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Publicly traded broker network The Hub Group Ltd. has released its second quarter figures posting promising earnings in the face of many acquisitions. Total revenue in the second quarter amounted to $19.1 million, bringing year to date revenue to $35.2 million. The company, which went public in early 1999, is operating at a profit, with […]
August 31, 1999
3 min read
First-quarter results of the U.S. property and casualty insurance industry show signs of improvement; largely on the back of increased investment earnings derived from higher interest rates. The industry’s after tax income for the period clocked in at US$9.2 billion compared with US$9.5 billion for the same period a year ago, reports the Insurance Services […]
June 30, 1999
2 min read
Arecent tornado that hit Oklahoma has become the worst insured catastrophe in the state’s history, according to preliminary information released by the Property Claim Services (PCS) unit of Insurance Services Office (ISO). The storm system caused $955 million in insured damage, exceeding the state’s previous worst, a June 1992 tornado totalling $150 million in damages. […]
May 31, 1999
January 1999 was the third-costliest January for the U.S. in terms of catastrophe claims on record with insurers paying an estimated $1.75 billion in damages. The claims result from four events, according to Insurance Services Office, Inc.’s Property Claim Services (PCS) unit. During that month alone, catastrophe losses exceeded, by $750 million, the total cat […]
March 31, 1999
1 min read
Richard Patina, president of Lombard Commercial Lines and Robert Taylor, president of London Guarantee have announced the formation of a strategic alliance between the two insurance companies to refer business that falls within their respective areas of specialty. Lombard will refer to London Guarantee accounts seeking coverage for certain types of directors’ and officers’ liability, […]
February 28, 1999
Premiums generated by call centres in Canada have risen by 96% since 1994, says Ted Belton who addressed the Strategy Institute Call Centre Conference recently. Belton notes the more traditional distribution methods generated premiums at a lower 20% growth rate for the same period. Belton, author of quarterly The Belton Report, predicts companies and brokers […]
January 31, 1999
During the third quarter of 1998, preliminary net earning returns of Canadian property and casualty companies were down $59 million in comparison to the same quarter in 1997, says the latest issue of The Belton Report. The combined impact of the claims and expense numbers in third quarter 1998 was a $188 million loss, compared […]
December 31, 1998
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