The Quebec-based financial cooperative said its caisse network, Desjardins Card Services and, in particular, the Property and Casualty Insurance segment posted strong growth in business volumes
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
Andrew Hollenberg appointed as Country President, ACE Canada; David Brosnan appointed Division President, ACE Canada Property and Casualty and Chief Underwriting Officer
IBC says addition of 7 percent Retail Sales Tax will hurt consumers
Fireman’s Fund has more than 90 dedicated entertainment underwriters, customer service, claims and risk services experts in Burbank, Santa Monica, Dallas, Minneapolis, New York City, London, and now Toronto
RIBO says United Brokers Insurance and Progress Insurance is not licensed to conduct automobile insurance in the province and Ottawa Insurance Broker Service is not licensed for P&C business
P&C insurers must report to OSFI their earthquake exposure by April 15
The company said the P&C, group benefits and mutual funds businesses each has a competitive market position, strong capital generating ability and lower sensitivity to capital markets
“Overall, 2011 was an excellent year and we are taking steps to ensure this success continues despite the challenges of a competitive market and a low interest rate environment,” said Sylvie Paquette
HBSC and its subsidiary Hang Seng Bank are selling its general insurance businesses in Hong Kong, Singapore, Argentina and Mexico for a total of $914 million
“We’re seeing a perfect storm of increased expectations and accessible technology, which means the insurance industry is now facing a more demanding customer than ever before. The choice is clear: suppliers must move toward a more consumer-centric business model, or risk being left behind as clients seek alternatives.”
Natural catastrophe caused claims payouts to U.S. P&C policyholders grew seven-fold as a share of total claims payouts between 1960 and 2010
In the fourth quarter of 2011, the Canadian average initial gross appraisal for comprehensive coverage was $3,351 – $21 lower than in the same quarter a year earlier
Company’s largest shareholder, with 8.4% of shares, says insurer should spin off Life and P&C lines
Property and casualty insurance provider Intact Financial Corp. (TSX:IFC) reported Wednesday a drop in fourth-quarter profit to $84 million from a year-earlier $107 million on charges related to its AXA Canada acquisition
David Wilson, past chair of OSC, and Richard Freeborough, chair of International Order of Foresters, join Economical’s board of directors
Leroux will begin her second and last mandate on March 31, 2012
Many insurers continue to view Canada as a good place to do business, which has continued to fuel competition in the marketplace; however, mergers and reorganizations in the insurance industry could negatively impact available capacity in 2012
