Industry
God forbid the insurance industry would ever want to be generous and do things for policyholders that transcend legal obligations. Because if that happens, you can expect the public will want to see that gesture become a statutory requirement. A Quebec class action arising out of the 1998 Ice Storm is proving to claims managers […]
By David Gambrill | February 28, 2007
4 min read
Fairfax Financial Holdings (TSX: FFH) announced profits of US$159 million [approximately Cdn$184 million] for 2006 Q4, and US$227.5 million [approximately Cdn$264 million] for the year. The combined ratios of Fairfax’s insurance and reinsurance operations were 88.4% and 95.5% for the Q4 and 2006 year, respectively, compared to 112.7% and 107.7% for the Q4 and 2005 […]
February 28, 2007
1 min read
EGI Financial Holdings Inc. (TSX:EFH) announced a 2006 Q4 profit of $5.2 million – an increase of 70% over its 2005 Q4 profit of $3.1 million. The improvement was primarily attributable to the year-over-year improvement in the combined ratio, as well as the increase in investment income in 2006, the company reported. The company’s 2006 […]
Swiss Re’s non-life insurance portfolio grew 14% as a result of renewals of business acquired through the purchase of Insurance Solutions. The increase works out to CHF1.3 billion [about Cdn$1.2 billion]. The January renewal season accounts for 67% of the traditional treaty portfolio of Swiss Re and the former Insurance Solutions. Across the combined portfolio, […]
Ontario’s insurance companies can exclude coverage for liability on the basis of criminal acts, regardless of whether or not the criminal act was intentional, the Ontario Court of Appeal has ruled. Kirk Boggs, a lawyer with Lerners – along with Kirk Stevens of Lerners and Laird Scrimshaw of Thunder Bay – represented The Wawanesa Mutual […]
2 min read
The CIP Society will host its third annual industry symposium, An Industry in Change on April 24, at the Board of Trade in Toronto. The one-day forum will feature a keynote and seminar speakers addressing such topics as: contingency and pandemic liability; underwriting for tomorrow; planning for and dealing with catastrophe; succession planning and recruiting […]
By Canadian Underwriter | February 28, 2007
The Co-operators has donated Cdn$30,000 for a new research centre launched by St. Joseph’s Health Care in London, Ontario. St. Josephs Aging, Rehabilitation & Geriatric Care Research Centre is dedicated to collecting and using research knowledge gained in the fields of aging, rehabilitation, geriatric care, wound care and assistive technology. The centre is intended to […]
By Canadian Underwriter | February 27, 2007
The Sovereign General Insurance Company and OneBeacon Insurance Company have formed a strategic alliance regarding the introduction of products to Canada for certain commercial segments.Policies will be written under Sovereigns name and the 2 companies will share equally in the underwriting results of the policies through a reinsurance arrangement, explains a Sovereign press release.This alliance […]
Marsh Inc. announced the appointment of Henry S. Allen as global leader, consumer business, which includes the firms affinity and program management businesses, as well as its private client services division.Allen joined Marsh in 2002 as practice leader for the Global Trade Credit Practice and head of Marshs Affinity Business in Europe and the Middle […]
Canadas insurance regulators are contemplating market conduct surveys in the spring of 2007 that may ask insurance companies what they are doing to oversee the market behaviour of the brokers and sales intermediaries acting on their behalf.This is a development of which brokers should be aware, Dominion of Canada General Insurance Company president and CEO […]
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