info suisse - Swiss Canadian Chamber of Commerce

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Publication of the Swiss Canadian Chamber of Commerce Toronto and Montreal
Publication de la Chambre de Commerce Suisse-Canadienne de Toronto et Montréal
June/July Juin/Juillet 2008
FEATURE:
Insurance Industry
Secteur Assurance
www.swissbiz.ca
www.cccsmtl.com
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Publication of the Swiss Canadian Chamber of Commerce Toronto and Montreal
Publication de la Chambre de Commerce Suisse-Canadienne de Toronto et Montréal
FEATURE / REPORTAGE
4
Insurance / Assurance
Report on the status of today’s Insurance and Reinsurance
Industry, condensed by various insurance experts
Reportage sur l’état du secteur assurance et reassurance par
des experts dans cette domaine
BUSINESS AND TRADE NEWS
NOUVELLES ECONOMIQUES
17
Swiss International Airlines
18
Travel News Switzerland
22
Nouvelles tendances en aménagement paysager
23
Business News Switzerland
26
Burning Your Mortgage
26
Swiss Trade Fairs / Foires en Suisse
28
La Suisse a pignon sur rue à Montréal
31
Délégation économique du Canton de Vaud
CHAMBER NEWS
NOUVELLES DE LA CHAMBRE
2
Toronto: President’s Message / Upcoming Events
3
Montréal: Message du Président / Evénéments
20
Member Profile / Profil d’un membre
Arbonne International
32
Welcome New Members
Bienvenu aux nouveaux membres
Photo shows the Canadian head office building of Zurich Insurance in
Toronto and the Lloyd’s world headquarters in London, England.
Illustré sur la photo sont les sièges socials de Zurich Canada à
Toronto et de Lloyd’s à Londres, U.K.
CONTENTS / INDICE
^c[dhj^hhZ
SWISS CANADIAN CHAMBER OF COMMERCE (ONTARIO) INC.
756 Royal York Road • Toronto, Ontario M8Y 2T6
Tel: (416) 236-0039 • Fax: (416) 236-3634 • E-mail: [email protected] • www.swissbiz.ca
BOARD OF DIRECTORS • 2008 – 2009
President
Ernst Notz
2 Hunter Avenue, Toronto, ON M6E 2C8
Tel: (416) 784-2872
E-mail: [email protected]
First Vice-President
Hans Munger
Silent Gliss Canada Ltd., President
181 Amber Street, Markham, ON L3R 3B4
Tel: (905) 470-6901
Fax: (905) 470-6906
E-mail: [email protected]
Second Vice-President
Philipp Gysling
Mesh Innovations Inc., Director
174 Hallam Street, Toronto ON M6H 1X5
Tel: (416) 871-8159
Fax: (801) 681-0986
E-mail: [email protected]
Treasurer
Urs Villiger
RE/MAX WEST REALTY INC.
16 Humbercrest Blvd., Toronto, ON M6S 4K7
Tel: (416) 604 2798
E-mail: [email protected]
Secretary & Legal Counsel
Bernard Lette
Lette Whittaker, Barrister and Solicitor
20 Queen Street West, #3300, P.O. Box 33, Toronto, ON M5H 3R3
Tel: (416) 971-4848
Fax: (416) 971-4849
E-mail: [email protected]
Past President
Stefan Kneubuhler
Kuehne + Nagel Ltd., CFO
5800 Hurontario Street, Fl.12, Mississauga, ON L5R 4B6
Tel: (905) 502-4140
Fax: (905) 501-6665
E-mail: [email protected]
Directors
Rudi Blatter
Lindt & Spruengli (Canada) Inc., CEO
181 University Avenue, Suite 900, Toronto, ON M5H 3M7
Tel: (416) 351-8566
Fax: (416) 351-8507
E-mail: [email protected]
Peter Emmenegger
Business Manager, UC Architect
283 Lisgar Street, Toronto ON M6J 3H1
Tel: (416) 953-2393
Fax: (416) 533-8886
E-mail: [email protected]
Ronnie Miller
Hoffmann-La Roche Ltd., President & CEO
2455 Meadowpine Blvd., Mississauga, ON L5N 6L7
Tel: (905) 542-5522
Fax: (905) 542-5507
Fabian Richenberger
Zurich Canada, Senior Vice President
400 University Avenue, 25th Floor, Toronto, ON M5G 1S7
Tel: (416) 586-2959
Fax: (416) 586-2939
E-mail: [email protected]
Dear Members,
You will immediately have noticed the new look of “info suisse”, I am
sure! We have tried to give our magazine – jointly published with our
colleagues of CCCS in Montreal – a face lift and believe we succeeded
in looking younger and more professional. I hope you will like what
you see. Our Chamber will soon be able to also present to you the
long awaited new website www.swissbiz.ca (unchanged access)
which is presently in the final development stage by our hard working
communication committee and scheduled to be launched in July.
Our info suisse publication and our new website will give our members
an improved forum to promote and explain their businesses and will
feature special editorial articles on different business segments important for the Swiss Canadian
business community.
This issue focuses on general insurance and reinsurance and explains some basics about
insurance, which we hope you will find interesting. Any comments and questions from our
members are most welcome and we encourage a dialogue.
I would like to thank Jean-Jacques Henchoz of Swiss Re for the sponsorship and his presentation
to our members at the National Club. Kuehne + Nagel are great supporters of SCCC and its own
in-house insurance brokerage firm Nacora contributed to this issue. Insurance has the reputation
of being quite boring but – come to think of it – what other trades reunite so many different
professions under one umbrella? SCCC can direct you and support in any field of insurance
through our own members (e.g. Zurich, another great supporter of SCCC).
Our next issues will feature the following industries: transportation, pharmaceutical, food,
tourism, manufacturing, consumer goods and watches; we already invite our members to
contribute to these special features. Please stay tuned!
I hope you are enjoying the nice weather and the outdoor activities, such as biking, playing
tennis, golfing, jogging, walking, etc. which will help us all to be fit for our business tasks and
to look trimmed in our swim wear….By the time you get this issue we already know how our
Swiss soccer stars have done at the Euro 2008 hosted in our home country! SCCC welcomes also
social events and I am sure we had a good time with our joint events with other participating
countries (e.g. the opening game with the Czech Republic on June 7th).
The second half of this year will bring a lot of activities. The Spousal/Partner event on Toronto
Island on June 25th with Swiss wine tasting from La Cote – Vinessence Wine Club and David &
Lynne Durward will finally bring us Swiss wines to Canada! – will be followed by various events
which you will find listed later on. Separate social events will take place at the occasion of the
90th Anniversary of our friends of the Swiss Club to be held on September 27th at the Granite
Club. Please also make a note in your calendars regarding an amazing cultural show called
“Amakhosi” – The Kings of Africa – which is directed by the Swiss Thomas Wehrli (Ottawa,
June 12th to July 6th; Montreal, July 18th to August 17th; and Toronto, September 26th to
November 2nd, 2008). As you can see there is a lot happening….
Most Sincerely,
Heidi Suter
Suter Law, Lawyer
8 Briarcroft Road, Toronto, ON M6S 1H4
Tel: (416) 760-0529
Fax: (416) 769-0529
E-mail: [email protected]
UPCOMING EVENTS
David Turnbull
Canadian Courier & Logistics Association, President & CEO
169 Beechwood Avenue, Willowdale, ON M2L 1J9
Tel: (416) 449-2860
E-mail: [email protected]
June 25
Place:
Time:
Spousal/Partner event & wine tasting
Royal Canadian Yacht Club on Toronto Islands
6:00 pm – 9:00 pm
Honorary Director
Bruno Ryff
Consulate General of Switzerland, Consul General
154 University Avenue, Suite 601, Toronto, ON M5H 3Y9
Tel: (416) 593-5371
Fax: (416) 593-5083
E-mail: [email protected]
August 19
Place:
Time:
Pub Night with the British Chamber
Duke of York Pub
6:00 pm – 9:00 pm
September 15
Place:
Golf Tournament
Meadowbrook Golf & Country Club
October 16
Place:
Guest Speaker:
Luncheon
TBA
Ronnie Miller, CEO Roche
November 15
Place:
Time:
Black Tie Dinner Dance
Le Meridien King Edward Hotel
7:00 pm Cocktails, 8:00 pm Dinner
Liaison Officer Consulate General of Switzerland
Philippe Crevoisier
Consulate General of Switzerland, Consul
154 University Avenue, Suite 601, Toronto, ON M5H 3Y9
Tel: (416) 593-5371
Fax: (416) 593-5083
E-mail: [email protected]
Executive Assistant
Patricia Keller Schläpfer
756 Royal York Road, Toronto, ON M8Y 2T6
Tel: (416) 236-0039
Fax: (416) 236-3634
E-mail: [email protected]
2
Ernst Notz, President
INFO SUISSE
Further Information can be found on www.swissbiz.ca under “Events” or (416) 236-0039
LA CHAMBRE DE COMMERCE CANADO-SUISSE (MONTRÉAL) INC.
SWISS CANADIAN CHAMBER OF COMMERCE (MONTREAL) INC.
1572 Avenue Docteur Penfield, Montréal, Qué. H3G 1C4 • Tél: (514) 937-5822 • Fax: (514) 693-1032 • E-mail: [email protected] • Web site: www.cccsmtl.com
CONSEIL D’ADMINISTRATION / BOARD OF DIRECTORS
2008 – 2009
Président / President
Mr. Jacques Thevenoz
President, Europack
tel: (514) 633-8583
fax: (514) 633-8321
cel: (514) 979-8583
e-mail: [email protected]
Vice-présidents / Vice-Presidents
Me Monica Schirdewahn
Avocate / Lawyer, Lette & Assoc.
tel: (514) 871-3838/213
fax: (514) 876-4217
cel: (514) 909-3119
e-mail: [email protected]
Mr. Michael Stucky
President, Lombard Odier Darier Hentsch
tel: (514) 847-7617
fax: (514) 288-0562
e-mail: [email protected]
Trésorier / Treasurer
Mr. Andreas Kräuchi
Manager Finance & HR Canada, Swiss Int’l Air Lines
tel: (514) 954-5600/6630
fax: (514) 954-5619
e-mail: [email protected]
Président sortant / Past President
Et Secrétaire / and secretary
Mr. Raphaël Delacombaz
UBS Bank (Canada)
tel: (514) 985-8104
fax: (514) 985-8128
e-mail: [email protected]
Directeurs / Directors
Mr. Marc Bolay
Associé, Auberge St. Gabriel
tel: (514) 878-3561/40
fax: (514) 878-4492
e-mail: [email protected]
Mr. Jean Serge Grisé
Conseiller en affaires publiques
tel: (450) 674-2251
e-mail: [email protected]
Me Jean-Marc Ferland
Avocat / Lawyer, Ferland, Marois, Lanctot
tel: (514) 861-1110
fax: (514) 861-1310
e-mail: [email protected]
Mr. Olivier Schlegel
General Manager for Canada, SWISS Int’l Air Lines
tel: (514) 954-5600/6610
fax: (514) 954-5619
e-mail: [email protected]
Mr. Othmar Widmer
Consultation Widmer
tel: (514) 290-4822
E-mail: [email protected]
Mrs. Marianne Wurm
Développement des affaires à l’international /
International Business Development
tel: (514) 996-8790
fax: (514) 499-9547
e-mail: [email protected]
Secrétaire exécutive / Executive Secretary
Birgit Erdan-Klema
tel: (514) 937-5822
fax: (514) 693-1032
e-mail: [email protected]
Liaison au Consulat général de Suisse
M. Claude Duvoisin – Consul général
tel: (514) 932-7181
fax: (514) 932-9028
e-mail: [email protected]
VEUILLEZ NOTER QUE LES ÉTATS FINANCIERS DE LA CCCS
MONTRÉAL SONT DISPONIBLES SUR DEMANDE. COMMUNIQUEZ
AVEC LE (514) 937-5822
FINANCIAL STATEMENTS FOR THE SCCC MONTREAL ARE AVAILABLE
UPON REQUEST. YOU MAY CONTACT (514) 937-5822
Chers Membres,
Ce fut un plaisir de vous voir à l’occasion de notre Assemblée Générale
Annuelle et je remercie tous ceux qui ont participé et formulé leur
intérêt dans les travaux de la Chambre.
Nous sommes d’ores et déjà contents d’avoir commencé à travailler avec
les nouveaux membres du conseil mais tristes du départ de notre second
Vice-Président, Michael Stucky, Président de Lombard Odier Darier
Hentsch. Nous lui souhaitons beaucoup de succès dans la poursuite de
ses études à l’Université de Stanford.
Conformément à notre souhait d’offrir d’avantage d’événements
d’affaires aux membres de la Chambre, nous avons été heureux
d’organiser, avec le Consulat général, une rencontre de réseautage avec la Chambre de commerce du grand Montréal métropolitain, le 31 mars au Café du Monument National du Québec.
De plus, le 28 mai nous avons accueilli une délégation économique dirigé par le Ministre du
Département de l’économie du Canton de Vaud, M. Jean-Claude Mermoud pour un cocktail et
une présentation par DEWS (Développement économique Western Switzerland).
Ces événements ont été appréciés par nos membres et nous avons reçu beaucoup d’avis
favorables de votre part.
Alors que cette édition sera en cours d’impression, nous sommes heureux de mentionner que
grâce au grand nombre d’inscriptions que nous avons déjà reçues, nous nous attendons à un
record de participation à notre tournoi annuel de golf.
Je vous souhaite un merveilleux été et des vacances des plus reposantes et espère vous voir à
nos prochains évènements.
Dear Members,
It was a pleasure to see you during our General Annual Meeting, and I thank those who
attended for their participation and interest in the workings of the Chamber.
We are pleased to have started working already with the new members on the board, however
saddened to see our second Vice-President, Michael Stucky, President of Lombard Odier Darier
Hentsch, leave the board. We wish him much success for his continued studies at
Stanford University.
Following our decision to offer more business-oriented events to the members of the Chamber, we
were pleased to coordinate, with the Swiss Consulate, a joint networking event with the Board of
Trade of Metropolitan Montreal on March 31st, at the Café du Monument National du Québec.
Furthermore, on May 28th, we welcomed an economic delegation headed by M. Jean-Claude
Mermoud, Minister of the Department of Economic Affairs of the Canton of Vaud for a joint
cocktail and presentation by DEWS (Développement économique Western Switzerland).
These events were welcome by our members, and we have received a lot of positive feedback
from you.
At the time this edition will be in print, we are pleased to note that, due to the great number of
registrations we have already received, we will look forward to a great turn-out at our annual
Golf Tournament as well.
I wish you a wonderful summer and relaxing holidays, and look forward to seeing you and our
upcoming events.
Jacques Thevenoz, Président / President
EVÉNÉMENTS / UPCOMING EVENTS
Septembre/
September 2008
Cocktail d’Ouverture de la Saison/
Season Opening Cocktail
15 Octobre/
15 October 2008
Carrefour Europe
Palais des Congres
Novembre/
November 2008
Soirée Fondue Annuelle
Annual Fondue evening
Information et détails/and details : www.cccsmtl.com ou/ or (514) 937-5822
J U N E /J U LY
3
I N S U RA N CE
INTRODUCTION
In our April/May 2008 issue we published
articles on the finance world and focused on
the Banking sector in Canada and Switzerland. An article on Private Banking and an
Investment Outlook for 2008 further highlighted some of the problems the finance
industry is facing today. Both Chambers in
Montreal and in Toronto had guest speakers addressing these manifold issues.
Many banks (including some Swiss)
have reported disastrous results stemming
from the subprime US market. Also some
•••
US insurance companies, e.g. American
International (AIG, the world’s largest
insurer by assets), were hit with related
claims and some have posted the biggest
losses in their history. Some European
insurers (including Zurich Financial Services), however, succeeded to stay away
from those exposures and reported great
year-end results.
These following articles refer to the
Insurance and Reinsurance industry,
mainly focusing on General or Property
and Casualty (P & C) Insurance. They do not
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4
INFO SUISSE
intend to analyze or recommend insurance
coverages but rather give you a short overview of the insurance industries in Canada
and Switzerland.
Canada’s Bank Act outlaws the promotion
of most types of insurance in bank branches,
a law that’s unique in the developed world.
In Switzerland for instance, banks and insurance companies are allowed to sell both
product lines although the life insurance
segment has been more successful than the
general insurance (example CS/Winterthur).
The insurance ban in Canada is among the
few restrictions banks continue to face in
financial services, which is increasingly moving towards one-stop shopping. Banks are
diving deeper into insurance and they hope
within the next five years to demolish the
laws that ban banks from selling most insurance products – including life, health, home
and auto insurance – in a branch.
This following info suisse publication
intends to focus on Insurance and the
various contributions that follow outline
General Direct Insurance and Reinsurance
(i.e. excluding Life and Health Insurance)
matters:
• A brief perspective and history
• Functions of insurance
• Property and Casualty insurance in
Canada and its organization
• How insurance is distributed
• Lloyd’s of London
• The role of Government in the
insurance industry
• The P & C insurance market
in Switzerland
• Reinsurance
GENERAL INSURANCE
A Brief Perspective on General Insurance
(i.e. excluding Life and Health Insurance)
Insurance is all about “risk sharing”. Since
earliest times, people have demonstrated
a willingness to pool their resources to
help others in times of need. Insurance is
nothing other than the formalization of
the basic principle of risk sharing into an
organized facility.
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I N S U RA N CE
History suggests that as early as 5000 BC
some form of insurance existed. Marine
insurance was the first one to be borne. In
September 1666 the birth of fire insurances is
traced to London, England.
Today, there are over 200 general (or
Property and Casualty) insurance companies
(other than life and health) in Canada and
over 100 in Switzerland.
Five Functions of Insurance
a) Spread of Risk
Insurance provides a mechanism in which
the losses of the few are shared among
the many.
Insurance can be viewed as a large pot
into which all insureds place their premiums.
In addition to paying the cost of running the
business, this pot has to provide for payment
of the losses of those who have claims. The
ability to contribute to a fund – to share the
6
INFO SUISSE
losses of the few among the many – is the
major function of insurance.
b) Basis of Credit System
Consumer access to insurance frees up credit.
Like most Canadians, people are using loans
to finance the purchase of their automobiles,
home, and business. The availability of insurance to protect the investments of lenders
helps to facilitate the granting of credit.
c) Eliminates Worry – Encourages
Entrepreneurship
The availability of insurance allows people
to engage in many ventures without having
to set money aside to meet the financial
requirements that may arise from future
losses. By making a small, defined expenditure (the premium) to cover large but uncertain future losses, much of the anxiety and
worry about the unknown future is reduced.
d) Loss Prevention and Loss Reduction
In addition to paying for losses, the insurance industry works hard to prevent them
and to reduce their severity. Active partnerships have been formed with communities
and public officials to deal with important
issues such as road safety, fire prevention,
and anti-theft measures. Other joint projects
have included a nationwide campaign to
fight insurance fraud which is a huge concern for the insurance industry.
e) Source of Employment and
Investment Capital
Insurers are major employers and investors: Canadian insurers employ or contract
services from more than well over 100,000
people (Switzerland 47,000 and 78,000
abroad), including independent brokers,
adjusters, and actuaries. In addition, thousands of people working in a wide range
of trades and professions such as car repair,
INSURANC E
construction, medicine, law, and accounting
derive income from the settlement of insurance claims.
Insurance is big business. Claims total
into the billions of dollars annually. Assets
controlled by insurers amounted to more
than $50 billion and if history is any indication, this amount will double in ten years.
Property and Casualty Insurance in Canada
It involves all types of insurance (other than
life and health) and it includes:
a) Automobile insurance
This is the greatest single class of P & C insurance in Canada with premiums exceeding
those for all other classes combined.
b) Property insurance
Habitational (or Homeowners) and business
properties represent the second largest
source of premiums to insurers.
c) Liability insurance
It provides protection when insureds are
financially responsible for injury or damage
they cause to others. Premiums from liability
insurance represent the third major source
of income to insurers.
Organization of Insurance
Insurance in Canada is distributed by two
distinct types of organizations. These include
private insurance companies and government insurers.
1. Private Insurers
The majority of insurance business in Canada
is transacted by private insurers, the most
common of which are:
1.1. Stock Companies
Most insurance written in Canada today is
provided by stock companies. The money
to operate a stock company may come from
private funds through a public sale of stock.
Ownership rests in the hands of the company’s shareholders whose main purpose is to
derive a profit from their investment.
1.2. Mutual Companies
A mutual company is a corporation owned
by its policyholders. The creation of profit is
not a primary incentive. Instead, the main
goal is to provide policyholders with insurance at as low a cost as possible. When the
company makes money, it is refunded to the
policyholders directly through dividends or
through subsequent rate adjustments.
Stock and mutual companies are generally able to meet the standard insurance
needs of most Canadians.
While most private insurers are licensed
to transact business in all provinces, some
seek to maintain more of a provincial or
regional presence.
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J U N E /J U LY
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INSURANC E
2. Government Insurers
Federal and provincial governments are
involved in providing various insurance
plans, including medical insurance, employment insurance, and workers’ compensation. Governments in British Columbia,
Saskatchewan, Manitoba, and Quebec
provide compulsory automobile insurance
coverages to residents and may, in most of
these provinces, compete directly with private insurers for additional or excess coverages. In Saskatchewan, the government also
competes with private insurers for property
and other classes of insurance.
Act requires that all people who sell insurance be licensed. There is a step licensing
system in place and it is heavily regulated.
Please see the separate article with
an interesting view of an Ontario broker
regarding broker’s view of the Canadian
insurance market.
2. Direct Writing System
Under this system, producers are employees of the insurer and are limited to selling only those products provided by the
insurer. Remuneration may be on either of
a salary or commission basis or combination of salary and bonus. The insurer owns
all of the business written and performs all
administration functions.
State Farm, Allstate, and Cooperators are
examples of direct writers.
3. Lloyd’s of London
Conventional Property and Liability insurers
are able to write insurance for a wide variety
of exposures. Nevertheless, there are still
many submissions which cannot be handled
by them. In such instances, Lloyd’s of Lon-
How Insurance is distributed
Insurers use different methods to sell their
products, including:
1. Independent Agency/
Brokerage System
There are over 7,000 independent agency/
brokerage insurance offices in Canada
employing over 30,000 people. It is estimated that over 80 percent of all property
and casualty insurance is sold through this
system. These offices are also used to distribute compulsory government automobile
insurance in British Columbia, Saskatchewan
and Manitoba.
Brokerage owners are not employees of
insurers and may represent many insurers.
As well, the brokerage owns the business
it produces and is responsible for providing policyholders with a number of client
services. The agency/brokerage system is
paid a commission by the insurers on all
the business it writes. These commissions
are used to pay salaries, rent, postage, and
other operating expenses.
Agents and Brokers are subject to government regulation in one form or another.
The administration of the Insurance Act is
the responsibility of the Superintendent of
Insurance, or the Superintendent of Financial
Institutions (British Columbia), or the Commissioner (Ontario). In Ontario, the Registered Insurance Brokers of Ontario (RIBO)
Act was enacted in 1981. This Act gives
extensive authority to brokers in setting and
enforcing broker standards. The Insurance
•••
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Nous sommes de fins limiers.
Qui dit société prospère, dit souvent société qui sort des sentiers battus
et se singularise. Chez nous, ce petit quelque chose d’inhabituel se
nomme «sixième sens de l’univers de l’assurance». Expliquons-nous.
Pour que nosclients comprennent mieux les risques qui se dissimulent,
nous mettons à leur disposition l’un des plus vastes et des plus
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J U N E /J U LY
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INSURANC E
don has proven to be a valuable insurance
market option.
Lloyd’s of London was established in the
late 17th century to write marine insurance.
It is not an insurance company, and it does
not transact any insurance business itself.
Rather, Lloyd’s Corporation consists of a
group of individuals called underwriters who
assume risks for themselves. Underwriting
membership is open to anyone meeting the
financial requirements of the Committee of
Lloyd’s and all underwriters are liable to the
full extent of their private fortunes to meet
insurance commitments.
As marine insurance became more
complex, more underwriters were required
to subscribe to the risks. This led to the
formation of syndicates which are composed
of underwriting members or names. An
underwriting agent manages the affairs
of each syndicate and appoints an expert
underwriter for each class of business
written. Today, approximately 19,000
members of Lloyd’s make up about 400
syndicates varying in size from a few to
more than 1,000 names.
In Canada, there are several nonunderwriting members who act as broker
intermediaries for various Lloyd’s syndicates.
To place a risk at Lloyd’s, the producer must
provide the broker with the necessary underwriting information, the details of which are
presented by way of a folded sheet of paper
or “slip”. The underwriter commits to a cer-
tain percentage of the total limit of liability
and, when 100 percent of the risk is subscribed, the slip is forwarded to the Policy
Signing Office. All Lloyd’s policies must bear
the embossment of this office.
Commercial Aircraft, satellite risks, hot
air balloons, oil rigs and nuclear power plant
facilities are part of the portfolios of Lloyd’s
underwriters, along with less likely items
such as the voices of opera singers, the legs
of movie stars and the chance that weather
might cancel an entertainment event.
The Role of Government in the Canadian
Insurance Industry
Government regulation of insurance companies is essential for the protection of
Canadian insurance consumers. Insurance
companies are subject to more government control than many other corporations
because of the unique nature of the business. The conduct of the general insurance
industry in Canada is closely supervised and
regulated by federal and provincial statutes.
Many insurers in Canada are federally
licensed. Licensing is provided only to those
companies that can meet the strict financial
standards established by the Office of the
Superintendent of Financial Institutions (OSFI).
These insurers are monitored on an ongoing
basis to ensure their financial stability.
The Superintendent of Insurance in each
province is responsible for administering the
Insurance Act. The main areas of responsibility as they relate to insurers include:
•
Supervising the terms and conditions of
insurance contracts
• Licensing of insurers. All insurers are
required to be licensed in each province
in which they transact business. This rule
applies even when those insurers have
received a federal license.
• Monitoring financial stability of provincially licensed insurers.
Insurance is fiduciary in nature. Insurers
and brokers are both fiduciaries. Consumers
expect that when premiums are paid, they
will be forwarded by the broker to the insurance company. In addition, they expect that
insurers will retain a certain portion of all
premiums collected in order to pay claims.
There are many insurance organizations
and associations, e.g. The Insurance Institute
of Canada (IIC) – mostly dealing with the
professional education, the Insurance Bureau
of Canada (IBC) – in charge of improving
communication with the public and government, the news media and other industry
associations. Other divisions of IBC are
Association of Canadian Insurers, Institute
for Catastrophic Loss Reduction, Canadian
Coalition against Insurance Fraud, Centre for
Study of Insurance Operations (CSIO), Insurers’ Advisory Organization (IAO), Insurance
Brokers’ Association of Canada (IBAC), Canadian Independent Adjusters’ Association
(CIAA), Canadian Insurance Claims Managers
Association and Facility Association dealing
with high and hard to place risks, etc.
J U N E /J U LY
11
I N S U RA N CE
The P & C Insurance Market in Switzerland
The Swiss spend a lot of money on insurance. The Swiss people are the most heavily
insured in the world, although this reflects
social insurance such as health insurance as
well as more commercial types of business.
Some is compulsory – like state pension contributions, pension fund and unemployment
insurance, which are deducted at source
from salaries, and health insurance which
every resident must arrange privately. Of
course, Motor vehicle insurance is compulsory and everybody buys liability insurance
limit of at least CHF 1 million (equivalent in
C$). The system is “at fault” based and is
less complicated than e.g. the Ontario Auto
insurance which is very difficult to understand and could not be more complicated.
The Ontario Auto insurance system is presently under review and debates are heating
up between the Ontario Bar Association and
the insurance carriers.
12
INFO SUISSE
Most houses/buildings in Switzerland
are insured with the cantons (there are a
few exceptions) and tenants are generally
obliged to take out personal liability insurance as a condition of their lease. Overall, an
average Swiss family spends over 20% of its
household budget on insurance. The Swiss
are among the world leaders in expenditure
on private insurance.
Despite this, Swiss insurers now rely
on foreign business for two-thirds of their
premium income. Switzerland is the leading
insurance exporter in Europe. The insurance
sector has been steadily deregulated during
the 1990s. One of the last set of controls
was scrapped in 1996 when the fixed tariff
regime for third-party vehicle insurance was
abolished. As of 1999, Swiss insurance companies numbered over 100.
Switzerland controls an estimated onethird of the world’s reinsurance, and insurance
income represents a major item in the Swiss
balance of payments. Insurance investments
are represented heavily in the Swiss capital
market, and Swiss insurance firms have
invested widely in foreign real estate. About
half of the domestic insurance business is
in the hands of the state. There are several
types of compulsory insurance in Switzerland,
including workers’ compensation, third-party
automobile liability, fire, pension, old age,
unemployment, disability insurance, aircraft,
nuclear power station, etc.
As at the end of 2006 the total Life and
Property & Casualty insurance business in
Switzerland was CHF 49,335 billions (Life CHF
28,072 and Non-Life CHF 21,263 billions). In
addition, over CHF 110 billions were produced abroad. The Swiss private insurance
companies employed 78,000 abroad and
47,000 in Switzerland.
The Swiss Insurance Association (SIA) is
the umbrella organization representing the
private Swiss insurance industry. The SIA’s 80
INSURANC E
members comprise small and large, national
and international primary insurers and reinsurers. SIA is committed to preserving and
promoting a liberal and socially-responsible
competitive market economy, and strive to
maintain conditions that are favourable to
business. They are a reliable and professional
partner for the authorities, the government
and the general public.
The Swiss authorities and the Swiss financial sector have established a framework for
the dialogue on the future direction of Switzerland’s financial centre. FINMA, the Federal
Financial Market Supervisory Authority, is
scheduled to start performing its role in 2008.
The ongoing meetings focus on the adoption
of a joint work schedule and the prioritization
of topics raised by the private sector and the
Confederation. Various working groups were
set up to examine existing and new proposals for measures to improve the conditions
of the financial centre, and implement them
where appropriate. The authorities are repre-
sented by the Swiss National Bank, the Swiss
Federal Banking Commission, the Federal
Office of Private Insurance and the Federal
Tax Administration. The financial sector is
represented by the Swiss Bankers Association, the above mentioned Swiss Insurance
Association, the Swiss Funds Association and
the Swiss Financial Market Services. The goal
of this Swiss Financial Centre Master Plan
is to sustain, strengthen and develop the
international competitiveness of the Swiss
financial sector.
companies dealt solely with reinsurance.
Please see the article that follows, kindly
elaborated by Mr. Jean-Jacques Henchoz,
Market Unit Head of Swiss Re, Toronto.
(The above articles were edited and condensed
by Ernst Notz, President of SCCC. He was former
CEO of The Citadel (now AXA) and is a P & C
broker for NACORA (p.o. Kuehne & Nagel Group).
REINSURANCE
Reinsurance (insurance for insurers), is also
an important service, with much of the business done abroad. The Swiss Reinsurance Co.
in Zurich is the largest of its kind in the world.
As of 1999, about 10% of all Swiss insurance
I will often get a blank stare when I tell
someone I work in reinsurance. Frankly, I do
not blame them, because on the face of it
insurance may seem dull and boring. But the
J U N E /J U LY
13
I N S U RA N CE
time, even dramatically in the last decade or
so. (See Fig. 1) The year 2005 saw several
major hurricanes the likes of which we had
not previously seen; Swiss Re estimates total
natural catastrophe economic losses that
year at USD 230 billion. About one-third was
covered by insurance, so the cost to insurers
and reinsurers was about USD 78 billion.
Property and business interruption losses
(USD billion, at 2006 prices)
Weather-related Nat Cats
Man-made disasters
Earthquake/tsunami
$100
$80
$60
$40
$20
2006
2002
2000
2004
1998
1994
1996
1992
1990
1988
1986
1984
1982
1980
1978
1976
1974
$0
1972
to reinsurers, Canada ranks 5th globally at
about Cdn 2 billion.
Lately, insurance and reinsurance has
been good business. In a sample of 30
major reinsurers worldwide, the combined
ratio was 88%. That means for every dollar
in premium earned, 88 cents was paid out
in claims and related expenses. But that is
not always the story because insurance is
a cyclical business, and as an industry we
are headed into a period of softening pricing
and certain volatility.
Much of our industry’s performance is
predicated on the things that cannot be
controlled. Will the wind blow? Will the
ground shake? We refer to those events as
major catastrophes, and it is no secret we are
living in an age of increasing severity when
it comes to windstorms, earthquakes and
the like. If you observe insured losses from
catastrophes over the last three decades or
so, you will see the numbers increase over
1970
fact is, insurance is a critical foundation of
the economy. Without insurance buildings
do not get built, planes don’t fly, businesses
cannot get a loan. Insurance is there to help
protect assets, everything from property to
professional reputations.
Think of reinsurance as insurance for insurance companies. Because no insurer could
hold all the risk it takes on its balance sheet,
it transfers some of that risk to reinsurers.
Reinsurance is a well-capitalized, well-funded
safety net.
It is just that economic challenge that
led to the founding of Swiss Re in 1863: to
address the need to spread risk. With headquarters in Zurich, Swiss Re is the worldwide
leader in reinsurance. Our company has 90
offices in more than 25 countries and about
10,500 employees worldwide. Swiss Re has
been operating in Canada since 1912 and
is the largest Canadian reinsurer. When you
consider all the insurance premiums ceded
(Fig. 1) Source: Swiss Re, sigma No 2/2007
The forecast is turbulent as well. We are
living in an age characterized by greater
extremes in weather due to climate change.
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14
INFO SUISSE
Special Services
INSURANC E
Couple this with the fact that people are
moving to the coasts and accumulating more
wealth and you have the recipe for a “perfect storm”. More people and more assets
in the path of more severe hurricanes. This
spells the potential for increased losses and
more insurance payouts.
While that prospect may seem daunting,
the insurance industry and the larger financial services community is responding to the
challenge in innovative ways. Swiss Re is
a leader in the development of insurancelinked securities. We take insurance risk,
securitize it and transfer it to the capital
markets. It is another way to spread the risk,
thereby mitigating our financial exposure
to peak events. For Swiss Re, securitization
represents a fundamental transformation of
our traditional business model, from “buy
and hold” to “buy, transform and sell”.
Investors like the diversification because
windstorms and earthquakes are largely
uncorrelated to the rest of their portfolios. By
the end of last year, the volume of capacity
provided by insurance-linked securities had
reached USD 38.7 billion worldwide. Of that
total, USD 16.2 billion was in catastrophe
bonds and the remainder linked to life risks.
I am of the opinion that the insurance
industry is prepared for future scenarios, yet
we welcome the support we receive from
other sectors and rely on adequate public
infrastructure and prevention measures. For
example, Swiss Re applauds the work of
governments in implementing and enforcing stricter building codes and emergency
management protocols.
Earlier I mentioned the cyclicality of insurance markets and the fact that the industry’s
combined ratio (claims and expenses paid to
premiums earned) is expected to increase.
Although last year was a profitable one for
Canada’s non-life insurance industry, it is
increasingly clear that the soft phase of the
cycle is upon us. Net income declined in 2006
and claims eroded underwriting margins. In
addition, the volatile financial markets kept
investment results of insurers in check.
This is nothing new in our industry, as we
have endured many of these cycles before.
At Swiss Re, we are consistent about the risks
we assume – from year to year and cycle to
cycle. Disciplined underwriting sometimes
means declining a submission that does not
meet our requirements – where we would
be unable to collect a premium that is commensurate with the risk we assume.
Swiss Re has a rich history of 150 years,
and it is our desire to remain in business for
another 150 years and to be there for our
clients, to protect assets in times of crisis. To
do that, we must underwrite to bottom-line
performance, not to the top-line. Our clients
demand it, our shareholders demand it, and
we demand it of ourselves.
A word or two about the subprime crisis.
The insurance industry is preparing to face
increasing claims on Directors & Officers policies, as financial institutions and their executives come under fire from shareholders. A
recent survey finds that sub-prime related
litigation could cost D&O insurers USD 3.6
billion. The subprime crisis also means the
cost of capital is higher because as share
prices declined, the costs of gaining access to
the equity markets have increased. As credit
spreads continue to widen, the costs of debt
funding have increased.
So what does the future hold for non-life
insurance in Canada? Over time we have
observed that more insurance premium is
concentrated in fewer companies. The top
15 companies now account for 70% of total
premium. While the strong get stronger, the
challenges become greater. The frequency
and severity of catastrophes, one of the
key drivers of our industry’s performance,
are becoming more and more pronounced.
Still, Canada is a good bet for reinsurers, the
providers of ultimate, top-layer protection to
insurance companies. Significant reinsurance
capacity is available to the Canadian market.
What is more, investors are starting to get
a taste of the attractiveness of securitized
insurance risk from Canada – e.g. catastrophe bonds.
When I go to work each morning, I am
energized by the fact that an adventure lies
before me. I cannot predict exactly what I
will confront. Some things are within my
control and other things are not. Who says
insurance is boring?
J U N E /J U LY
15
I N S U RA N CE
LARGER INSURANCE BROKERS –
WHAT DOES IT MEAN?
In Canada, circa 1980, the average size of
a property/casualty insurance brokerage
firm was 3½ people. It’s hard to believe,
but most insurance agencies, of that era,
were very small and the owners were
also typically the ones doing the selling
and servicing of client accounts. Only in
the larger centers would one find bigger
firms; those with the time and manpower
to handle large national and international
accounts. Compensation in the insurance
business (often discussed, but essentially
unchanged) continues to consist, primarily,
of 3 components.
There is a standard commission scale,
based on the type of insurance sold, and
this standard is quite universal across Canada. This is received, by the brokerage firm,
for the servicing of the client. Typically, less
than half of that is passed on to the actual
salesperson who maintains the regular
client contact. In addition, the insurance
brokerage firm may be able to negotiate
other special compensation based on such
things as larger business volume delivered
to the insurer, or perhaps in respect of
special programs which require the broker
to play a larger role in the delivery of insurance to the end user. Lastly, insurers will
often pay the brokerage firm an annual
bonus, which is derived from a profit formula applied to the business written by
that firm. The careful selection of good
clients with a solid record of low claims
levels is justifiably rewarded. Less used,
but still seen at times, are give away trips
and other prizes.
In the “old” days, these typical sources
of income were actually paid to the benefit
of the sales people, who also happened
to be the owners of the brokerage firm.
This made it easy for insurers to maintain
very close business relationships with
their sales people. It also made for good
customer service and the sales effort was
well rewarded.
The world of consolidation has changed
all that. The radical reduction in small bro16
INFO SUISSE
kerages has changed the sales and service
part of the business noticeably. Many of
the smaller brokerage firms, having been
swallowed up by larger firms or “consolidators”, no longer have the sales person as
an owner. In fact, the Canadian property/
casualty market is populated with insurance broker networks (whose growth has
been financed by institutional investors,
some of whose stock can be bought on
public markets) as well as larger consolidations which have been financed by big
corporations and (are you sitting down?)
actual insurance companies. About a dozen
property/casualty insurers, in Canada, are
currently active owners of brokerages that
publicly promote themselves as licensed
and “independent”.
This development has resulted in the
fact that the sales force, which handles the
client’s insurance needs, no longer receives
the benefits of multiple income streams.
While they look after their clients on a
daily basis, for a portion of the commission, the administrators and institutional
owners receive the benefits of overrides
and bonuses. Smaller insurance companies, doing business with these larger brokerage firms, will find that the overrides
and bonuses flow, not to the sales people
whose support they very much need, but
to the institutional owners, or even to one
of their insurance company competitors.
For the pressured sales person the
going can get a bit rough. It’s tough to be
objective when there’s only a commission
portion to be earned. For the astute insurance buyer, however, there is a much more
important question… …how independent
is your broker’s advice? We’ve often heard
stories of insurance companies insisting
that their wholly owned insurance broker
operations place much of the available
business with “head office”. For the insurance consumer, as with the selection of
any professional service, the need to select
your advisor carefully is a very important
part of making wise choices.
■
By Andreas Schwartze, MBA, CIP,
Nacora Insurance Brokers Ltd.
NOUVELL E S ECO N OM I Q U E S
SWISS DE NOUVEAU EN TÊTE AU CLASSEMENT DES COMPAGNIES AÉRIENNES
Le sondage lecteurs du magazine allemand
Capital visant à déterminer la « Compagnie
aérienne de l’année 2008 » vient de placer
Swiss International Air Lines première ex
æquo avec Austrian Airlines et Lufthansa
au classement traditionnel des compagnies
desservant les lignes européennes. SWISS
détient par ailleurs avec Lufthansa la 6e place
pour ses dessertes intercontinentales.
« Les lecteurs de Capital ont rendu
hommage à ce que nous considérons être
notre capital : la ponctualité et un service
personnalisé », déclare avec satisfaction
Olivier Schlegel, directeur général de SWISS
au Canada. « Nous souhaitons que nos vols
soient encore plus agréables pour les passagers. Aussi réalisons-nous des investissements permanents dans notre produit en
accordant une grande importance à la qualité
et aux détails », poursuit Olivier Schlegel.
Le sondage annuel de « Capital » invite
les lecteurs du magazine à évaluer en ligne
les prestations des compagnies aériennes.
C’est sa 22e édition.
Les résultats portent sur l’analyse de près
de 17 000 vols effectués par plus de 1 000
grands voyageurs, en fonction de six catégories : le rapport qualité/prix, l’impression
de sécurité, le service, le confort des sièges,
la restauration à bord et la ponctualité. Le
détail des évaluations est publié dans le
dernier numéro du magazine et sur son site
Internet www.capital.de.
SWISS renforce continuellement sa position de compagnie de qualité. Début avril,
elle a notamment achevé le renouvellement
des sièges des 52 avions composant sa flotte
européenne. Les passagers de SWISS bénéficient désormais sur tous les vols européens
de nouveaux fauteuils très confortables et
de plus d’espace pour les jambes.
SWISS investit également dans son
produit au sol. Par l’ouverture de la nouvelle
« Business Class Lounge » de Genève, SWISS
a lancé en mai 2007 un concept à trois
classes pour ses salons aéroportuaires. À
Zurich, comme c’est déjà le cas à Genève,
les passagers disposeront prochainement
de nouveaux salons « Business Class » et
« Senator ». Le salon « First Class » a déjà
ouvert ses portes en décembre dernier.
Les nouveaux salons aéroportuaires
ont été conçus dans un esprit typiquement « SWISS », conformément à la charte
graphique et à l’identité visuelle de la
compagnie. La modernisation et l’extension
des salons aéroportuaires s’achèveront par
l’inauguration du salon Business Class de
Zurich avant le coup d’envoi du Championnat
d’Europe de football 2008.
■
Switzerland is a small
country. Less than one hour,
and you’re off.
–
SHORTCUTS, SWISS MADE.
–
Short walking distances and perfectly harmonised flight schedules mean that nowhere in Europe is it quicker and easier to change from one plane
to the next than in Zurich. It’s almost a shame that you don’t have more time to enjoy the airport itself, which was awarded the «World Travel Award
2006». For information and reservations, call 1-877-FLY-SWISS or contact your travel agent. Visit SWISS.COM to find out more about all the things
we do to make each and every flight as comfortable as possible for our guests.
SWISS.COM
055_300_HUB_191.77x127_InfoSuiss1 1
20.3.2007 J U14:36:49
Uhr
N E /J U LY
17
T R AV EL N EWS
INAUGURATION OF THE SWITZERLANDMOBILITY ROUTE NETWORK:
A WORLD FIRST
The SwitzerlandMobility Foundation (successor to “Cycling in Switzerland”) and Switzerland Tourism (ST) launched on April 27 in
Murten, Fribourg region, the largest national
network of non-motorized transport routes
ever created. Nearly 20,000 km of itineraries
through the whole of Switzerland open up
unlimited opportunities for active holidays.
The routes for hikers (6,300 km), touring
cyclists (8,500 km), mountainbikers (3,300
km), inline skaters (1,000 km) and canoeists (410 km), all marked with standardized
signposting, offer tremendous scenic variety.
A range of services is available along the
routes, including accommodation, luggage
transportation, sports equipment rental and
discounted travel on public transport.
The choice of Murten for the inauguration
today of the SwitzerlandMobility network is
significant. This was the location selected for
the “Human Powered Mobility” pilot project
during Expo.02; in addition, Lake Murten is
the setting for the first of this year’s slowUp
events – festivals of non-motorized transport.
Already since 1998 Switzerland has been
a paradise for cyclists, thanks to the routes
of the “Cycling in Switzerland” project. The
new network additionally incorporates
itineraries for hikers, mountainbikers, inline
skaters and canoeists – around 20,000 km
PROMOTING ACTIVE HOLIDAYS AND
NON-MOTORIZED TRANSPORT
of routes in all, throughout the whole of
Switzerland. Marking the way are more than
100,000 signposts, with a different colour for
each activity: green for hiking, pale blue for
cycling, ochre for mountainbiking, violet for
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INFO SUISSE
inline skating, and turquoise for canoeing.
Full details of the itineraries appear in 57
printed route guides published in German,
French and English; an additional guidebook
lists all the accommodation options along
the routes.
The SwitzerlandMobility route network is a
joint project by public- and private-sector
partners. It is supported by all 26 Swiss
cantons, eight federal agencies and the Principality of Liechtenstein, as well as numerous organizations in the fields of transport,
tourism and sport. “SwitzerlandMobility is
one of the most important tourism projects
in Switzerland of the past fifty years,” said
Jürg Schmid, Director of Switzerland Tourism, on the occasion of the official opening
of the SwitzerlandMobility network today
in Murten. “With SwitzerlandMobility,
Switzerland has an exceptional product
that makes the most of the country’s finest
tourist assets: the unique beauty and variety
of its natural landscapes, the quality of the
accommodation and the superb public transport network. Switzerland is the ultimate
paradise for active, environmentally-friendly
leisure pursuits.”
AN UNRIVALLED TOURIST PRODUCT
The SwitzerlandMobility network also incorporates a comprehensive range of facilities
and services, including 1,100 establishments
along the routes offering a range of accommodation from hotel rooms equipped with
every comfort to beds of straw on farms. At
locations throughout the country, bicycles
and mountainbikes – and, on some itineraries, electric FLYER bikes – are available
for hire.
The SwitzerlandMobility routes are accessible from more than 18,000 different stops
on the public transport network. In addition,
more than 100 package deals are available,
often with luggage transport included.
ENCOURAGING PROSPECTS
The SwitzerlandMobility Foundation estimates that day trips on routes of the “Cycling
T RAVEL NE W S
in Switzerland” network generated a tourist
income of 155 million Swiss francs in 2007.
“From 2008, we are reckoning on an income
of 300 to 500 million Swiss francs per year,”
said George M. Ganz, President of the Foundation. “SwitzerlandMobility adds to what
Switzerland has to offer in summer, and
will encourage the development of tourist
services along the route. SwitzerlandMobility is also an exceptional asset for attracting
guests from abroad who are seeking active
holidays close to nature.”
Create your route on www.switzerlandmobility.ch – book packages on
www.swisstrails.ch
Whether you prefer a gentle ride on a bike
along the shores of some of Switzerland’s
most beautiful lakes or the adrenaline kick
of a fast mountainbike descent, whether you
dream of walking in the footsteps of pilgrims
along the celebrated Via Jacobi, gliding on
inline skates along the banks of the Rhine
or floating down the river Aare in a canoe
– you can create your ideal itinerary with just
a few clicks on www.switzerlandmobility.ch.
The exceptionally user-friendly website is
the result of close collaboration between the
SwitzerlandMobility Foundation, Switzerland
Tourism, and the rail operator SBB. As you
use your mouse to move your pointer over
the interactive maps for the five categories
of routes, information appears on rail connections, rental locations and accommodation options. As you proceed on your virtual
with Austria) this huge event from June 7
– 29, 2008.
During this tournament, where the top
16 national teams from Europe compete,
emotions and euphoria are guaranteed. Up
to 5.4 million fans are expected to follow the
games in Switzerland, including 1.4 million
visitors from abroad. During the month of
June, the European soccer heart will be the
beat of Switzerland.
The EURO 2008 is a unique opportunity
for Switzerland to present itself to millions
of soccer fans and the rest of the world. With
many additional tourist attractions, visitors
may well be tempted to stay longer. Switzerland is a modern, high-performing and
open-minded country with authentic roots,
a unique natural environment and a place to
do successful business. Come and experience
our friendliness, hospitality, and especially
join the biggest festivity of the decade!
Guests and locals will party in the streets,
and at the official fan festivals organized by
the host cities for free. The idea to enable
people without tickets to see the games
live on giant screens (“public viewing”),
proved to be a hit during last World Cup in
Germany. This is one of many highlights on
how to enjoy the party atmosphere during
the event. For more information about the
EURO 08 and Switzerland, please visit:
www.switzerland.com /
www.myswitzerland.com
■
journey, you will also find information on the
history, sights and attractions of stops along
the route. The website is set up in English
as well as German, French and Italian. Packages for all the national routes, as well as
“Swiss Trails à la carte” trips, can be booked
online at www.swisstrails.ch.
COMMITMENT FROM ALL THE SWISS
TOURISM REGIONS
Development and operation of the SwitzerlandMobility product is the responsibility of
the SwitzerlandMobility group, which brings
together all of the Swiss tourism regions as
well as various private organizations including Switzerland Tourism (promotion of SwitzerlandMobility in Switzerland and abroad)
and Swiss Trails (operation of the package
holiday business).
“GET READY FOR SWITZERLAND’S
BIGGEST KICK-OFF SINCE 1954!”
2008 UEFA EURO 2008™ is by far the biggest sporting event ever to take place in
Switzerland. This will be the second time
for Switzerland to be hosting a major soccer
tournament since the World Cup in 1954. The
four cities Bern, Zurich, Geneva and Basel are
hosting 15 of the 31 EURO 2008 matches.
Expect emotions from June 7 to 29.
The games will be broadcast in 170
countries with an expected combined total
of eight billion TV viewers for all matches.
Switzerland will be hosting (together
Provided by Switzerland Tourism
Seit über 20 Jahren in Ontario zugelassener, deutschsprechender Anwalt
und Notar bietet Ihnen persönliche Betreuung und fachliche Kompetenz.
ALEXANDER SENNECKE
BALDWIN ANKA SENNECKE HALMAN LLP
BARRISTERS & SOLICITORS
Helping you
make the Right
Moves
Victoria Tower
25 Adelaide Street East
Suite 900
Toronto, Ontario M5C 3A1
www.bashllp.com
Direct:
416.410.2113
Facsimile:
416.410.9423
Cell:
416.816.2113
Handy:
+49.171.713.4423
[email protected]
Für weitere Fragen stehe ich gerne zur Verfügung.
J U N E /J U LY
19
MEMBER PROFILE
ARBONNE INTERNATIONAL
THE POWER OF CHOICE:
BUSINESS IS BOOMING IN THE DIRECT
SELLING INDUSTRY
Why Swiss formulated skin care products
are leading the way.
by Sylvia Mayer
Arbonne Independent Consultant,
District Manager
Why are so many people leaving corporate
America to start home-based businesses?
There were 2.7 million Canadians representing a Direct Selling company in total in
2006. They generated sales of 1.96 billion
in 2006.
The new global leaders are forward
thinking business entrepreneurs whom have
embraced direct selling. Sir Richard Branson,
founder of Virgin Records and Virgin Atlantic
Airways also owns Virgin Cosmetics Company,
one of the leading cosmetics companies
in the United Kingdom and a direct selling
company. Time Warner and Citigroup have
also launched direct selling companies.
Arbonne International is the largest and
fastest growing network marketing company in the Direct Selling Association with
growth of over 40% in Canada in 2006 alone.
Success from Home Magazine published
an entire issue on Arbonne in 2006 and
recently Empowering Women Magazine
20
INFO SUISSE
has dedicated an issue to Arbonne (June
2008 issue).
Arbonne International CEO Bob Henry
won the prestigious Ernst and Young Entrepreneur of the Year Award in 2006, recognizing an individual’s contribution to economic
growth, innovation and cutting edge products and services. Arbonne International
also won an award from the Direct Sellers
Association in 2007 for the best web-based
training program.
Arbonne has a 30-year history of providing Swiss formulated skin care products that
are unsurpassed in quality and effectiveness. The Swiss company, founded in 1975
by Petter Morck and a team of biochemists,
biologists and herbalists expanded into the
United States in 1980 and from there became
Arbonne International. The botanical principals behind Arbonne International have now
grown to encompass more than 450 inner
and outer body, skin care, colour, nutrition,
weight loss and aromatherapy products.
Arbonne’s proprietary formulas are a
blending of science and nature based on
herbal and botanical principles. These innovative and results-oriented products are
hypoallergenic, dermatologist tested and
formulated without mineral oils, dyes or
chemical fragrances.
Master formulators use cutting edge
technologies and the latest advances in
skin care science to research and develop
Arbonne’s exclusive skin care products at the
Arbonne Institute of Research and Development, a research development facility,
located in Switzerland. Pierre Bottiglieri,
a renowned scientist with over 35 years
experience formulating products for several
Swiss-international products, coordinates
the development of Arbonne’s proprietary
skin care formulas at AIRD. As a member
of the Swiss Society of Cosmetic Chemists
since 1972, and having played key roles in
the IFSCC (International Federation of Swiss
Cosmetic Chemists) since that time, Pierre
brings his own experience and the best
minds in the business to create pure, safe
and beneficial products.
Arbonne …. Good things from the earth!
Preserving the planet’s natural resources is
an important part of the Arbonne philosophy. Long before regulations required the
recycling of materials and eco-conscious
manufacturing, Arbonne led the way by
being a proponent of recyclable packaging, no testing on animals and a strict
policy against the incorporation of animal
products or bi-products in their botanically
based formulas.
MEMBER PROFILE
ARBONNE INTERNATIONAL
Their professional line of products are
represented by plastic surgeons, dermatologists, chiropractors, licensed massage therapists, aestheticians, and professional make
up artists
The world steps aside for those who know
where they are going.
For
Independent
Consultant/Canadian
National Vice President Karen Skeels,
Arbonne is not just a job or career, but a
way of life. “On February 28, 2005, Karen
was promoted to District Manager. One year
later, in February of 2006, we became a
Nation,” Karen Skeels said. “This is one job
where you can set your hours and have the
potential to get a promotion in 12 months
that can change your life, both personally
and financially.”
“Arbonne is empowering. Everyone has
different strengths and people join your
team because they have something to offer
the team,” Karen Skeels said. “When you
love what you do, you attract successful
people to your business. The key to success is simple: WHY? Everyone will have
one desire that is stronger than their desire
to quit. Show everyone that their Why is
significant because this can make or break
someone’s business.”
The philosophy of serving others is woven
throughout the company. Arbonne’s giving
culture is fundamental to its success. CEO
Bob Henry’s mission is to offer an entrepreneurial opportunity that allows consultants
to succeed in business and in life.
Excellence is the result of caring more
than others think is wise; risking more
than others think is safe; dreaming more
than others think is practical and expecting
more than others think is possible.
■
Editor’s Note:
Sylvia Mayer will be present at the June 25th
Spousal Event at the Royal Canadian Yacht Club
to share the Arbonne experience with Swiss
Chamber members, donating a portion of their
sales during this event to the Scholarship Fund.
J U N E /J U LY
21
N O U V E LLES ECO N OMI Q UES
LES NOUVELLES TENDANCES EN
AMÉNAGEMENT PAYSAGER
Par Patrick Edelmann, Création de
jardins Edelweiss
De nos jours la création et la réalisation
d’aménagements paysagers n’est plus
seulement une question d’esthétique. Un
jardin se doit d’être pensé et conçu pour
bien servir ses propriétaires et usagers.
On prend d’abord le temps de bien saisir
leurs besoins et leurs attentes face à leur
aménagement : quels en seront l’utilisation,
le degré d’intimité, l’ensoleillement, le style
de végétaux à privilégier, l’équipement et
le mobilier de jardin à y intégrer? Doit-on
tenir compte de la sécurité des enfants ou
des aînés? Existe-t-il des besoins particuliers
pour les animaux?
Ensuite, on tâche de préserver les acquis,
par exemple lorsque des plantes et des
arbres de valeurs s’y trouvent déjà ou encore,
des dénivellations qui pourraient être mises
à profit. On crée aussi l’aménagement en
ayant en tête sa longévité : qu’il mature en
beauté et permettent aux propriétaires d’en
profiter pour encore de nombreuses années.
Puis, il y a la facilité d’entretien qui devient
un facteur primordial. La vie d’aujourd’hui ne
nous accorde pas toujours le loisir de passer
des heures à entretenir un jardin. Un bon
architecte de paysage en tient compte dans
le choix des plantes et recouvrements qu’il
y suggère.
Une fois réalisé, le jardin devient un lieu
de recueillement et de rencontre. Il se doit
d’être bien organisé tant pour s’offrir un
Neuchâtel.
Next September.
moment de détente bien à soi que pour y
accueillir famille, amis.
La création et la réalisation d’un jardin
est un investissement à long terme qu’il
importe de bien préparer. Une bonne planification peut représenter des économies en
tenant compte des besoins des occupants,
en profitant des acquis et en s’assurant de sa
longévité et de son peu d’entretien. Investissement aussi parce qu’un aménagement
bien pensé et exécuté augmente la valeur
de la propriété et peut même devenir un lieu
propice à la réalisation d’affaires lorsqu’on y
accueille les clients!
L’équipe d’Edelweiss est formée de professionnels qui se dédient à la conception et
à la réalisation de jardins exclusifs et personnalisés pour chaque client, en fonction de
leurs goûts et besoins, tout en leur faisant
profiter de ses connaissances en design,
techniques de sols, matériaux et végétaux.
Création de jardins Edelweiss… pour faire
fleurir vos rêves!
■
• Learn in English. Live in French.
• Live in a Swiss university town.
• Earn Ontario Grade 12 & AP credits.
• Benefit from a focused 90-student community.
• Absorb history & cultures through European travel.
• Help others through international service projects.
NJC is a member of the Canadian Association of Independent Schools
the Swiss Group of International Schools (SGIS)
4 16 .36 8.8 16 9, 1.80 0 .263.2923
ad mis si ons @ n e uc h at e l .org w ww .n jc .c h
A p p l i c a t i o n d e a d l i n e s f o r 20 0 8 / 20 0 9 a d m i s s i o n a r e :
Monday, December 10, 2007 (first round)
Monday, March 3, 2008 (second round)
22
INFO SUISSE
and
BUSINESS AND TRADE NEWS – SWITZERLAND
SWITZERLAND HAS ONE OF THE
MOST ATTRACTIVE TAX SYSTEMS
WITHIN EUROPE
According to a survey of European tax systems,
compiled by KPMG International, in which
major business organizations across Europe
assessed the attractiveness of their domestic
tax systems, Switzerland ranks third behind
Cyprus and Ireland respectively. The survey is
based on particular aspects of the tax system,
including consistency, stability over time,
volume of legislation, the tax rate, and relationships with tax authorities. The survey is
compiled from more than 400 interviews with
tax professionals in multinational companies
across Europe. Regarding the tax rate and the
stability in resisting frequent changes to tax
laws, Switzerland performed outstandingly:
100 percent (as opposed to 49 percent on
average across Europe) of the participants
called Switzerland attractive regarding the tax
rate and stability. As far as relationships with
tax authorities, 90 percent (as opposed to
60 percent on average across Europe) of the
respondents lauded Switzerland.
WINS AND UPDATES
Internet company Yahoo! is moving its European headquarters from London to Geneva
and relocate a portion of its UK staff of 700
over an 18-month period.
offices in Mexico City, Mexico, and Villars-surGlane, Switzerland.
Three Wins for Basel
Maryland-based Sucampo Pharmaceuticals
announced that its wholly-owned European
subsidiary, Sucampo Pharma Europe Ltd.
based in Oxford, UK, has opened a branch
office in Basel. The company also continues to
maintain an IP Center in Canton Zug. Basel is
also the location for the new EMEA headquarters of California-based DNA2.0 Inc., a gene
synthesis and protein engineering company,
and for Synosia Therapeutics, which has
relocated its headquarters from California.
Synosia develops products for unmet needs
in psychiatry and neurology.
Minnesota-based Ecolab Inc., a provider of
cleaning, food safety and health protection
products, is establishing its EMEA headquarters in the Zurich suburb of Wallisellen. The
operation is comprised of current European
management staff as well as new talent
totaling over 100 employees by the end
of 2008.
Massachusetts-headquartered
Auspice
Corp, a provider of real-time operations
automation and network service assurance
solutions, has opened two new regional sales
REVERSE INVESTMENTS
Swissmetal, with over 750 employees and
last year turn-over of about SFr 350 million
agreed to acquire RM Precision Swiss Inc.,
based in Las Vegas, Nevada. RM Precision is
a highly-specialized manufacturer of technical precision parts composed of copper
alloys used in the plug connector business in
the aviation industry. Financial terms of the
transaction were not disclosed.
The Molecular Diagnostics (RMD) division of Swiss pharmaceutical company
Roche opened a new research facility at the
company’s existing campus in Pleasanton,
California. The Pleasanton campus now
houses nearly 500 employees, including 120
members of RMD’s research teams previously located in Alameda.
Swiss-based Novartis has acquired a
25 percent stake in Alcon, a Fort Worthbased
company specializing in ophthalmics, which
ranks among the fastest-growing sectors
in pharmaceuticals. The initial 25 percent
acquisition from current owner Nestlé is
estimated to cost about $11 billion. Novartis
retains the right to buy the remaining shares
at a later date.
J U N E /J U LY
23
BUSINESS AND TRADE NEWS – SWITZERLAND
According to the Swiss-American Chamber of Commerce, Petroplus Holding AG,
based in Zug, is forming a joint venture with
US-based private equity groups Blackstone
and First Reserve, to purchase crude oil
refineries in the US. The joint venture will
operate under the name PBF.
FROM THE FOREIGN DESK
Egypt’s hotel and tourism company Orascom
Hotels & Development SAE is relocating
its headquarters to Altdorf, canton Uri, as
Orascom Development Holding AG and will
list on the Swiss Stock Exchange SWX. The
move is to give the family owned company
24
INFO SUISSE
better access to capital markets to fund
expansion. The company earlier received
the go-ahead to build a resort complex in
Andermatt in the same canton.
It has been reported that Texas Pacific
Group (TPG) has agreed to sell Swiss shoe
group Bally International to the Labelux
Group, formed by the German Reimann family. The transaction is said to be valued in the
$600 million range.
Terumo Corporation of Tokyo, Japan has
opened a branch office in Wettingen. Terumo
is a global manufacturer of medical devices
with 2007 annual revenues exceeding $2.5
billion. The president of European operations
noted that “Switzerland is home to many
of the world’s largest healthcare companies
and the opening of the Swiss branch presents a tremendous growth opportunity for
the company.”
OTHER NEWS
Switzerland, Austria and Germany have the
most attractive environments for developing
the travel and tourism industry, according to
the second annual Travel & Tourism Competitiveness Report 2008, released by the
World Economic Forum. Rankings are based
on the Travel & Tourism Competitiveness
Index (TTCI) covering 130 countries around
the world. The top-ranked countries demonstrate the importance of supportive business
and regulatory frameworks, coupled with
world-class transport and tourism infrastructure and a focus on nurturing human and
natural resources.
The March 14 issue of Financial Times
reported on Yahoo’s plan to “quit London
office for Geneva,” adding that recent wins
for Switzerland included Google’s engineering headquarters in Zurich and Electronic
Arts moving its European headquarters from
outside London to Geneva.
The March issue of Business & Commercial Aviation reported on five regional Swiss
airports agreeing to cooperate in a push to
attract more business traffic. Location Promotion Switzerland’s role is mentioned. The
airports serve Berne, Luzerne, Lugano, Sion
and St. Gallen, with Grenchen and Sameden
expected to join in.
Switzerland ranks third after Denmark
and Sweden in the 2007-08 Global Information Technology Report produced by the
World Economic Forum in cooperation with
INSEAD, the leading international business
school. Published for the seventh consecutive year with record coverage of 127 economies worldwide, the Report has become the
world’s most comprehensive and authoritative international assessment of the impact
of ICT on the development process and the
competitiveness of nations. www.weforum.
BUSINESS AND TRADE NEWS – SWITZERLAND
org/en/initiatives/gcp/Global%20Informat
ion%20Technology%20Report/index.htm
Switzerland ranks 5th in Europe in the
2008 E-readiness Index. The annual survey
examines the information and communication technology (ICT) of 70 economies,
using a model developed by the Economist
Intelligence Unit in cooperation with the IBM
Institute for Business.
An interview of Mario Brossi by Staci Dixon
of CoreNet Global’s The Leader resulted in a
2-page overview in the September-October
2007 issue discussing the current FDI environment. It is posted at
http://www.locationswitzerland.com/
html/newsletters-pr-articles/articles/200709-lsecodevlbos.pdf
ECOLAB ESTABLISHES EMEA HEADQUARTERS IN SWITZERLAND – STAFFING TO
EXCEED 100 BY YEAR-END 2008
Ecolab Inc. the leading provider of cleaning,
food safety and health protection products
and services for the hospitality, foodservice, healthcare and industrial markets has
established its Europe, Middle East and
Africa (EMEA) headquarters in Switzerland,
reports Mario Brossi of the Foreign Investment Agency Location Promotion Switzerland. The new offices in the Zurich suburb of
Wallisellen will house the EMEA leadership
team whose focus is to drive the strategic
leadership and management of the region,
Mr. Brossi added.
Ecolab EMEA President Jim White commented on the move saying, “After undergoing an extensive evaluation process to
find an ideal location, Ecolab selected the
Zurich area because of its consistent ranking
as one of the best business locations in the
world, as well as the outstanding quality of
life it offers our associates. These features
will help us attract and retain world-class
and diverse talent.
“Other important criteria included its central location, excellent public transportation
system, proximity to our regional customers
and a diversity of housing options,” Mr. White
said. “The presence of so many other headquarter operations in the Zurich area also
served to reinforce our conviction that this is
the right location for our EMEA activities.”
Ecolab, with world headquarters in
St. Paul, MN, has been operating in the
EMEA region for more than 60 years and is
represented in 35 countries in the region.
It employs approximately 7,000 associates
throughout the EMEA region and serves
diversified market segments providing food
safety, sanitation and health protection
solutions to many of the world’s best known
brands. With sales of $5.5 billion and more
than 14,000 sales and-service associates,
Ecolab Inc. (NYSE: ECL) is the global leader in
cleaning, sanitizing, food safety and infection
control products and services in more that
160 countries. More news and information is
available at www.ecolab.com.
■
Source: Location Switzerland
Experience the
ultimate in chocolate.
Taste what over 150
years of Swiss tradition,
know-how and passion
can produce.
Visit our Lindt Boutiques at the Sears stores
in Toronto Eaton Centre and Vancouver Pacific Centre.
J U N E /J U LY
25
BUSINESS AND TRADE NEWS – SWITZERLAND
BURNING YOUR MORTGAGE
A significant event in everyone’s life is the
burning of their mortgage. For some of us,
between the cost of raising children, or “moving-up”, or other life decisions, the momentous mortgage pay-off can be delayed,
sometimes significantly. Many of our clients
still have mortgages and we are often asked
about the value of transferring their mortgage
into an RRSP. There is no definitive answer to
this question. To the extent that there is any
advantage, it is in the spread between the
RRSP’s return on a same-risk investment (i.e.
the RRSP funds you have in GIC’s and low risk
investments) and the retail mortgage yield
that the RRSP will receive. For example, if you
have a GIC earning 3% a year and the retail
mortgage interest rate is 7%, the spread is
4%. The next question is who can transfer
their mortgage into an RRSP? The Income Tax
Act provides that a mortgage in respect of
real property situated in Canada is a “qualified investment” for an RRSP, unless the mort-
gagor (or any mortgagor) of the mortgage is
a person who is not at arm’s length, or does
not deal at arm’s length, with an annuitant of
the RRSP. In other words, the general rule is
that neither you nor your spouse would qualify to make the mortgage transfer. However,
the above provision is removed when the
mortgage is insured under and administered
by a lender approved by the National Housing
Act. Most banks and trust companies would
be approved lenders. For the mortgage to
qualify, it must bear interest at the market
rate and have commercial repayment terms.
There are several fees involved in setting up
your mortgage in your RRSP. These would
include home appraisal fees, legal fees and
administrative fees to the RRSP institution
and insurance costs under the National Housing Act. If you are unsure about the possibilities of transferring your mortgage into your
■
RRSP, speak to your banker and us.
By Cunningham LLP, Chartered
Accountants, Toronto.
SWITZERLAND CENTRE FOR
TRADE FAIRS/ LA SUISSE
– PLACE DE FOIRES
03.06. – 06.06.2008
EPHJ Expo is renowned as one of the
wealthiest and most developed in
the world. This glittering event brings
together the best from the world of
jewellery & Watches, and it presents an
excellent opportunity for exhibitors to
expand their business and gain profit from
one of the richest markets in the world.
Venue: Palais de Beaulieu, Lausanne,
Vaud, Switzerland.
04.06. – 06.06.2008
Intelligent Transport Systems World
Congress & Exhibition will provide
a unique opportunity to meet the
key buyers from around the world.
The international ITS community will
participate in this prestigious event in
significant numbers and the Exhibition
and Congress will run concurrently,
giving exhibitors maximum exposure
LETTE LETTE & PARTNERS
WWW.LETTE.COM
to both delegates and visitors. There is
also an opportunity to display one’s ITS
applications outdoors.
Venue: Geneva Palexpo, Geneva,
Switzerland.
For over 50 years, many of Europe's largest corporate groups, as well as numerous
small and medium-size companies, have counted on Lette Lette & Partners to provide
them with practical, sophisticated and cost-effective legal advice in Canada.
04.06. – 08.06.2008
Art 39 Basel takes place from June 4
– 8, 2008. The international art show
Bernard Lette
avocat aux barreaux de Paris, Montréal et Toronto
Barrister & Solicitor, admitted to practice in Ontario, Québec and France
[email protected]
Toronto: +1.416.971.4848 ext 5421
Montréal: +1.514.871.3838 ext 202
features about 300 leading art galleries
from 30 countries on all continents. Art
Basel is the world’s premier modern and
contemporary art fair. 20th- and 21stcentury art works by over 2,000 artists
will be on display. 55,000 art collectors,
Lette Lette & Associés
Lette & Associés
Lette Whittaker
Paris
Montréal
Toronto
Lette & Associés
Lette & Knorr
Genève
München
art dealers, artists, curators and art lovers
attend the annual meeting place of the
art community.
Venue: Exhibition Center Basel, Basel,
Basel-Stadt, Switzerland.
26
INFO SUISSE
Our roller coaster.
MySwitzerland.com
Switzerland has one of the world’s best and most integrated transportation systems. With only
a single pass you can take advantage of the whole system – it even gives access to over 400
museums. Starting December 2007, the new Loetschberg-Basistunnel will become part of the
European Railway Network and will reduce travelling time to the Valais by more than an hour.
Get a Swiss Travel Pass and off you go, on a thrilling ascent while watching the spectacular
scenery go by. Like on a Roller Coaster - just more naturally.
For more information or to book online visit
Raileurope.com/canada or call 1-800-361-RAIL
N O U V E LLES ECO N OMI Q UES
LA SUISSE A PIGNON SUR RUE
À MONTRÉAL!
« …mais ce qu’elle vous propose va au delà
de ses industries chocolatière et horlogère »
a précisé Mr Claude Duvoisin, Consul général
de Suisse à Montréal, lors du cocktail organisé le 31 mars par la Chambre de commerce
du Montréal métropolitain..
À l’origine, il y a eu un désir de rapprochement de la Chambre de Commerce CanadoSuisse avec la Chambre de commerce du
Montréal métropolitain.
Sous l’égide de l’Opéra de Montréal, le
cocktail a eu lieu au Café du MonumentNational, bâtiment historique et haut lieu
des arts de la scène. Mélange de bon goût
aussi, car les participants ont eu le plaisir d’y
savourer un excellent vin suisse offert par le
Consulat et des chocolats suisses.
Deux moments de grâce ont clôturé la
soirée : les extraits d’opéras de Donizetti,
Puccini et de Starmania interprétés avec
talent et émotion par les solistes de l’Atelier
des arts lyriques, relève des jeunes chanteurs québécois et canadiens. Finalement,
un tirage au sort de billets pour Madame
Butterfly, billets qui furent gagnés par un
Suisse de Lausanne!
L’objectif de la rencontre était de favoriser un échange fructueux entre les membres des deux Chambres de commerce afin
d’établir des liens d’affaires dans un contexte
détendu et d’aiguiser la curiosité envers le
marché suisse pour des occasion d’affaires
de toutes sortes.
Le Consul a évoqué l’accord de libreéchange qui a été signé récemment entre le
Canada et l’Association européenne de libreéchange, dont la Suisse fait partie. Il devrait
agir comme catalyseur dès qu’il sera ratifié
et relancer de plus belle les échanges commerciaux entre la Suisse et le Canada. Il a
souligné plus particulièrement, les points de
vue communs entre le Québec et la Suisse et
a insisté sur les échanges fructueux dans les
domaines académiques et culturels.
Les membres de la Chambre de commerce Canado-Suisse ont partagé avec
enthousiasme leurs points de vue avec leurs
collègues de la communauté des affaires
28
INFO SUISSE
de Montréal. Ces rencontres seront, nous
l’espérons, le point de départ de relations
d’affaires. Elles permettent à la Chambre de
Commerce Canado-Suisse de mieux se faire
connaître et d’attirer de nouveaux membres.
Elles ajoutent aussi, tout en le diversifiant,
une saveur d’affaires supplémentaire au
menu d’activités que nous proposons.
■
De gauche à droite : Claude Duvoisin, Consul général de Suisse à Montréal; Chantal Lambert, Directrice de
l’Atelier lyrique de l’Opéra de Montréal; Louise Bélanger Vice-Présidente de la Chambre de commerce du Montréal
métropolitain; Pierre Dufour, Directeur général de l’Opéra de Montréal.
141 Adelaide Street West, Suite 203
Toronto, Ontario
M5H 3L5
Telephone: 416 777-0123
Fax: 416 777-0308
For your investment needs please contact:
Werner Joller
David Ratcliffe
President
Managing Director
www.hottinger.com
WHEREVER YOU ARE IN THE WORLD
www.swissinfo.ch
YOUR DIRECT CONTACT TO SWITZERLAND
World’s finest products for skin care, nutrition, weight loss, health,
anti-aging, cosmetics, hair care and aromatherapy delivered to your
doorstep.
Sylvia Mayer
District Manager, Toronto
ID # 115060678
Tel: 416-207-9797 or 1-800-ARBONNE
Email: [email protected]
Visit our website: www.arbonne.ca
PURE SWISS SKIN CARE
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FORMULATED IN SWITZERLAND MADE IN THE USA
COLOR I NUTRITION I WEIGHT LOSS I AROMATHERAPY
30
INFO SUISSE
NOUVELL E S ECO N OM I Q U E S
UNE DÉLÉGATION ÉCONOMIQUE
DU CANTON DE VAUD EN MISSION
À MONTRÉAL.
Editorial articles on business and
trade from members and member
companies are welcome, subject to space
availability. Please note the following
deadlines for submission in the 2008 info
suisse publication:
Nous invitons des articles économiques
et affaires de nos members, qui serons
considerés pour publication selon espace
disponible. Nous aimerions vous rappeler
les dates les plus tards pour de telles
soumissions en 2008:
suivi par monsieur Jacques Pasche, PDG
de DEWS, qui a fait une présentation plus
formelle sur les avantages de la région.
ALIBI
Une importante délégation économique
dirigée par le Conseiller d’État et Chef du
département de l’économie du Canton de
Vaud, monsieur Jean-Claude Mermoud s’est
arrêtée à Montréal le 28 avril dernier.
La Chambre de commerce canadosuisse de Montréal a saisi cette occasion
pour s’associer au DEWS (Développement
économique Western Switzerland) et
organiser une réception avec de nombreux
représentants de la communauté d’affaires
montréalaise intéressés au marché suisse.
Après un mot de bienvenue du Consul
général, monsieur Claude Duvoisin, le
Conseiller d’État Mermoud a prononcé une
allocution convaincante sur les opportunités
d’affaires dans l’Ouest de la Suisse. Il a été
Une période de question fort animée a
permis de répondre à de nombreuses interrogations des invités. « Je suis extrêmement
satisfait de cette rencontre » a indiqué
Jacques Thévenoz, président de la CCCSM.
« Nous avons pu réunir un nombre important de représentants de la communauté
d’affaires dont plusieurs ne sont pas membres de notre Chambre, et qui ont démontré un grand intérêt pour les questions
économiques suisses. »
La présentation a regroupé plus de
70 personnes à l’Auberge Saint-Gabriel et
a été suivi d’une réception qui a favorisé
les échanges avec les autres représentants
suisses de la délégation.
■
Entre la banque fondée à Genève en 1819 et la marque désormais présente sur 3 continents,
il y a tout un monde de nouvelles opportunités pour nos clients. Mais c’est toujours avec
la même volonté d’excellence que Mirabaud peut, aujourd’hui, vous faire profiter de ses
compétences sur un large territoire de produits et services financiers: gestion privée et
institutionnelle, fonds traditionnels et alternatifs.
Ouverture & équilibre
Publication August / September
Août / Septembre
Submission Date / date de soumission
15 August / août 2008
Publication October / November
Octobre / Novembre
Submission Date / date de soumission
15 September / septembre 2008
Publication December / January (‘09)
Decembre / Janvier (’09)
Submission Date / date de soumission
15 November / novembre 2008
MIRABAUD Gestion Inc. Yves Erard
1501, avenue McGill College Bureau 2220 Montréal (Québec) H3A 3M8
T +1 514 393-9748 F +1 514 393-1828
www.mirabaud.com
J U N E /J U LY
31
WELCOME NEW MEMBERS
SCCC (TORONTO) INC.
Corporate Member
Sandra Leuba
Manulife Investments
250 Bloor Street E., East Tower 12
Toronto, Ontario, M4W 1A5
Tel: (416) 852-7707
Email: [email protected]
www.manulifeinvestments.ca
Fabian Richenberger
Zurich Canada, Senior Vice President
400 University Avenue, 25th Floor
Toronto, ON M5G 1S7
Tel: (416) 586-2959
Fax: (416) 586-2939
Email: [email protected]
…You Can Always
Trust A Swiss
BIENVENU AUX NOUVEAUX MEMBRES
SCCC (MONTREAL) INC.
Individual members / membres individuels
Mr. Murad Hannoush
Investors Group
2001 University, Bureau 1620
Montréal, QC H3A 2A6
Tel: (514) 618-1381
Fax: (514) 350-8752
Courriel:[email protected]
Web: www.investorsgroup.com
Mr. Andrea Heberlein
President
Balsavour Canada Inc.
378, MacArthur, St. Laurent, QC H4T 1X8
Tel: (514) 737-2929
Fax: (514) 737-6042
Courriel : [email protected]
Web: www.balsavour.com
M. Edouard Housez
Consultant (Banking & Finance)
Michael Page International
1000, de la Gauchetière ouest
Bureau 2414, Montréal, QC H3B 4W5
Tel: 514-448-7471
Fax: 514-448-5101
Courriel: [email protected]
Web: www.michaelpage.ca
Corporate “B”
Kuehne & Nagel Ltd
1155, rue University, Suite 400
Montreal, QC H3B 3A7
Tel: (514) 397-9900
Fax: (514) 395-2410
Web: www.kuehne-nagel.com
Mr. John Stoppenbrink
Regional Vice-President
[email protected]
Mr. Ian Ollek
Sales Manager
[email protected]
Usinage Québec Centre
M. Paul Lüthi, President
51, de l’Église
Baie-du-Febvre, QC J0G 1A0
Tel. & Fax : (514) 783-7830
Courriel: [email protected]
32
INFO SUISSE
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