Industry
Explosions Aug. 12 in the Chinese port of Tianjin contributed 9.5 points to OdysseyRe’s combined ratio in the quarter ending Sept., 30, the insurer’s parent company reported Thursday, while Toronto-based Northbridge Insurance had a 9.1% drop in Q3 net premiums earned and an 8.8-point improvement in its combined ratio. Toronto-based Fairfax Financial Holdings Ltd. released […]
By Canadian Underwriter | October 30, 2015
4 min read
TORONTO – A bill that would make Uber and Airbnb legal in Ontario passed second reading in the legislature Thursday. Former Progressive Conservative leader Tim Hudak’s private member’s bill would allow ride-sharing, home-sharing and parking-sharing apps such as Rover, which lets Toronto homeowners rent their parking spots for $2 an hour, to operate. Hudak, who […]
2 min read
The Co-operators General Insurance Company has reported a combined ratio of 104% for the third quarter of 2015, down from 109.2% in the third quarter of 2014. Co-operators General is part of The Co-operators Group Limited, a Canadian-owned co-operative. Through its group of companies, it offers home, auto, life, group, travel, commercial and farm insurance, […]
3 min read
Taking a consumer-based approach to auto insurance is what allowed New Jersey to punt the perennial political football from the state arena and create a truly competitive market – something that Holly Bakke suggests Ontario could accomplish as well. “What we learned in New Jersey was that our success was completely and, ultimately, dependent on […]
5 min read
Gore Mutual Insurance Company announced on Thursday that it has partnered with eight insurance brokers to launch uBiz, an ecommerce platform that enables brokers to offer commercial insurance through their digital channels. uBiz leverages agile technology to enable customers to design their own insurance coverage and buy it instantly and securely online, Gore Mutual said […]
By Canadian Underwriter | October 29, 2015
Arch Capital Group Ltd. has reported a 2.2-point improvement in its Q3 insurance combined ratio and a 5.8-point deterioration in its reinsurance combined ratio, while Q3 gross written premiums increased 3.5% year over year. Hamilton, Bermuda-based Arch released Wednesday its financial results for the three months ending Sept. 30. Gross written premiums in the latest […]
Aviva plc announced on Thursday that the combined operating ratio (COR) in Canada improved 2.6 percentage points to 94.2% in the nine months ending Sept. 30 from 96.8% in the nine-month period in 2014, “reflecting better overall weather experience, offset mainly by large loss experience in personal property.” Overall, the General Insurance COR improved to […]
Small business owners in British Columbia, Alberta and Ontario can now purchase their business and liability insurance from their computers or smartphones in as little as 90 seconds, according to Bullfrog Insurance, a Mississauga, Ont.-based online brokerage. “We have simplified what can typically be a very confusing and time consuming process for many small business […]
By Canadian Underwriter | October 28, 2015
PartnerRe Ltd. released Monday its financial results for the three months ending Sept. 30, reporting a 1.4-point improvement in its Q3 combined ratio and a 7% drop, on a constant foreign exchange basis, in net premiums written in non-life. Pembroke, Bermuda-based PartnerRe writes reinsurance and specialty commercial primary insurance worldwide. It has a Toronto branch […]
By Canadian Underwriter | October 27, 2015
Kingsway Financial Services Inc. has reported a net income of US$3.1 million for the nine months ending Sept. 30 compared a net loss of US$13.7 million in the same prior year period. Kingsway, a holding company functioning as a merchant bank with a focus on long-term value-creation that owns or controls stakes in several insurance […]
By Canadian Underwriter | October 26, 2015
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