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Category: Company News

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Merry Christmas! ILScorp is taking a short holiday break:

See holiday hours posted and from all of us at ILScorp have a very Merry Christmas and Happy New Year, everyone!

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Runaway trains and rising personal debt, corporate corruption and infrastructure corrosion

The year in Business: 2013 The business pages weren’t monopolized by corruption and tragedy in 2013, but a lot of the other news wasn’t especially cheery (regardless of what those annoying — and apparently interminable — Economic Action Plan ads suggest).

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What’s New? Protext Mobility Partners with Manitoba Broker to Create DriveAlert-Canada App

Our initial focus will be the public and private sector insurance carriers, auto-dealership groups and independent mobile retail stores throughout Canada. The agreement provides Protext Mobility the ability to leverage the experience and expertise of the insurance broker channel across Canada in partnership with traditional auto-insurers.”

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GEICO Passes Allstate to Become 2d Largest U.S. Auto Insurer: SNL

According to data compiled by SNL, GEICO logged $4.89 billion in direct premiums written during the third quarter of 2013, while Allstate recorded $4.65 billion in premiums.

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Lloyd’s of London names Beale as first female CEO in 325 Years

Beale has 30 years of insurance and reinsurance experience and held the top job at Canopius Group since January 2012.

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Canada Post announced that it will be phasing out their home mail delivery

After providing door-to-door mail delivery to Canadians for more than 140 years, Canada Post announced today that it will be phasing out their home mail delivery. PS/ Postage is going up (85 cents each if you buy a pack – a dollar if you buy a single) & THOUSANDS of jobs will be eliminated.

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Economical accepting electronic signatures for new insurance policies

Effective immediately, Economical Insurance®, Economical Select®, Western General® and Perth Insurance® are accepting electronic signatures on new business applications for personal and commercial insurance policies.

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Aon recognized as 2013 Best Global Insurance Broker by Global Finance Magazine

Aon acknowledged for leadership in innovation and client service

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Economical named Canada’s Best General Insurance Company for 2013 by World Finance magazine

A panel of experienced judges at World Finance subsequently selected Economical as the winner after reviewing responses from each of the four finalists to questions on corporate social responsibility, achievements, delivering on customer expectations, and risk assessment.

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Prem Watsa the face behind $4.7B BlackBerry deal

Six weeks later, the man some call Canada’s Warren Buffett has delivered, beginning a rescue project he once said could take four or five years.

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Ackermann Resigns From Zurich Board After CFO’s Suicide

“The unexpected death of Pierre Wauthier has deeply shocked me,” Ackermann said in a statement today. “I have reasons to believe that the family is of the opinion that I should take my share of responsibility, as unfounded as any allegations might be.”

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Western Financial Group appoints Jeff Burke President & CEO

Western Financial Group’s (Western) Board of Directors announces the appointment of Jeff Burke as President effective September 1. Burke will assume CEO responsibilities on January 1, 2014. This is the first leadership change in Western’s 17-year history.

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Is Fairfax Financial going to take BlackBerry Private?

Hopes of BlackBerry returning to its glory days have all but disappeared as the smartphone company delivered the most damning proof that its new phones are a sales flop by moving forward with a plan that could result in the sale of its operations.

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Hub International Agrees To Be Acquired By Funds Advised By Hellman & Friedman LLC

Hub International Limited (Hub), a leading global insurance brokerage, announced Aug 5, 2013 that it has entered into an agreement to be acquired by funds advised by Hellman & Friedman LLC. The transaction values Hub at approximately US$4.4 billion.

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Economical Insurance helping Canadian Red Cross deliver emergency preparedness training for 11,000 Canadians

New multi-year partnership with commitment of $450,000 over three years.

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Great West announces new CEO for Irish Life as $1.75 billion acquisition closes

Great-West also announced Thursday that the new CEO of Irish Life is Bill Kyle, a 34-year veteran of the Canadian insurance giant.

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RBC Donates $50,000 to Red Cross to Support Oklahoma Tornado Relief Efforts

“RBC is committed to helping residents recover and rebuild from this powerful tornado,” said John Taft, CEO of RBC Wealth Management, U.S. “We are proud to partner with the Red Cross in support of their relief efforts in aiding those affected by this devastating event.”

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Julie Dickson not serving second term as OSFI chief, finishes July 2014

Dickson, who has been widely praised for her no-nonsense approach to bank business practices, had been deputy superintendent and acting superintendent before taking over the top job at the financial regulator.

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Coast Capital Insurance Services Ltd. Joins the Western Financial Group Family

“We’re very proud to be able to bring Coast Capital Insurance Services into our family of companies. It is a tremendous organization that has the same commitment to community as we do,” said Scott Tannas, President and CEO of Western.

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