Industry
Everyone has moments of stress in the workplace environment, but in some cases the degree thereof can adversely impact the ability of employees to effectively do their jobs - resulting in lost work time. However, new stress-handling models have produced proven results in dealing with conflict before it reaches this adverse stage.
By Susan Philchuk & Maria Vandenhurk | August 31, 2004
4 min read
Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry's history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.
August 31, 2004
3 min read
Chicago-based broker Hub International (TSX: HBG), a subsidiary of the Fairfax group, saw improvement in its financial results from a variety of sources for the second quarter of 2004 – growth was experienced both organically and through acquisition, with both the Canadian and U.S. operations performing above expectation, a company statement says. Hub’s net earnings […]
2 min read
A steep decline in realized gains has dampened earnings growth for Fairfax Financial Holdings (TSX: FFH) for the second quarter of this year. The company’s net earnings for the latest reporting period came in at US$46.0 million (US$3.13 a share) compared with the US$173.7 million (US$12.09 a share) reported for the same period in 2003. […]
The first half 2004 financial return for Toronto-based E-L Financial Corp. (TSX: ELF) shows significant improvement over the result for the same period in 2003, with the first six months of this year mostly showing gains made in the general insurance segment. E-L is the parent of the Dominion of Canada General Insurance Co. For […]
Kingsway Financial Services (TSX: KFS) saw net income for the second quarter of this year rise by 22% to $33.3 million compared with the $27.3 million reported for the same period a year ago. This translates to earnings of 59 a share, reflecting a 7% year-on-year gain (with approximately 14% more outstanding common shares in […]
Co-operators General Insurance Co. (TSX: CCS.PR.A) saw its net income rise to $38 million ($1.74 a share) for the second quarter ending June 2004 on the back of a 5% reduction in the company’s combined ratio. Co-operators posted a combined ratio of 92.8% for the second quarter of this year compared with the 97.8% ratio […]
Northbridge Financial (TSX: NB), the Canadian operational holding company of Fairfax Financial, saw net earnings decline to $43.3 million (85 a share) for the second quarter of 2004 from $57.5 million ($1.16 a share) for the same period a year earlier – and this, despite the company turning in a combined ratio of 90.6% during […]
The latest quarterly financial filings by Canada’s property & casualty insurers shows an industry profit of $1.24 billion in the second quarter ending June 30, 2004. This compares with net income of $584.4 million as reported by the Office of the Superintendent of Financial Institutions (OSFI) for the second quarter of 2003.Combining commercial and auto […]
By Canadian Underwriter | August 31, 2004
1 min read
Both Ontario and B.C.’s financial services regulators are putting the stop to a “Stop ‘N Cash” operation selling insurance without a license.The Financial Services Commission of Ontario (FSCO) has issued a cease and desist order for SNC Insurance Company (Barbados) Inc. and Stop ‘N’ Cash 1000 Inc., located in Kitchener, ON. “An investigation found that […]
By Canadian Underwriter | August 30, 2004
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