Industry
Auto physical damage claims (APDs) represent a significant portion of claim costs for most insurers dealing in personal lines business. But, should this area of claims management be simply seen as the “dark evil” of being in the business, or rather an opportunity to improve profitability and gain a competitive edge. If you believe APD […]
By Roch Lacroix, vice president of Mitchell International Canada | April 30, 2000
3 min read
Imbalances in growth rates for property/casualty insurance premiums, losses and expenses could lead to a record downturn, says Frank J. Coyne, president and chief operating officer of Insurance Services Office Inc. (ISO). Forecasts based on third-quarter 1999 growth rates show the industry’s combined ratio would increase from 107.5% to 111.7% this year, and 136.2% for […]
April 30, 2000
1 min read
Broker consolidator Hi-Alta Capital Inc. (TSE: HIA) reported a 40% rise in net income to $345,226 for the 1999 financial year compared with the prior year’s earnings. However, earnings came in lower at 3 a share (1998: 4 a share) due to the dilution affect of debenture conversions to common stock. The debentures, amounting to […]
For the 1999 financial year the U.S. property and casualty insurance industry produced a disappointing 6.6% rate of return compared with 9.2% for 1998 and 11.9% for the year prior. The industry’s drop in shareholder returns for the year was driven by lower investment gains and a 39.5% year-on-year decline in underwriting losses to US$23.4 […]
2 min read
A broad company survey released by consultants Towers Perrin suggests that the vast majority of the 300 respondents believe e-commerce will triple in revenue terms over the next two years. The survey respondents were drawn primarily from the U.S., Canada, U.K., Europe and Australia. Over 35% of the respondents represent “traditional companies” with more than […]
Ipositioned myself near the entrance to the dining lounge and watched as the escalator in front of me deposited a steady stream of well-dressed couples to the upper level. I had arrived at the suburban racetrack early, to be on hand to greet our guests for dinner and an evening of horse racing. As my […]
By Axiom | February 29, 2000
8 min read
U.S. insurers are fortifying themselves for lower profitability and a higher operating ratio in the coming year, a survey revealed at the 2000 Property & Casualty Insurance Joint Industry Forum recently in New York City. Industry chiefs insist that, despite heightened merger and acquisition in the year ahead, the overcapitalized insurance environment could soon be swept away by an abundance of cost-absorptive changes.
By Lowell Conn & Sean van Zyl | February 29, 2000
5 min read
Harmonization efforts on the east coast have not gone unnoticed by regulators nationwide, with most provincial legislators carefully watching Insurance Act rewrites across the country in an effort for more standardized rules and regulations. Most recently, the regulatory sights have been set on the adjusting profession, delegates were told at the recently held 33rd Annual […]
By Lowell Conn | February 29, 2000
6 min read
The friendly bout gloves seem to have been removed in the latest acquisitional match of industry consolidation, namely the less-than-friendly bid made by listed Equisure Financial Network in the beginning of this year for its public-traded rival, Canada Brokerlink Inc. This was later followed by a friendly offer by Allianz Canada, a deal supported by […]
By Sean van Zyl, Editor | February 29, 2000
4 min read
Kingsway Financial Services Inc. (TSE: KFS) has announced a fourth quarter 1999 loss of 40 to 45 cents per share. The company expects to report a combined ratio of approximately 102% for fiscal 1999, a marked increase from 1998’s year-end 93.9%. Gross premiums written are on the rise, from 1998’s $409 million to $500 million […]
February 29, 2000
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