Anyone here insured with Anthony Clark Insurance?

[Masked Bandit]

http://www.marketwatch.com/story/anthony-clark-international-insurance-brokers-ltd-to-liquidate-and-dissolve-the-corporation-2014-03-13?reflink=MW_news_stmp

They've been bought out by Brokerlink. This isn't a giant surprise as Anthony Clark was already 50% owned by Intact and Intact owns 100% of Brokerlink. Looks like the Intact machine just gets bigger & bigger.

[Dave P]

Insurance Speculation Thread!

My theory is RSA Canada is going to be sold. Noraxis is already on the chopping block.

[Masked Bandit]

Originally posted by Dave P
Insurance Speculation Thread!

My theory is RSA Canada is going to be sold. Noraxis is already on the chopping block.

To who, Aviva? Someone outside the industry? I don't think Intact has the appetite right at the moment and I think they are getting to the point where regulators might start looking sideways at a move like that.

[Speed_69]

Do you guys deal with commercial insurance at all? I use to be in commercial insurance up until about 7 months ago.

Just wondering if you guys are seeing hardening of the market at all or are rates still going for really cheap?

Also, has Dominion becoming part of Travelers Canada had an impact at all?

[Masked Bandit]

Originally posted by Speed_69
Do you guys deal with commercial insurance at all? I use to be in commercial insurance up until about 7 months ago.

Just wondering if you guys are seeing hardening of the market at all or are rates still going for really cheap?

Also, has Dominion becoming part of Travelers Canada had an impact at all?

Dave, over to you!

I don't write much commercial, no change to the marketplace from my end of things. I can't comment on the Dominion / Travelers angle as we don't write with Dominion.

[guessboi]

Dominion / Travelers is great for commercial. Not so much for personal lines.
There is always a rumour about Intact buying out Aviva or RSA for many years now.

[Prail]

RSA is pretty big globally - unless they just sold the Canadian business.

[Dave P]

I think RSA Canada will be sold to a foreign company. Just my feeling. None of the big dogs can take on that much, and none of the small dogs can afford it.

As for the market hardening? Not really. The flood has given us some good ground to charge premium, or get of risk, or limit exposure. But the Brokers just take everything to market and one savage will undercut everyone.

We try and stay out of it, but realty is the segment I think is hardening the fastest. Basically because every realty account is a POS and has claims haha.

As for Travelers/Dominion, I don’t see it changing much. Their appetite changes daily (Well Everyone’s Does I Guess). 1 + 1 = 1

What’s going on with Eco. Calgary and Van offices are only going to be essentially claims departments. All Commercial UW out of Edmonton, Personal and Small Biz out of Ontario. Setting up for a sale Hard.