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Insurance 

Natural disasters : the first half of 2019 at a huge cost to insurers

by Charles Mathieu 16 August 2019 13:30 Photo : Freepik Claims have increased in Quebec during the first half due to weather events. It is this that has revealed the insurance Bureau of Canada (IBC), which uses data compiled by CatIQ. The total amount of compensation related to natural disasters and weather events has reached 292 million ($M) in the province. This is an increase of 165 % compared to the first half of 2018. The floods of last spring have cost$ 127 Million, while the abundant precipitation, strong winds…

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Insurance 

Chubb adds protection to their home insurance policy

by Writing August 16, 2019 11:30 Flood waters in Ste-Marie-de-Beauce, Saturday, April 20, 2019 | Photo : Denis Méthot Chubb has launched a new protection for its canadian customers of home insurance. The Warranty for damages caused by surface waters is a complement to the protection provided to holders of home insurance masterpiece. Thus, the water damage, including those caused by the backflow of sewage, the overflow of inland water bodies, whether natural or artificial, mudslides and subsidence of soils on the banks of a body of water, are covered…

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Insurance 

The IFIC is starting the second phase of its study on the disclosure

by Writing August 16, 2019 09:30 Photo : Rawpixel.com Theinvestment funds Institute of Canada (IFIC) continues with the second phase of its research on the disclosure of financial information, exploring the possibility to improve the understanding of investors with respect to information on costs and performance using online, interactive tools. This second step comes within the framework of its research on the effectiveness of the financial disclosure that are directed by Jeremy Burke of theUniversity of Southern California , and Oded Nov of theNew York University. The team has conducted…

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Insurance 

Intact acquires The Warranty

by Andrea Lubeck August 15, 2019 12:30 Charles Brindamour Intact financial Corporation has announced to proceed with the acquisition of The Guarantee Company of North America and Frank Cowan Company Limited of the hands of Princeton Holdings for an amount of one billion canadian dollars. The transaction is expected to close in the fourth quarter of 2019 and is subject to regulatory approvals. Princeton Holdings remains the owner of the companies Cowan Insurance Group, Cowan Asset Management and Fountain Street Finance. Intact argues that the acquisition reinforces its position in…

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Insurance 

Car insurance : premiums vary according to the provinces

by Charles Mathieu 15 August 2019 11:30 Photo : Freepik The insured of British Columbia are paying more for their automobile insurance. This is affirmed by thegeneral insurance statistical Agency (GISA), led by canadian regulators in respect of insurance. Premiums of the province were on average 1 $ 832 2018. Its closest competitor is Ontario, with an average $ 1,505. Quebec is found on its side with the lowest average of all ten canadian provinces, with an average premium of 717 $. It is to be noted that the province…

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Insurance 

Horizons acquires two general agents

by Writing August 15, 2019 09:30 Group financial Horizons announced the acquisition of torce-france Financial Group Inc. and VANCE Financial Group Inc. Horizons has purchased all of the shares of torce-france and VANCE on the 1st of August 2019. The two companies are general agents. Torce-france is located in the Greater Toronto area and VANCE in Vancouver. In total, they work with 1 200 advisors, reveals new Horizons. David Ho, CEO of both companies, will retain his role as chairman of the activities of torce-france and VANCE. Horizons adds that…

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Insurance 

Natural disasters : the reinsurers adapt by changing strategy

by Charles Mathieu 14 August 2019 13:30 The reinsurance industry has adjusted by 2019 to cope with the increase of insured damages related to natural disasters of the past two years. It is this that revealed S&P Global Ratings in its latest report, Global reinsurers aim to rebalance their natural catastrophe exposure. The firm’s rating highlights that the losses related to natural disasters in 2018 have been 50 % higher than anticipated. In addition, the rate of disaster affecting the properties has increased between 15 % and 25 %. Increase…

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Insurance 

Diversico creates a firm to treat its customers family

by Alain Thériault 14 August 2019 11:30 Guy Carignan Diversico Finance human has created financial Group Sphinx, a firm that will allow him to separate the administration of its family clientele of the business. Sphinx will be led by a former agency director, to the success ofiA financial Group, Guy Carignan. Listed as a leading law firm in insurance of persons and group insurance, Sphinx has 55 service call takers and six councillors to this day, revealed the CEO of Diversico, Daniel Guillemette, in interview to the Newspaper of insurance….

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Insurance 

The challenges facing life insurers by 2020

by Writing August 14, 2019 09:30 Photo : Freepik Life insurers are well capitalized and generate a strong operating profit, despite the context of weak performance extended, while the three largest canadian life insurers are benefiting from growth outside of Canada, says the firm’s rating DBRS in an analysis. However, the industry will face challenges over the next year. Life insurers have enjoyed a good momentum in the premium growth, supported mainly by the sector of the benefits and DBRS says expect to see this growth continue in 2019, at…

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Insurance 

Humania extends its reach into a market

by Writing 13 August 2019 13:30 Photo : Freepik Humania Assurance extends its reach in the market of travel insurance by acquiring the assets of the wholesaler in the travel insurance Tour+Med. “This acquisition is a promising synergy gains,” says Stéphane Rochon, president and ceo of Humania Assurance. Our expertise in developing digital, combined with Tour+Med in the field of travel insurance, we will considerably improve our offer of services in both group insurance and individual. “ Stéphane Rochon does not hide its ambition to offer a product of the…

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