Industry
Western Financial Group Inc. has completed the acquisition of Blonde & Blonde in Kelowna, B.C., Baxter Agencies, formerly a Trans West Insurance office, in Lac La Biche, AB, and Nielsen & Wolfe Agencies in Morrin, AB.”We are pleased to be able to add the growing Alberta communities of Morrin and Lac La Biche to our […]
By Canadian Underwriter | August 7, 2007
2 min read
Kingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) has reported a 2007 Q2 net income of US$41.7 million, a 4% increase over the same quarter last year.In a press release, Bill Star, the president and CEO, said he was pleased with the performance of our Canadian subsidiaries for the quarter and year to date, with each reporting […]
By Canadian Underwriter | August 3, 2007
Co-operators General Insurance Company announced its 2007 Q2 net income was down marginally, dropping from Cdn$49.6 million in 2006 Q2 to Cdn$48.9 million in 2007 Q2.The companys 2007 Q2 gross written premium decreased 0.7% to Cdn$$598.6, compared to Cdn$602.8 million in 2006 Q2.At the same time, the companys loss and combined ratios were both down […]
By Canadian Underwriter | August 2, 2007
1 min read
If a small dirty bomb were to be detonated near the CN Tower in Toronto, the economic impact would be upwards of Cdn$23.5 billion, according to a federal study led by Defence Research and Development Canada, as reported by Canadian Press. According to CP, this scenario — which the news service said would result in […]
July 31, 2007
Underwriting income is down and claims costs are up, according to 2007 Q1 financial figures posted by the Office of the Superintendent of Financial Institutions (OSFI), which oversees federally regulated property and casualty insurers in Canada. The OSFI 2007 Q1 figures do not include financial data for many reinsurers or provincially regulated P&C insurers. Also, […]
Allianz Global Corporate & Specialty North America, the corporate and specialty carrier of the Allianz Group in North America, has acquired AIM Underwriting Ltd. (AIM) in Canada. Since its establishment in 1999, AIM, a managing general agent, has maintained a strong presence within the Canadian general aviation industry. It specializes in hull and liability coverage, […]
Transport Canada is making it mandatory for all new cars, vans, light trucks and SUVs to be equipped with anti-theft electronic immobilizers, effective Sept. 1, 2007. Canadian vehicle manufacturers have recently announced plans to equip 2008 model vehicles in Canada with immobilizers, thereby meeting the requirements of the Canadian standard. The manufacturers include: * Audi […]
Swiss Reinsurance Company Canada recently held its annual June Golf Tournament and Dinner at Woodington Lake Golf Club in Tottenham, ON. A hearty crowd of insurance and reinsurance industry clients, partners and guests enjoyed the day, which was organized by Swiss Re’s Rob Mittertreiner. *** Insurance Industry ‘Competes For A Cure’ at WICC Ontario 8th […]
3 min read
Many trucking companies have incorrectly assumed all owner-operators are qualified to opt out of WSIB coverage. This misunderstanding has proved costly for some.
By Dylan Short, Manager, Advisory Services, Corporate Underwriting and Safety and Training, Markel Insu | July 31, 2007
5 min read
Everest Re Group Ltd. has reported a 2007 Q2 net income of US$283 million, up from US$220 million in 2006 Q2.Over the first six months of 2007, the company generated a net income of US$580 million for an annualized ROE of 22%. The reinsurers 2007 Q2 combined ratio was 89.2%, compared to 87.7% for the […]
By Canadian Underwriter | July 31, 2007
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