Industry
Auto accidents involving wildlife collisions peak in the month of November all across Canada due to mating season. Annually, accidents that result from large animals including deer, elk and moose crossing highways and crashing with cars can kill and injure people as well as cause tens of millions of dollars worth of accident claims and […]
By Canadian Underwriter | November 7, 2005
2 min read
The Toronto Stock Exchange has accepted a notice filed by Kingsway Financial Services Inc. (TSX:KFS) that states the insurers intention to make a Normal Course Issuer Bid.The notice provides that Kingsway may during the 12-month period commencing November 8, 2005 and ending November 7, 2006 purchase on the Exchange up to 2,823,000 common shares, being […]
By Canadian Underwriter | November 4, 2005
1 min read
Willis Group Holdings Limited (NYSE: WSH) recently reported a decline in net profits for the 3Q of 2005, in comparison to results announced in the third quarter of 2004.The Company ‘s net income for the 3Q in 2005 was $49 million, or $0.30 per diluted share. In 2004, the company reported 3Q earnings of $75 […]
By Canadian Underwriter | November 3, 2005
James N. Stanard resigned as chair and CEO of RenaissanceRe in light of ongoing regulatory investigations resulting from the company’s restatement of its financial results earlier this year, the company has announced.Stanard received a “Wells Notice” from the U.S. Securities Exchange Commission in August. Under the SEC’s procedures, a Wells Notice indicates SEC staff intends […]
ICBC says the rising cost of claims accounts for its reported net income of Cdn $195 million for the first nine months of 2005 down from $317 million for the same period last year.Despite the drop in net income, ICBC’s year-to-date financial results are positive, the company reports. “Earned premium revenue is growing, investment income […]
By Canadian Underwriter | November 2, 2005
Federally owned Canadian mortgage insurer Canada Mort-gage and Housing Corp. (CMHC) is the target of recent lobbying efforts from Canadian lawyers who want the Company to cease with its move to include title insurance in its package for people who buy its mortgage insurance.However, the CMHC’s initiative has garnered strength as Housing Minister Joe Fontana […]
By Canadian Underwriter | November 1, 2005
Commercial animal nutrition manufacturer Ridley Inc. (TSX:RCL) was recently named as a co-defendant in proposed class action lawsuits filed in four Canadian provinces (Qubec, Ontario, Alberta and Saskatchewan) and is examining its insurance position in respect of these lawsuits. The lawsuits seek recovery of damages, including punitive damages, for losses allegedly incurred by Canadian cattle […]
By Canadian Underwriter | October 31, 2005
Kingsway Financial Services Inc. (TSE:KFS) recently closed its acquisition of HI Holdings, Inc. (HI) for approximately US$25 million. The transaction includes HI’s wholly owned Zephyr Insurance Company Inc. (Zephyr). HI and Zephyr were formed in 2000 by its current shareholders that include Everest Reinsurance Company, Guy Carpenter & Company, Inc., Hannover Ruckversicherung AG, and Island […]
In mid-August, I presented our firm’s preliminary 2006 budget numbers at an operating committee meeting. Barring the unexpected, we would see moderate rate reductions of between 5% and 7% in our property treaty portfolio January 1, 2006. Auto casualty treaty business, priced at or above technically adequate levels, would likely be renewed at expiring rates. […]
By Donald P. Callahan, President and CEO of Guy Carpenter & Company, Ltd. | October 31, 2005
7 min read
Bank Act review and broker independence steal the show at IBAO's CEO panel discussion
October 31, 2005
6 min read
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
