Strategic hire will develop in-depth manufacturing and real estate practice areas in Canadian market
TORONTO, June 29, 2020 /CNW/ — NFP, a leading insurance broker and consultant that provides property and casualty, corporate benefits, retirement and individual solutions, today announced that Patrick Lundy has joined the company’s team in Canada as senior vice president, manufacturing and real estate, effective June 22, 2020.
Lundy brings to NFP more than 24 years of insurance industry experience, including executive and business line leadership across risk advisory, underwriting, brokering, operations and distribution management. He has served as president and CEO of Zurich Canada (2012-2017), and in senior executive roles for AIG and Travelers. Most recently, he led a national industry practice at another brokerage and he currently serves as a board director for Assurant Life of Canada.
In his new role, Lundy will be responsible for developing in-depth practice areas for the manufacturing and real estate industries. He will work with the business development team on growth strategies and opportunities to introduce other financial services into the practice areas. Lundy will report to Mandeep Singh, managing director of business insurance, and will work closely with Daryn McLean, managing director business insurance, on growth initiatives. Lundy will also join the business insurance leadership team.
“We are pleased to welcome Patrick to our team,” McLean said. “NFP continues to invest in people who have expertise and leadership that accelerate growth. Our momentum is strong and adding someone with Patrick’s experience, relationships and market knowledge will be important to our efforts to achieve our goals in manufacturing and real estate.”
About NFP
NFP is a leading insurance broker and consultant providing specialized business and personal insurance, group benefits, retirement and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 750 employees based in Canada, more than 5,600 employees globally, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors and financial institutions. NFP is the 5th largest benefits broker by global revenue (Business Insurance), 10th largest property and casualty agency (Insurance Journal) and 13th largest global insurance broker (Best’s Review).
SOURCE NFP Corp.
For further information: Heather Valle, [email protected], 212 931 6184, https://www.nfp.com
TORONTO – One expert predicts Ottawa‘s changes to mortgage rules will help spur demand among potential homebuyers but says policies aimed at driving new supply are needed to address the “core issues” facing the market.
The federal government’s changes, set to come into force mid-December, include a higher price cap for insured mortgages to allow more people to qualify for a mortgage with less than a 20 per cent down payment.
The government will also expand its 30-year mortgage amortization to include first-time homebuyers buying any type of home, as well as anybody buying a newly built home.
CIBC Capital Markets deputy chief economist Benjamin Tal calls it a “significant” move likely to accelerate the recovery of the housing market, a process already underway as interest rates have begun to fall.
However, he says in a note that policymakers should aim to “prevent that from becoming too much of a good thing” through policies geared toward the supply side.
Tal says the main issue is the lack of supply available to respond to Canada’s rapidly increasing population, particularly in major cities.
This report by The Canadian Press was first published Sept. 17,2024.
OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
