Home
Peel Maryborough Mutual Insurance Company has become the 40th property and casualty insurance company to become a member of the Centre for Study of Insurance Operations (CSIO).CSIO is Canada’s national standards association of property and casualty insurance companies, broker management system/vendors and independent insurance brokers. It oversees the development, implementation and maintenance of industry standards […]
By Canadian Underwriter | September 30, 2005
1 min read
Canada’s car, home and business insurers will likely have to pay out more than $400 million to help Southern Ontario recover from the storm that hit on August 19, resulting in what the IBC calls the “highest insured loss in Ontario history.” The series of storms, including two tornadoes, wreaked havoc on southern Ontario, destroying […]
August 31, 2005
2 min read
According to a recent survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA), a group of 26 U. S. property-casualty reinsurers wrote $13.2 billion of net premiums during the six months ended June 30, 2005.The reinsurers’ combined ratio was 105.8%, compared with the combined ratio of 96.3% reported by a […]
By Canadian Underwriter | August 31, 2005
Swiss Reinsurance Co. has appointed Jacques Aigrain, currently deputy CEO of the company, as the new chief executive officer.Aigrain will succeed John Coomber upon his retirement as CEO in December.Coomber will be nominated for the board of directors at Swiss Re’s annual general meeting in 2006, according to the Company.Swiss Re also recently created the […]
By Canadian Underwriter | August 25, 2005
The Insurance Corporation of British Columbia (ICBC) recently filed a statement of claim in BC Supreme court to take civil action with the intent to recover claims paid and investigation costs, plus damages, associated to an alleged motorcycle theft scheme.In 2003, ICBC investigators received information through its Tip Line the ICBC’s tool to combat fraud […]
By Canadian Underwriter | August 24, 2005
After serving the life and property and casualty insurance and reinsurance industry for almost 50 years, Pat King will retire from the position of chief agent and principal officer for Alea Canada. King spent 24 years with the direct writer as vice president and in 1987, King joined the Canadian Home Assurance Company as president […]
By Canadian Underwriter | August 22, 2005
Capital markets minimize exposure to catastrophic insurance risks and as a result, public and private equity investors are buying notes exposed to natural peril and mortality catastrophic risks with high excess casualty exposure recently being securitized and rated by Standard & Poor’s Ratings Services.Avalon Re Ltd. recently issued three notes for $135 million each that […]
By Canadian Underwriter | July 28, 2005
The Chubb Corporation (NYSE: CB News) net income in the second quarter of 2005 is $496 million, a 39% increase over net income of $356 million in the second quarter of 2004. Net income per share increased 32% to $2.45 from $1.85.Operating income, which the company defines as net income excluding after-tax realized investment gains […]
By Canadian Underwriter | July 27, 2005
3 min read
Results for the property and casualty insurance industry are expected to be stronger than anticipated for 2004 despite the fact that the industry’s performance will degrade over the next three years, according to Clint Harris, analyst at Conning Research and Consulting, Inc.The report “Property-Casualty Forecast & Analysis by Line of Insurance-Second Quarter 2005” released by […]
By Canadian Underwriter | July 19, 2005
Approximately one third of members of the insurance industry expect that insurers will not be able to keep up their current monetary status thorough the underwriting discipline. The Canadian Underwriter Web Poll for June asked “Moving ahead throughout 2005, do you expect that insurers will be able to maintain the same level of underwriting profit […]
By Canadian Underwriter | July 5, 2005
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
