Industry
Staffing costs took a bite out of earnings for Calgary-based brokerage Anthony Clark International Insurance Brokers Ltd. (TSX: ACL). The company posted revenue for the three months ending June 30 of $1.40 million, versus $1.25 million for the same period a year earlier. This was largely on the basis of new business commissions, while about […]
By Canadian Underwriter | September 10, 2003
1 min read
On the back of strong second-quarter 2003 results, Fairfax’s Odyssey Re Holdings Corp. (TSX, NYSE: ORH) says it will pay a cash dividend of $0.025 per share. The dividend is payable on September 30, to stockholders of record as of September 16.The company recently reported net earnings of US$112.7 million for the second quarter, or […]
By Canadian Underwriter | September 8, 2003
As Ontario heads into an early October election, auto insurance stands to be a key issue on the campaign trail. An early volley was thrown with the release of a study by The Fraser Institute, a conservative public policy organization advocating private market solutions.The study suggests drivers are safer under private auto insurance systems than […]
By Canadian Underwriter | September 5, 2003
As expected, the Ontario government has formally proposed additional changes to the auto insurance system on the heels of implementation of Bill-198.Premier Ernie Eves today announced the program which includes a reduction in the premium tax from 3% to 2%, which the government says should save policyholders up to $90 million. Other features include basing […]
By Canadian Underwriter | September 2, 2003
Additional auto insurance reforms, coming on the heels of those contained in Bill-198, are being welcomed with open arms by Ontario insurers.The reforms include several measures insurers have long been pushing for in the province, including a reduction in the insurance premium tax and measures to reduce auto insurance fraud.The changes come on top of […]
2 min read
With the possibility of government run auto insurance systems being touted about by the governments of the Atlantic Canada provinces, for insurers operating in the region as well as the insured public, this current uncertain time is a period of trepidation. A decision driven by politics rather than practicality and the age old wisdom of competition could well result in the region's drivers and taxpayers paying a hefty price over the long-run.
By Dennis Prouse | August 31, 2003
4 min read
Some property & casualty underwriters have questioned client relationship management's (CRM) validity. Others have suggested that the client relationship process has evolved to "commodity status" and therefore CRM offers little competitive advantage. However, new 2003 market research suggests otherwise - understanding customers remains as relevant as ever.
By Robert Angel | August 31, 2003
5 min read
Toronto-based Northbridge Finan- cial Corp. (TSX: NB), part of the Fairfax group, increased net earnings by 250% to $57.5 million for the second quarter of this year compared with the $16.4 million shown for the same period in 2002. The latest earnings equal $1.16 a share versus the 36 a share for the comparable period […]
August 31, 2003
Kingsway Financial Service Inc. (TSE: KFS) reported a return on equity of 18.2% for the 12 month period leading to the end of the second quarter of this year. This compares with the 11.8% ROE generated by the insurer for the comparable period for 2002. Kingsway’s net income for the latest quarter grew by 68% […]
Fairfax Financial Holdings Ltd.’s (TSX: FFH) net earnings rose more than five-fold to $246.2 million for the second quarter of this year compared with the $47 million reported for the same period last year. This equates to earnings of $17.15 a share for the latest quarter against the $2.95 a share shown for the same […]
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