Industry
Canadian property and casualty insurers lifted net income for the first quarter of this year by 16% to $683.5 million compared with the $589.6 million reported for the same period in 2004, according to industry financial data collected by the Office of the Superintendent of Financial Services (OSFI). The OSFI data indicates that insurers’ net […]
May 31, 2005
2 min read
Peel Regional Police participation in Canada’s Road Safety Week traffic campaign resulted in the issuance of 2,100 provincial offence notices (traffic tickets), 109 license suspensions, and 19 criminal of impaired driving related offences. The national campaign, which ended on May 23, focused on traffic safety and the elimination of aggressive driving behaviors by motorists. Enforcement […]
By Canadian Underwriter | May 31, 2005
1 min read
Macdonald Chisholm, a Nova Scotia insurance broker, recently acquired L.G. Trask Insurance Limited of Yarmouth. This acquisition reflects the commencement of one of the largest insurance brokerages in the Atlantic Provinces.”By combining the two organizations,” Mike Brien, president and CEO of Macdonald Chisholm, says, “we will be in a position to expand the scope of […]
Peel Regional Police participation in Canada’s Road Safety Week traffic campaign resulted in the issuance of 2,100 provincial offence notices (traffic tickets), 109 license suspensions, and 19 criminal charges of impaired driving related offences. The national campaign, which ended on May 23, focused on traffic safety and the elimination of aggressive driving behaviors by motorists. […]
Royal Bank of Canada (RY on TSX & NYSE) recently reported that an increase in total revenues of $226 million, or 5% from a year ago, largely reflects the higher volumes generated by its insurance operations, including the Canadian operations of Provident Life and Accident Assurance Company (UnumProvident) since May 1, 2004. The Company reported […]
By Canadian Underwriter | May 30, 2005
Electronic links and tool upgrades are increasingly important to agents and brokers who view fast turnaround on submissions and speedy quotes and claims services as prime services provided by an insurer, according to a recent survey conducted by A.M. Best. However, survey respondents 70% represented by agents, brokers and/or advisers maintain that human support during […]
Recent market activity indicates American International Group (AIG) shares are on the rise, only one day after New York Attorney General Eliot Spitzer sued the company.Gaining another $1.02 (1.8%), AIG’s shares recently added 3% leading the Company to reach its highest level since the end of March. Maurice “Hank” Greenberg, AIG’s former chief executive and […]
By Canadian Underwriter | May 29, 2005
Regional broker network consolidator Alpine Insurance & Financial Inc. has acquired Benefit Insurance Ltd., a Calgary-based brokerage. The terms of the deal have not been disclosed.Benefit Insurance will become the fifth branch-office of the Alpine network, and serve as the company’s future head-office. Alpine operates from five Alberta locations of Canmore, Edmonton, Lethbridge and Red […]
By Canadian Underwriter | May 26, 2005
In Ontario, 59 per cent of individuals with auto insurance are unsure how insurers are calculating their rates and may therefore be unintentionally paying higher premiums, according to a recent President’s Choice Financial/Ispos Reid Survey.In addition, 64 per cent with auto insurance exhibit interest in researching alternative insurers based on price and product comparison. However, […]
By Canadian Underwriter | May 25, 2005
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