Industry
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 […]
By Canadian Underwriter | May 2, 2005
1 min read
International adjusters Lindsey Morden (TSX: LM), which operates in Canada as Cunningham Lindsey, saw its earnings rebound for the first quarter ending March 31, 2005 to post net income of $5.2 million versus a loss of $21.1 million in the first quarter of 2004. This translates to net earnings of $0.37 for the quarter versus […]
By Canadian Underwriter | May 1, 2005
2 min read
Insurance giant Fairfax Financial Holdings Ltd. (TSX, NYSE: FFH) saw its net income dip slightly in the first quarter ending March 31, 2005 as a result of deteriorating underwriting conditions in the reinsurance segment.First-quarter 2005 net income was US$35.2 million, or US$2.03 per share, versus US$39.0 million, or US$2.63 per share, in first-quarter 2004. Total […]
The industry was overwhelmingly in favor of the Insurance Bureau of Canada’s decision to release consolidated financial data for its members as early as possible. The Canadian Underwriter Web Poll for April asked “Was it a good decision to release industry financial data as early as possible?” A full 76.95% of 282 respondents say “yes”. […]
The CIP Society shared its vision for the future of the insurance industry, hosting its first annual Symposium – “Emerging Issues in Insurance” April 26 at the Toronto Board of Trade. The line up for this full day symposium included: two dynamic keynote speakers, 17 seminar presenters – each expert in their chosen fields and […]
April 30, 2005
4 min read
Kingsway Financial Services CEO Bill Star welcomed many special guests, including legendary Mississauga Mayor Hazel McCallion (pictured) to a preview performance of “Guys and Dolls” at the Meadowvale Theatre. Star and wife Lizann treated industry friends to a cocktail reception followed by the play, performed by City Centre Musical Productions. Kingsway is a longtime sponsor […]
Despite the restrictive regulations governing the Canadian property and casualty insurance marketplace, the country continues to enjoy above average demand from carriers for new commercial business. While global capacity of Lloyd's of London remained mostly flat during 2004, the market's Canadian business growth over this same period significantly outpaced that of the U.S. and the U.K.
By Nicholas Smith, attorney in fact in Canada for Lloyd's Underwriters | April 30, 2005
5 min read
A number of new provisions to the “Ontario Building Code” will come into effect from July this year. These amendments, under Bill-124, will affect builders (including restoration contractors), municipalities, building inspectors and citizens, and by extension, insurers. They will have a visible effect on the time and cost necessary to complete residential building projects. Bill-124 […]
By Kyle Urech of Disaster Kleenup Canada | April 30, 2005
“Take care of the customer, take care of the customer, take care of the customer” – this was the response of one of my colleagues when I asked him what he does to ensure complete customer satisfaction. The answer is simple, direct, and speaks the truth. Our own personal interests and agendas often blind us […]
By Lorenzo D'Alessandro, president of Collision Solutions Network Inc. | April 30, 2005
3 min read
While 2004 was the best year of the hard market cycle in terms of company financial returns, the year ahead will likely see deteriorating results as lower pricing and rising claims costs eat at the industry’s bottom-line, predicts George Cooke, president of the Dominion of Canada General Insurance Co. Speaking at an Insurance Brokers of […]
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