insurance. Today, with offices in Owen Sound, Wiarton, Port Elgin, Kincardine and Flesherton, Nicol Insurance is one of the largest insurance brokers in Grey and Bruce counties.

About Landry Mellow Insurance

Formed in the early ‘80s and incorporated in 1983. Landry Mellow Insurance has strong ties to the Orangeville community and surrounding areas with a solid reputation for having professional, knowledgeable insurance brokers and a reputation that has been earned with over 30 years of solid and reliable service.

Intact announces executive changes and a new appointment

Press Release

Intact Financial Corporation (TSX: IFC) announced changes to the roles and responsibilities of members of the company’s leadership team. The new executive appointments are effective January 1, 2020.

“We are announcing executive changes to build on the experience of our talent and advance on our goals of strengthening our leadership position in Canada and building a leading North American specialty insurer,” said Charles Brindamour, Chief Executive Officer. “These changes will better position our teams to outperform from a combined ratio perspective, expand our specialty solutions in Canada and the U.S. and continue to participate in consolidation.”

Leveraging his wealth of knowledge from previous roles, Pete Weightman will take on a newly created role of Senior Vice President and Chief Underwriting Officer, Specialty Solutions, North America. Pete will focus on achieving Intact’s goal of a sustainable low 90s combined ratio in North American Specialty Solutions. Pete will also assume responsibility for all managing general agent operations for Intact.

Carla Smith will assume the role of Senior Vice President, Specialty Solutions, Canada. Drawing on her strong operational background in claims, direct distribution and broker channels, Carla will focus on growing and expanding Intact’s specialty solutions distribution channel and strengthening relationships with brokers.

Ken Anderson will be promoted to Senior Vice President, Investor Relations & Corporate Development. In his new role, Ken will continue to lead the investor relations team while building on the strong track record of merger and acquisition success that has supported Intact’s growth and outperformance over the past decade.

About Intact Financial Corporation

Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada and a leading provider of specialty insurance in North America, with over $10 billion in total annual premiums. The Company has approximately 14,000 full- and part-time employees who serve more than five million personal, business and public sector clients through offices in Canada and the U.S.

In Canada, Intact distributes insurance under the Intact Insurance brand as well as The Guarantee Company of North America brand, through a wide network of brokers, including its wholly-owned subsidiary BrokerLink, and directly to consumers through belairdirect. Intact also provides specialized insurance programs to public entities through its wholly-owned subsidiary, Frank Cowan Company.

In the U.S., OneBeacon Insurance Group, a wholly-owned subsidiary, provides specialty insurance products through independent agencies, brokers, wholesalers and managing general agencies.

SOURCE Intact Financial Corporation

For further information: Media Inquiries: Hazel Tan, Manager, External Communications, 416 341-1464 ext. 48073, hazel.tan@intact.net; Investor Inquiries: Husayn Hirji, Manager, Investor Relations, 416 341-1464, ext. 45110, husayn.hirji@intact.net

Related Links

www.intactfc.com

Canadian insurance group snags second U.S. F&I company

The excerpted article was written by JACKIE CHARNIGA

Canadian insurance company iA Financial Group will acquire IAS Parent Holdings, a leading provider of finance and insurance products, for $720 million, both companies said last week. The deal is expected to close in the first half of 2020.

The acquisition will further ingrain iA Financial Group in the U.S., as the Quebec City company seeks to capture a larger share of the nation’s $39 billion service contract market. This is iA’s second acquisition of a U.S. F&I product company. It closed on Ohio-based Dealers Assurance Co. in January 2018.

The market for service contracts — sometimes referred to as extended warranty products — is “highly-fragmented,” according to a statement from iA Financial Group CEO Denis Ricard. Opportunities for growth and consolidation are significant, he added.

IAS, of Austin, Texas, is the parent company of F&I vendor Innovative Aftermarket Systems, which sells vehicle warranties and other F&I products and related software to a network of more than 4,300 dealers nationwide. The company employs more than 600 people.

IAS CEO Patrick Brown told Automotive News that the company will continue expanding its dealer network and product offerings under new ownership.

“Over the years, we’ve gone from being just an ancillary provider to a really full-blown, very broad set of products and services that we provide to dealers,” Brown said, noting that the company recently acquired an equity-mining platform. Equity-mining software, also referred to as data-mining software, allows dealerships to sort through proprietary and consumer data to make business decisions.

“We’re really a technology company that just happens to be in the F&I space. A lot of the work that we’re doing is using technology to try to improve either the experience or the throughput at dealership locations and be able to help consumers have a better experience,” he said.

U.S. FOOTPRINT

Publicly traded iA Financial Group reported net income of $183.7 million Canadian in the third quarter, an increase of 11 percent year over year.

Dealers Assurance Co.is roughly half the size of IAS but boasts more dealership partners. It sold half a million F&I products last year, compared with 1.6 million sold by IAS, through more than 5,300 dealership partners, according to a report on the acquisition for iA investors. DAC collected $375 million in F&I product insurance premiums last year, while IAS took in $540 million.

DAC, of Dallas and Albuquerque, N.M., has 152 employees.

iA Financial Group purchased IAS from Genstar Capital, a San Francisco private equity group that has owned a majority share in IAS since 2011.

The acquisition of IAS is subject to obtaining the usual regulatory approvals in Canada and the United States and other conditions. Founded in 1892, iA Financial Group is one of the largest life and health insurance companies in Canada as well as one of the largest F&I providers for auto dealerships in Canada.

Source: https://canada.autonews.com

More Than Half of Tech Leaders in Canada Plan to Expand Teams in 2020

More Than Half of Tech Leaders in Canada Plan to Expand Teams in 2020

Toronto, ON — Technology recruitment in Canada will grow in the first half of the new year, but hiring challenges persist, suggests a new survey from staffing firm Robert Half Technology. According to the latest State of Tech Hiring research from Robert Half, 54 per cent of IT decision makers anticipate expanding their team in the next six months. Almost all (95 per cent) tech leaders surveyed are confident in their company’s prospects for growth in the first half of 2020.

Respondents cited the following technical skills as immediately needed for their organizations:

  1. Cybersecurity
  2. Cloud (computing, security, architecture)
  3. Business intelligence and reporting services
  4. Enterprise Resource Planning (ERP) implementation (Oracle/PeopleSoft, SAP)
  5. DevOps

Nearly all IT managers polled (96 per cent) said they plan to bring on interim professionals. Of those, 60 per cent say hiring consultants is part of their overall hiring strategy and 55 per cent will look to temporary staff if a role becomes vacant and isn’t filled quickly.

View an infographic of national hiring plans.

Below, technology leaders ranked their strategic and staffing priorities for the first half of 2020:

Strategic

Staffing

  1. Maintaining security and safeguarding company information
  1. Training and upskilling current talent
  1. Automating processes to increase productivity and reduce costs
  1. Attracting new talent
  1. Digital transformation projects/initiatives
  1. Retention of my existing team

“Top tech candidates are receiving multiple job offers simultaneously, which means IT leaders need to make quick hiring decisions or risk losing skilled talent to competitors ― an adaptive and efficient process is key,” said Deborah Bottineau, district president of Robert Half Technology. “To avoid prolonged vacancies, managers should consider bringing on project-based tech professionals who can help keep productivity up in the interim and prevent heavier workloads from overwhelming the rest of the team.”

“With the rising need for professionals with cybersecurity, cloud and business intelligence skills, tech leaders need to make sure they’re providing an attractive overall package to skilled applicants,” added Bottineau. “In addition to offering competitive compensation and benefits, fostering a strong organizational culture that promotes professional development goes a long way for companies looking to boost recruitment and retention of in-demand IT workers.”

About the Research 
The online survey was developed by Robert Half Technology and conducted by a leading independent research firm. The biannual report is based on responses from more than 270 IT decision makers in Canada. Respondents were screened to have hiring authority for the information systems or information technology department of a company.

About Robert Half Technology
With more than 100 locations worldwide, Robert Half Technology is a leading provider of technology professionals for initiatives ranging from web development and multiplatform systems integration to network security and technical support. Robert Half Technology offers online job search services at roberthalf.ca/technology. Visitors can also request a copy of the Robert Half Technology 2020 Salary Guide.

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CapriCMW has made a substantial equity investment in Rogers Insurance

Andrew Kemp and Lee Rogers are pleased to announce that CapriCMW has made a substantial equity investment in Rogers Insurance, and is now one of their largest shareholders.

CapriCMW and Rogers Insurance have been working closely together for over 15 years within the Canadian Broker Network (CBN) and this is the next stage of the CBN’s new business plan to achieve scale and additional capabilities by aligning the two companies even more.

Rogers and CapriCMW have many of the qualities we most value in common including:

  • Wide employee share ownership
  • Recognition as top employers
  • Business models that attract and retain talent for the long term
  • Creating customer value through independent employee ownership
  • Achieving significant returns for employee shareholders through organic growth and acquisitions

The partnership brings the two organizations even closer together as they collaborate to achieve scale and deeper relationships with insurers in alignment with the CBN mission – becoming the dominant platform in Canada to precipitate the success of independent brokerages.

“We are very excited to be formalizing this strategic relationship with Rogers Insurance,” said Andrew. “As CBN members, we have been collaborating for years, sharing best practices, resources and expertise to deliver innovative products, services and solutions to our clients across Canada. We believe this alliance is a natural fit, as both companies share a commitment to independence and employee ownership, as well as similar cultures that put our people first. We look forward to working together for many more years.”

“For the 70 employee-shareholders of Rogers Insurance as well as our other employees, our insurer partners and all of our clients, this partnership strengthens our firm in many ways,” said Lee. “We are very proud to be associated with CapriCMW.”

About CapriCMW

CapriCMW is a uniquely independent, locally and employee-owned company with strong roots in BC, created through the merger of CMW and Capri Insurance. With decades of experience and specialized expertise, CapriCMW advisors provide custom insurance and risk management solutions to personal and business clients across BC and Canada. With over 400 professionals in 14 offices, CapriCMW offers a wide range of professional expertise spanning a multitude of industries, products and services.

About Rogers Insurance

Rogers Insurance Ltd. is based in Calgary, AB with nine offices across the country and over 400 employees. One of the largest independent brokerages in Canada, Rogers provides commercial, home and auto, life and benefits, and high net worth insurance services. Rogers is employee-owned and proud to be the most award-winning brokerage in Canada. Rogers is also a member of the Canadian Broker Network (CBN) and Intersure, giving it affiliated offices across Canada, the US, and Mexico.

For inquiries, please contact:

Andrew D. Kemp
President
CapriCMW

akemp@capricmw.ca
604-484-0204

Lee Rogers
President
Rogers Insurance

lrogers@rogersinsurance.ca
403-296-2471

 

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