Industry

Canadian insurers pay millions in weather damage

For the third time in the last four years, Insurance Bureau of Canada (IBC) reports the estimated insured damage caused by severe weather across Canada has topped $1 billion. “The largest of the events in 2012 was the wind, flooding and hail storms that battered Calgary and surrounding areas this past August,” says Heather Mack, […]

By Staff |December 11, 2012

1 min read

Petronas acquires shares of Progress Energy

S&P Canadian Index Services will make the following changes in the S&P/TSX Canadian Indices: The shareholders of Progress Energy Resources Corp. (TSX:PRQ) have voted to accept the terms of an agreement with PETRONAS Canada, whereby the shares of Progress Energy will be acquired for cash consideration of $22.00 per share. Read: Petronas deal blocked by […]

By Staff |December 11, 2012

1 min read

Fiera Capital reaches deal with UBS

Fiera Capital Corporation has reached an agreement to purchase UBS Global Asset Management’s Canadian fixed income, Canadian equity and domestic balanced account business. Read: UBS may reach a LIBOR settlement deal This represents assets under management of approximately $8 billion for a cash consideration of $52 million, subject to certain adjustments. Upon closing of the […]

By Staff |December 11, 2012

1 min read

Little-known facts about travel insurance

With the holiday season upon us people are planning their winter vacations. Many will buy travel insurance, while others assume they are covered by their group insurance plan. But out-of-country group insurance benefits are handled by a third party, not the insurance company supplier. So what happens if:

By Helena Smeenk Pritchard |December 11, 2012

2 min read