Industry
Willis Group Holdings Ltd (NYSE: WSH)’s 2006 Q1 revenues increased slightly to US$671 million from US$669 million during the same period in 2005. Willis Group says the effect of foreign currency translation decreased reported revenues by 5% and net disposal of operations reduced reported revenues by %. Joe Plumeri, chairman and CEO, says last year […]
May 31, 2006
1 min read
Munich Re's 2006 Q1 profits increase 41.7%
Following its recent acquisition of Allianz, ING Canada is seeking further opportunities to expand, ING Canada president and CEO Claude Dussault told an annual general meeting of the company’s shareholders recently. “With the acquisition of Allianz, ING Canada solidified its leading share of the property and casualty market,” Dussault said in the text of a […]
The cost for public companies to comply with Sarbanes-Oxley is higher than expected, according to a recent Government Accountability Office (GAO) report. The report, released by Republican senators Olympia Snowe and Michael Enzi, indicates companies are choosing to go private in order to sidestep the rules. In order to address the concerns, an official advisory […]
Canadian and U.S. forecasters warn the 2006 hurricane season, beginning June 1, 2006, will result in major storms – including about five major hurricanes with winds of 180 km-h or greater. Dave Phillips of Environment Canada says global warming may be causing the increase in severity and intensity of hurricanes. “We are seeing… almost a […]
Odyssey Re Holdings Corp. (NYSE: ORH) reported investment and net income increases for 2006 Q1, as well as a significant improvement in its combined operating ratio (COR) over the same period last year. Odyssey Re reported net income available to common shareholders of US$149.7 million for 2006 Q1, compared to US$33.7 million last year. The […]
“Starlight Starbright make everything all right.” Over 600 generous guests helped The Fellows of the CIP Society’s 12th Annual Charity Gala exceed its goals – and truly become the event ‘where wishes and dreams can come true’ – with all proceeds going to the Starlight Starbright Children’s Foundation of Canada. Gala Chair and hostess for […]
4 min read
Echelon General Insurance Company recently introduced a new logo, brand, and communications program at a launch event. CEO Doug McIntyre introduced the new corporate brand to brokers and business partners, explaining that it represents the company’s strategic vision and would ultimately better position the company for growth and profitability. During the presentation, McIntyre attributed the […]
2 min read
Trisura Guarantee Insurance Company has started up in Toronto, according to 2006 Q1 licensing data released by the Financial Services Commission of Ontario (FSCO).The company is licensed for the following lines of business: Boiler and Machinery, Fidelity, Legal Expense, Liability, Property and Surety.Trisura’s CEO is Robert E. Taylor. Glengarry Farmers’ Mutual Fire Insurance Company and […]
By Canadian Underwriter | May 31, 2006
The outlooks on both personal and commercial lines of the property and casualty insurance sector remain stable, according to a recent report published by Standard & Poor’s Rating Services. This stability is, according to the report titled “Industry Report Card: North American Insurance Holding Companies Cope With Various Sector-Specific Issues,” due to the fact that […]
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