Industry
Canadian Western Bank (CWB on TSX) has announced a 2006 Q2 net income of CD$16.7 million including earnings of CD$1.6 million from the bank’s insurance subsidiary, Canadian Direct Insurance Incorporated. Established in 1996, Canadian Direct Insurance is a Canadian federally chartered property and casualty insurance company currently doing business in British Columbia and Alberta, Canada.”Earnings […]
By Canadian Underwriter | June 1, 2006
1 min read
Brokers, insurers, banks and foreign companies battle for market share
By Kevin McNeil, President and CEO, Gore Mutual Insurance Company | May 31, 2006
5 min read
Pioneering collision repair facilities are incorporating quality management concepts into their day-to-day operations.
By Keith Burns, Manager, Performance Programs, PPG Canada Inc. | May 31, 2006
6 min read
C-SOX, Canada's version of the U.S. Sarbanes-Oxley Act, would eliminate external auditor attestation and introduce transparency through public reporting of MD&As
By David Gambrill | May 31, 2006
Does the Canadian P&C industry suffer an “image problem,” as many of its members suggest? During the April 2006 CIP Symposium in Toronto, for example, many speakers referred to a market survey that purportedly showed only 46% of survey respondents – the number of respondents wasnt stated – expressed confidence in the work of the […]
May 31, 2006
4 min read
ING Canada Inc. (TSX: IIC.LV) reported a net income of CD$185.9 million in 2006 Q1, a 17.3% increase over the CD$158.5 million it reported in 2005 Q1. The company’s revenue increased to CD$1.13 billion, up 3.2% from CD$1.098 billion in the comparable quarter of 2005. Claude Dussault, president and CEO of ING Canada, said the […]
Fairfax Financial Holdings Limited (TSX:FFH.SV, NYSE:FFH) had net earnings of US$172.1 million during the first quarter of 2006, compared to US$35.2 million in 2005, the company has announced. “Despite some softening in market conditions, the [2006 Q1] combined ratio of the company’s insurance and reinsurance operations improved to 96.0% (from 96.9% in 2005),” Fairfax announced […]
Kingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) reported its net operating income in 2006 Q1 increased 11% to US$30 million, compared to US$27 million in 2005 Q1. Underwriting profit during this year’s first quarter set a Q1 record of US$16.4 million, Kingsway noted in a press release. At the same time, the company’s overall net income […]
Royal & SunAlliance reported a strong start to 2006, with a combined operating ratio (COR) for the core group of 91.6% and 95.8% for the Canadian operation, which represents almost a three-point improvement over 2005 Q1. In addition, Royal & SunAlliance Canada saw a 50% increase in its underwriting profit, which was US$18 million. The […]
Arch Capital Group Ltd. (NASDAQ: ACGL) reports that net income available to common shareholders for 2006 Q1 was US$129.6 million, compared to US$115.9 million during 2005 Q1. Gross and net premiums written for the 2006 first quarter were US$1.17 billion and US$873.7 million, respectively, compared to US$980.7 million and US$799.8 million, respectively, for 2005 Q1. […]
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