Industry
RenaissanceRe Holdings Ltd. has reported US$62.2 million in 2007 Q4 net income, compared to of US$201.1 million in 2006 Q4.The company generated an operating return on average common equity of 26.1% for 2007 Q4, compared to 33.3% in 2006 Q4. Neill A. Currie, CEO, commented: “I am pleased to report strong full year earnings, resulting […]
By Canadian Underwriter | February 7, 2008
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Willis Group Holdings Ltd. reported a profit of US$409 million for 2007, compared to US$449 million over the prior year.The net income for 2007 Q4 was US$95 million, a decrease from 2006 Q4, in which the company reported a net income of US$148 million.Organic growth in commissions and fees was 3% for the year ended […]
The Toronto Insurance Women’s Association (TIWA) will be adding an extra splash of red and white to this year’s Valentine’s Day celebrations when it hosts its annual wine and cheese reception on Feb. 14, 2008. Guests will indulge in fine culinary offerings and clink their wine glasses with fellow industry peers at this year’s reception, […]
XL Capital Ltd has reported a net loss of US$1.06 billion for 2007 Q4. It reported a net income of US$471.1 million for 2006 Q4. Net income excluding net realized gains and losses 2007 Q4 was US$117.1 million, as compared with US$510.4 million for the prior year quarter, the company noted in a release. “I […]
By Canadian Underwriter | February 6, 2008
Aviva plc has reported total sales growth of 25% in 2007 to 38.6 billion (approximately Cdn$56.7 billion). Damage losses arising from the floods in the United Kingdom during June and July were originally estimated to be 340 million (approximately Cdn$500 million), bringing the total expected adverse weather costs in 2007 to 400 million (Cdn$587 million). […]
PartnerRe Ltd. has reported a net income of US$180.6 million for 2007 Q4, down from US$242.7 million in 2006 Q4.Over the entire year of 2007, the company reported a profit of US $717.8 million, which is down slightly from the 2006 net profit of US$749.3 million.Net premiums written for 2007 Q4 were US$714.4 million, compared […]
By Canadian Underwriter | February 5, 2008
Hannover Re is predicting its 2007 gross premium in property and casualty reinsurance to be on par with the previous year, at 3.54 billion (approximately Cdn$5.22 billion).Of the total premium volume written in the 2007 underwriting year in non-life reinsurance (excluding structured covers), amounting to 3.6 billion (approx. Cdn$5.32 billion), more than 73% was up […]
Customers can now use SGI’s Saskatchewan Damage Claims History Search to check a vehicle’s damage claims history going back to Jan. 1, 1998. The free online search will also provide a vehicle’s most recent Saskatchewan registration expiry date. Plus it will reveal if a vehicle has been given a status such as rebuilt, stolen, non-repairable […]
Fitch Ratings says the U.S. property and casualty insurance industry will need to produce a combined ratio of about 95.5% in 2008 in order to meet the goal of an 11% return on surplus.Fitch made this observation in a report outlining the rating agency’s five-factor model for determining return on surplus. The five factors in […]
By Canadian Underwriter | February 4, 2008
The Insurance Corporation of British Columbia (ICBC) is now offering a New Vehicle Replacement Plus program, which allows a vehicle to be written off if the damage exceeds 50% of its market value.Program members suffering a write-off would receive a new version of their vehicle or the cash equivalent. “Many new car owners don’t want […]
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