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Insurance 

Profits of life insurers : China on track to overtake the United States

by Hubert Roy 12 December 2018 09:30 Photo : Freepik What country allows life insurers to generate the most profits ? The United States remains in the lead, but China is coming. This is according to McKinsey & Company in its report entitled, Life Insurers and Annuities State of the Industry in 2018 : the growth imperative. The difference between the two countries is $ 6 billion. “The profits from absolute China are now almost as important as those of the United States in the life insurance industry, powered by…

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Insurance 

3 New Year’s Resolutions for Saving Money on Your Insurance

As the clock strikes midnight on January 1, 2019, thousands of people in Ontario will vow to save more money—one of the most common New Year’s resolutions there is. Along with cutting back on unnecessary expenses, making some simple changes to your insurance could also go a long way in ensuring 2019 is your most profitable year yet. 1. Get rid of insurance you don’t need The new year is the perfect time to review your finances. Take a look at your current insurance and ask

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Insurance 

An ex-president and ex-mp becomes trustee of the Chamber

by Hubert Roy 11 December 2018 11:00 Gilles Ouimet Me Gilles Ouimet is the new trustee of the Chamber of financial security. He began his duties today, learned of the insurance Journal. Me Ouimet holds expertise in disciplinary law and ethics, as well as in the field of economic crime. Over the course of his career, he has successively held the functions of chairman of the Bar of Montreal and the Barreau du Québec. He was also member of provincial parliament for the liberal Party of Quebec, representing the county…

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Insurance 

National insurance scheme drugs : the Canada and Quebec need ?

by Denis Méthot December 11, 2018 10:15 Photo : Freepik Canada likes to boast of his public system of universal health care to Americans, but yet, it is missing a major component to this system : a national system of prescription drug insurance. This is not that we have not thought of. The idea is in the air since the 60’s, it has been taken up by new governments, but to date, none is passed to the act. However, all studies on the health care system in canada over the…

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Insurance 

Three brokers écopent of 295 000 $ fines for false information

by Writing December 11, 2018 09:30 Photo : Freepik The judge Nathalie DuPerron-Roy of the Court of Quebec imposed fines totalling 294 872 $ Ali Solomon Zakzuk, Steve Miller and Monica Nino Tellez to be transmitted, or help to convey false or misleading information to Combined insurance Company of America. The judgment continued to a criminal prosecution brought by thefinancial markets Authority in September 2017. “The judge DuPerron Roy has concluded that the evidence had demonstrated that M. Zakzuk had forwarded to the Combined false insurance claims for clients fictitious,…

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Insurance 

New accounting standards : a major challenge for insurers, according to KPMG

by Hubert Roy December 10, 2018 13:30 Photo : Freepik For the consulting firm KPMG, some disturbances also weigh heavy on the canadian insurers that the arrival of the IFRS 17. The new rules governing the accounting will have impacts on the current process and a direct impact on all the players, including insurers, multinational companies which are established on the canadian market, one can read in the Report 2018 of KPMG on the opportunities and risks in the canadian insurance industry. The firm points out that these changes are…

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Insurance 

Arthur J. Gallagher acquires toronto firm

by Andrea Lubeck 10 December 2018 11:30 Photo : Freepik The u.s. broker Arthur J. Gallagher has completed the acquisition ofAccompass Inc. of Toronto in Ontario. The firm offers consulting services and support in the field of health and social protection, investment and retirement plans, executive compensation and global compensation across canada. The terms of the transaction were not disclosed. Associates Sarah Beech and Mark Dowdell will continue their activities in their current headquarters and will report to Leslie Lemenager, responsible of the international activities of commission and brokerage employee…

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Insurance 

Canadian investors are concerned about climate change

by Writing 10 December, 2018 09:30 Eighty per cent of canadian investors are worried about climate change, reveals a survey from theAssociation for responsible investment (AIR). The opinion Poll of investors of the AIR 2018, which is based on a survey conducted by Ipsos from 800 individual investors in Canada, also outlines that 70 % of them consider climate change as a financial issue which will have negative financial consequences for companies in some sectors over the next five years. For 79 %, this will happen within 20 years. Investment…

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Insurance 

Assumption Life : André Vincent will retire; Sébastien Dupuis will replace it

by Hubert Roy December 7, 2018 13:30 André Vincent, Sébastien Dupuis Assumption Life will have a new CEO as of January 1, 2019. Andre Vincent has announced that he will step down from this function on 31 December. He will then retire on June 30, 2019. He was the CEO since April 2013. For Mr. Vincent, one of his greatest achievements is to have managed the transition to digital of the insurer, a gesture that he describes as essential to position the organization for the future. “I am very proud…

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Insurance 

The outlook for the reinsurance sector has improved, says A.M. Best

by Andrea Lubeck December 7, 2018 11:30 Photo : Freepik The firm’s rating A.M. Best has upgraded the outlook of the reinsurance sector from negative to stable. The stability of the rate environment in reinsurance of damage and the overall stability of the life reinsurance explain this change on the part of the agency. The firm’s rating notes that climate change will continue to be a threat to the industry’s global reinsurance over the next few years, especially for reinsurers who are at risk around the world. A.M. Best reiterates…

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