Industry
International adjusting firm Lindsey Morden (TSX: LM), which operates in Canada as Cunningham Lindsey, saw its earnings rebound for the first quarter of 2005 to $5.2 million versus a loss of $21.1 million reported for the same period a year ago. This translates to earnings of 37 a share for the latest reporting period compared […]
May 31, 2005
2 min read
A steady decline in physical damage claims over the past five years has forced suppliers like the auto glass industry to reexamine how they can add value to the insurance process. Today, the most responsive firms are emphasizing end-to-end claims management services, quick turnaround and guaranteed quality.
By Bill Robertson, vice president of The Glass Partnership | May 31, 2005
5 min read
Not unlike the admitted defeat of Britain’s imperialistic ambitions as witnessed by the “winds of change” speech made by that country’s prime minister Harold Macmillan in 1960, the property and casualty insurance industry appears to be facing its own epic change as a result of tumultuous events. However, where social rebellion spelled the end of […]
By Sean van Zyl | May 31, 2005
4 min read
Mutual insurer, Co-operators General Insurance Co. (TSX: CCS.PR.A), lifted net earnings for the first quarter of this year by 6% to $36.5 million compared with the $34.4 million reported for the same period in 2004. The latest quarterly result equates to earnings of $1.75 a share versus the $1.65 a share shown for last year’s […]
1 min read
Northbridge Financial Corp. (TSX: NB), the holding company for the Fairfax group’s Canadian insurance operations, lifted net earnings for the first quarter of this year by 76.5% to $56.8 million compared with the $32.2 million reported for the same period in 2004. This equates to earnings for the latest reporting period of $1.12 a share […]
Insurance giant Fairfax Financial Holdings Ltd. (TSX: FFH) saw net income dip for the first quarter of 2005 to US$35.2 million (US$2.03 a share) versus the US$39.0 million (US$2.63 a share) reported for the same period last year. The company’s total revenue dropped marginally for the latest reporting period to US$1.47 billion from the US$1.48 […]
ING Canada Inc. (TSX: IIC.LV) notched up a return on equity of 28.9% for the first quarter of this year with net income soaring by 38% to $158.5 million compared with the $115.1 million disclosed for the same period in 2004. Earnings clocked in at $1.19 a share for the latest reporting period, reflecting modest […]
3 min read
The Fairfax group’s reinsurance operation, Odyssey Re Holdings Corp. (NYSE: ORH) saw net income for the first quarter of this year fall by 38.5% to US$36.2 million compared with the US$59 million reported for the same period in 2004. This equates to earnings of 53 a share for the latest reporting period versus 85 a […]
The Property and Casualty Insurance Compensation Corporation (PACICC) recently elected Kevin McNeil as chair of the board of directors. McNeil is president and CEO of the Gore Mutual Insurance Company and a board member of Gore Mutual Insurance Company, Gore Mutual Foundation, Consumers Council of Canada, the Insurance Bureau of Canada (IBC) and executive vice-chair […]
The intense regulatory scrutiny and plummeting consumer confidence that has dogged the property and casualty insurance industry since the onset of the most recent hard market were brought on by the collective actions of insurers, says Ellen Moore, president of Chubb Insurance Co. of Canada. “Companies focused on getting business on the books and underwriting […]
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