Weekly news roundup: January 5-11, 2012
Manitoba auditor cites problems at MPI; Insurance Institute reveals National Education Week; SSQ Financial appoints senior VP.
January 11, 2012
Company news
Manitoba’s auditor general Carol Bellringer has found continuing problems with public insurance. According to Bellringer, Manitoba Public Insurance (MPI) is not always providing benefits promptly or consistently, and one in four people on provincial boards and commissions are serving with expired terms. She said the government should either formally reappoint people or find replacements more quickly.
Following the announcement of the acquisition of AXA Life Insurance Inc. on September 26, 2011, and the closure of the transaction on January 1, 2012, Rene Hamel, CEO of SSQ Financial Group has announced the appointment of Bernard Tanguay to the position of senior vice president of SSQ Insurance Company Inc. (AXA Life Insurance Inc.) and of the management team.
Larry Ryan, president of Frank Cowan Company of Princeton, Ontario, has announced the opening of a new Cambridge, Ontario branch. This new branch will provide the opportunity for increased product and service innovation as the company develops programs and coverages for niche industries including: Educational Institutions, Children and Youth Organizations, Health and Wellness Organizations, Community Service Organizations, Disability Support Services, Eldercare, and Not-for-Profits.
Ryan Specialty Group (RSG) has acquired Global Special Risks (GSR), a specialty underwriting manager from Willis North America Inc. GSR specializes in providing solutions for energy, marine and specialty product offerings with the London and North American markets. GSR will become part of RSG Underwriting Managers. Willis Capital Markets & Advisory acted as a financial advisor to Willis. Terms of the transaction were not disclosed.
Education and safe driving
The Insurance Institute is staging the fourth annual National Education Week from February 27 to March 2, 2012. The week encompasses a range of special seminars, courses and events held throughout Canada on a variety of relevant and topical industry issues, offering insurance professionals the opportunity to strengthen their professional development and make some new industry connections along the way. Learn more at www.insuranceinstitute.ca/NationalEducationWeek
The Ontario Safety League (OSL) has released the 2011 Operation Red Nose (ORN) Ontario season statistics, which ran from November 25 – December 31, 2011. A total of 18,202 Ontario citizens received a safe ride home. ORN is available in 15 communities across the province, and over 5,874 volunteers generously donated their time to help keep their towns and cities safe during the holidays. In all participating areas, ORN achieved their goal of zero collisions, zero injuries and zero fatalities during their operating hours. A total of 236,001 km was driven, which was an increase of 16% over last year, and ORN collected a staggering $151,227 in donation funds.
The approach adopted by the Toronto Financial Services Alliance (TFSA) to deal with issues of talent mobility was used as a model for others to emulate by the World Economic Forum, and TFSA president Janet Ecker has been invited to Davos, Switzerland, later this month to discuss Toronto’s experience.
With files from The Canadian Press
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