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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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Insurance 

All State to support the Old Brewery mission

by Hubert Roy December 7, 2018 09:30 With a donation of $ 10,000, All State will help the organization Mission Old Brewery to renovate the kitchen of his pavillon Patricia Mackenzie, a unit entirely dedicated to women. The insurer supports this non-profit organization for a fourth consecutive year. This renovation project will enable the Mission to better respond to the growing number of women who come knocking at its door, while the recent changes in the level of services offered have created the need for the restructuring of current facilities,…

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Insurance 

Bank Fair launches a line of credit attached to a life insurance policy

by Alain Thériault 6 December 2018 13:30 Mahima Poddar Bank Fair , has just launched a line of credit that is based on the cash surrender value of a whole life insurance with participation of the Great-West Life, London Life and Canada Life. The bank is positioning the product as an alternative to the Canadians of 50 years to fund their retirement. Subsidiary of the Group Fair (no link with Life Insurance Fair), a Bank Equitable announced on its website that the client can borrow up to 90 % of…

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Insurance 

SSQ receives a funding of$ 150 Million of the Fund

by Andrea Lubeck 6 December 2018 11:30 Photo : Freepik SSQ Insurance has been awarded funding in the form of a loan of 150 million us dollars (M$) of the share of the Caisse de dépôt et placement du Québec. The transaction will allow SSQ to “optimize its capital structure and to pursue the implementation of its strategic plan,” says the Fund by way of a press release. The loan also aims to continue the digital transformation of the insurer. “This transaction is part of a process of optimization of…

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Insurance 

Intact gives$ 1 Million to counter the use of child soldiers in Rwanda

by Hubert Roy December 6, 2018 09:30 Charles Brindamour, Romeo Dallaire, Shelly Whitman, and Ishmael Beah | Photo : Greg Kessler Intact financial Corporation will pay $ 1 million to the Roméo Dallaire Child Soldiers Initiative to support the establishment of a regional centre for training and learning in Rwanda. These new funds will help the Initiative Dallaire to maintain a permanent presence in Africa. Focuses on the practice, research and the defence of the rights of children, this centre will serve as a meeting place where people from different…

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Insurance 

Autonomous cars : the TRAY favors the insurance policy single

by Andrea Lubeck 5 December 2018 13:30 Photo : Tesla.com In a report published in November 2018, the insurance Bureau of Canada recommends that the insurance policy sole as well as model insurance for automated vehicles. “The goal of the insurance policy a single is to allow injured persons to receive compensation and to leave the discussion on the product liability insurers and vehicle manufacturers or software providers,” says the IBC. If the technology proves to be the source of the accident, the insurer can ask the third party at…

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