Industry
RSA Group has reported an underwriting profit for Canada of 56 million pounds (£) for the first half of the year, ending June 30, with a combined ratio of 92.3% from 100.7% in the first half of 2014. Underwriting profit for the first half of 2015 was £56 million, compared to a £4m loss in […]
By Canadian Underwriter | August 6, 2015
3 min read
Three residents of British Columbia’s Lower Mainland have received fines totalling $5,000 for attempting to defraud the Insurance Corporation of B.C. (ICBC). The trio was found guilty of making fraudulent injury claims from a crash in which two of the individuals were never involved, notes a statement last week from ICBC. One person was fined […]
2 min read
Entities affiliated with Odyssey Investment Partners, LLC have come to an agreement with Integro Ltd. to acquire the international insurance brokerage and risk management firm for an undisclosed amount. The move will position Integro – the company and its family of specialty insurance and reinsurance companies operate from more than 40 offices in the United […]
Nearly half of property & casualty insurance consumers surveyed in 33 countries reported they have purchased a policy online but only 16% of personal lines P&C and life customers were certain they would buy more products from their current insurance providers, consulting and outsourcing firm Accenture plc announced Tuesday. Accenture released a report, titled Capturing […]
By Canadian Underwriter | August 5, 2015
Hannover Re has comfortably surpassed half of its full-year profit target for 2015 during the first six months of the year, posting Group net income of 531.9 million euros compared with 444.4 million euros for the same period in 2014. The change represented a 19.7% year over year, notes a press release Wednesday from the […]
4 min read
United States’ President Barack Obama has announced the Clean Power Plan, carbon pollution standards for power plants that the White House calls a “historic step” in the fight against climate change. A press release from the White House Office of the Press Secretary on Monday said that the Clean Power Plan establishes the first-ever national […]
By Canadian Underwriter | August 4, 2015
American International Group, Inc. (AIG) has reported net income attributable to the company at US$1.8 billion for the second quarter of 2015 ending June 30, compared to US$3.1 billion in the same quarter of 2014. After-tax operating income was US$1.9 billion for Q2 2015, compared to US$1.8 billion in the prior-year quarter. Compared to the […]
PartnerRe Ltd. and Axis Capital Holdings Ltd., which write reinsurance and commercial primary insurance worldwide, announced Monday they have terminated a merger agreement now that PartnerRe has “reached a definitive agreement” to be bought by EXOR S.p.A. for about US$6.9 billion. Both PartnerRe and Axis Capital are based in Pembroke, Bermuda and have branch offices […]
The Allstate Corporation has reported US$8.98 billion in revenues for the second quarter of 2015, reflecting a 4.7% increase in insurance premiums from the prior year quarter, while net income was US$326 million for the quarter and US$974 million for the first six months of the year. Allstate, which is headquartered in Northbrook, Ill. and […]
XL Group plc posted operating net income of US$245.8 million in 2015 Q2, down US$33.8 million from 2014 Q2, but company CEO Mike McGavick reports that he is pleased with progress made to date for combined XL Catlin. XL Group’s operating net income – net income (loss) attributable to ordinary shareholders, excluding net investment income, […]
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