Recent Articles
Aon Hewitt identifies Canada’s 50 Best Employers of 2011
The end of last year’s economic downturn appears to have brought employee engagement back to the forefront for many Canadian organizations, according to the 2011 Best Employers studies, conducted by Aon Hewitt, the human capital consulting and outsourcing solutions business of Aon Corporation, in conjunction with the Queen’s University School of Business. As a result, [...]
Prairie farmers collect $155 million in crop hail insurance payouts
Farmers across Alberta, Saskatchewan and Manitoba received $155 million this year, spread over 16,000 claims of hail damage. The Canadian Crop Hail Association said that farmers in Saskatchewan received nearly $103 million in crop hail insurance this year; Alberta producers claimed about $28 million and Manitobans claimed $14.8 million. The Saskatchewan Crop Insurance Corporation said [...]
OSFI releases Estimated Solvency Ratio of federally regulated private pension plans
The Office of the Superintendent of Financial Institutions (OSFI) has released the results of its latest solvency testing of federally regulated, defined benefit, private pension plans. As part of its regular monitoring activities, every six months OSFI estimates the ratio of plan assets to plan liabilities of the 400 defined benefit plans it regulates. The [...]
Kingsway shareholders approve tax benefit preservation plan
Kingsway Financial Services Inc. announced that its shareholders approved a tax benefit preservation plan designed to attempt to protect the value of net operating losses (NOLs) accumulated in the Company’s United States subsidiaries. The Plan is designed to deter acquisitions of common shares that could limit the Company’s ability under US tax laws from using [...]
How to be a good boss – What employees really think of their bosses
Economists have indicated that the Great Recession ended in June 2009 but experts agree that its effects will have a lasting impact on businesses and their workforces for years. One silver lining coming out of the recession, however, is that there seems to be a stronger bond between manager and employee. In fact, 78 percent [...]
Fairfax Financial reports Q3 profit down from year ago on lower investment gains
Fairfax Financial Holdings Ltd. reported a drop in quarterly profit compared with a year ago as the company saw lower investment gains. The insurance and investment management firm, which keeps its books in U.S. dollars, said Thursday it earned US$219 million or $10.24 per diluted share for the quarter ended Sept. 30 compared with a [...]
SGI seeking public input on farm license plates
SGI is seeking public input on Saskatchewan’s farm-class license plate program. “The needs of farmers and farming business have changed dramatically since some of these policies were last reviewed as much as 30 years ago,” said Minister Responsible for SGI Tim McMIllan. “To ensure the farm plate program continues to be relevant, we have asked [...]
New hire to handle “significant portion” of portfolio, Buffett says
Billionaire Warren Buffett renewed speculation about his successor by hiring a new investment manager to handle “a significant portion” of Berkshire Hathaway Inc.’s investment portfolio. Buffett offered few details about Todd Combs in a news release announcing the 39-year-old’s hiring, but the move fits with the succession plan the 80-year-old has outlined for the company [...]
AIG chairman would serve as interim CEO if Robert Benmosche steps down
American International Group Inc. said Wednesday, October 27 that its expects CEO Robert Benmosche to continue to work into 2012, but it was reviewing its succession plan in case his status changes. The company announced Monday, October 25 that Benmosche had cancer and was undergoing chemotherapy. Board chairman Steve Miller would become interim CEO until [...]
Are salaries no longer a taboo topic? Majority of Quebec workers say they discuss pay at work
According to a recent CROP survey conducted for the Ordre des conseillers en ressources humaines agréés, although discussing salaries at work is still taboo, Quebec workers would like to see things change. In fact, a significant percentage of respondents (58%) feel that the ban on talking about salaries should be lifted, with more women (65%) [...]
Fairfax Financial to acquire First Mercury Financial Corporation
Fairfax Financial Holdings Limited has acquired First Mercury Financial Corporation in a deal worth $16.50 per share in cash, representing an aggregate transaction value of approximately $294 million. The price represents a premium of 45.2% to the closing price of First Mercury common stock on October 28, 2010, the day of this announcement, and a [...]
Featured insurance job – November 1 to 5
Looking for: SVP Surety Underwriting in Toronto, Ontario Solid Canadian insurance firm looking to expand their market presence in surety offers this excellent growth opportunity. They have an excellent capital base and A rated paper. Someone with solid agent and broker contacts and well recognized by the reinsurance community is key. You will manage a [...]
One in ten households could be in financial trouble when interest rates rise: TD
A new report from TD Economics warns that one-in-10 Canadian households could find themselves in financial distress when interest rates rise. TD’s chief economist Craig Alexander says personal debt levels have become excessive as Canadians get more accustomed to easy borrowing. And he expects debt levels will continue to increase more rapidly than income growth. [...]
Number of Californians hit by cars jumps 25% on Halloween
As throngs of children and their parents take to the streets for a spooky Halloween, we know to drive carefully and keep an eye out for ghouls and goblins. But according to new research from Allstate, the number of people in California hit by cars jumps 25% on Halloween versus the rest of October. While [...]
Inflation affects life and non-life insurers differently
Recent commodity price spikes and the current easy monetary policy have increased inflation concerns. Many insurers have identified it as one of their key risks. Swiss Re’s latest sigma study “The impact of inflation on insurers” finds that insurers can limit the impact of inflation on investment returns, asset valuations and future insurance liabilities by [...]
Entrepreneurs target revenue growth of 10 percent or more
The Business Development Bank of Canada (BDC) released results of a survey aimed at understanding entrepreneurs’ experience and intentions with regard to investment, innovation and growth. Conducted by Angus Reid Public Opinion, the survey showed that 78% of entrepreneurs think it is important to grow their businesses. Only 6% say it is not. Survey highlights [...]
Black cats are ‘Lucky’ after all
Halloween conjures images of mysterious black cats that cross paths and bring bad luck. According to Petplan pet insurance, however, nothing could be further from the truth. Among the cat population, black cats are the least accident-prone, resulting in the lowest number of pet insurance claims. Based on Petplan’s insurance claims, black cats are 15% [...]
Marsh offers steps to minimize the bite of a bed bug incident
View the video here on your mobile device. Specialists are baffled by their resurgence and no place seems immune as the infestations of the blood sucking little creatures known as bed bugs is on the rise. Just recently it was reported that the United Nations Building in New York City had an infestation, as well [...]
Sun Life sells reinsurance business to Berkshire Hathaway
Sun Life Financial Inc. has sold its life reinsurance business to Berkshire Hathaway Life Co. of Nebraska. Berkshire Hathaway is led by billionaire CEO Warren Buffett. The company is a conglomerate with holdings in insurance, jewelry and apparel. Buffett has previously assumed risks from XL Group and CNA Financial Corp., as well as acquiring more [...]
