Industry
Desjardins General Insurance Group (DGIG), a Desjardins Group subsidiary specializing in property and casualty insurance, has reported a combined ratio of 88% for the fourth quarter of 2015, ending Dec. 31, 2015, down from 92.6% in the same quarter of 2014. For the full-year 2015, the combined ratio was 89.3%, down from 93.8% for the […]
By Canadian Underwriter | March 2, 2016
2 min read
Brokers need to get more into the data space, understanding that data actually belongs to the customer, suggested Hugh McTavish, president of InsureMy and Godfrey-Morrow Insurance and Financial Services Ltd., at the Insurance Canada Broker Forum on Tuesday. Speaking during a session titled The Connected World: Telematics as an Appetizer, McTavish said that telematics is […]
By Canadian Underwriter | March 1, 2016
3 min read
Insurance software provider Vertafore, Inc. announced on Monday the acquisition of Keal Technology, a Concord, Ont.-based provider of broker and commercial management systems in Canada. The move extends Vertafore’s customer base into Canada, further creating an “international footprint for the largest software provider in the insurance industry,” Bothell, WA.-based Vertafore said in a press release. […]
By Canadian Underwriter | February 29, 2016
Berkshire Hathaway has reported insurance-underwriting earnings of US$306 million for the fourth quarter of 2015 ending Dec. 31, 2015, up from US$191 million in the same quarter in 2014. However, for the full-year 2015, earnings were US$1.162 billion, down from US$1.692 billion in 2014, the Omaha, NE.-based company said in a press release on Saturday. […]
RSA Group has reported a record underwriting profit in Canada for 2015, with a combined ratio of 91.7% for the year, compared to 98.6% in 2014. The core Group combined ratio was 96%, an improvement from 98.8% in 2014. RSA Group released its 2015 preliminary results on Thursday, reporting a Group operating profit of 523 […]
By Canadian Underwriter | February 25, 2016
The Young Insurance Professionals of Toronto (YIPT) has hosted an insurance careers open house and networking event for students of Ryerson University in Toronto. Held on Monday, the event was inspired by the Insurance Careers Month initiative, which “had the purpose of raising the profile of the insurance industry and informing students of the benefits […]
BB&T Corporation has reached an agreement to acquire CGSC North America Holdings Corporation (Swett & Crawford) from Cooper Gay Swett & Crawford (CGSC) for US$500 million in cash, a move expected to provide BB&T’s wholesale insurance business with scale and increase annual insurance revenue by 15%. BB&T reported Wednesday that the acquisition – which is […]
The Toronto-Dominion Bank reported Thursday its insurance revenues were $968 million during the three months ending Jan. 31, up 7.7% from $899 million during the same period a year earlier. TD writes home, auto, credit protection, travel and life and health. For the latest quarter, the bank did not report specifically on the performance of […]
BARCELONA, Spain – Ford CEO Mark Fields says the 112-year-old company is tripling its investment in new technologies that will ultimately lead to self-driving vehicles – but will keep making cars for drivers who want to keep their hands on the wheel. Fields said it was no coincidence that Ford chose the Mobile World Congress, […]
By Canadian Underwriter | February 24, 2016
The Royal Bank of Canada reported Wednesday its net earned premiums in insurance dropped 2.8%, from $902 million during the three months ending Jan. 31, 2015 to $876 million in the most recent quarter. In its financial results for investors, Toronto-based RBC – whose coverages include home, auto, health, travel, wealth, group and reinsurance – […]
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