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TORONTO, May 5, 2022- Trisura Group Ltd., a leading specialty insurance provider, today announced financial results for the first quarter of 2022.. David Clare, President and CEO of Trisura, stated, "Our business performed well in the quarter, recording our highest quarterly net income to date of $21.1 million. In Canada, focused underwriting resulted in a 79.5%...
Key Insurance General Manager Tammara Glaves-Hucey. Key Insurance Company Limited, a general insurance provider acquired by the GraceKennedy Financial Group in 2020, has secured a potential buyer for a property it owns in New Kingston. The company, which has been making losses for the past few years, is restructuring operations to regain profitability. The building which it has placed on the market has a carrying value of $ 226.58 million. Key Insurance ended 2020 with net losses of $299.66 million, compared to losses of $267.48 million in 2019. Directors, in a report for the 2020 financial...
/CNW/ - EFH Holdings Inc. ("EFH" or the "Company") (TSXV: EFH) which operates in the property and casualty insurance industry in Canada, today reported net...
In a statement issued by the Superintendent released on July 13, 2020, OSFI signalled a gradual restart of OSFI's policy development work in the fall of 2020. On August 31, 2020, OSFI announced in a series of letters issued to industry that it would unwind certain of the temporary measures put in place at the beginning of the pandemic, including a gradual phaseout of the special capital treatment of loan and insurance premium payment deferrals that was provided to banks and insurers. On December 12, 2020, OSFI announced that the domestic stability buffer would remain at one per cent of total ...
On November 26, 2020, the Office of the Superintendent of Financial Institutions (" OSFI") issued for public comment a draft revised Guideline B-2, Property and Casualty Large Insurance Exposures and Investment Concentration (the " Draft Guideline") which would replace the current Guideline B-2, Investment Concentration Limit for Property and Casualty Insurance Companies (the " Current Guideline"). The significant changes to the Draft Guideline address single large insurance exposures of federally regulated property and casualty insurers (" P&C Insurers"). The Draft Guideline departs from a...