Industry
Nearly two-thirds (63%) of C-suite executives report that their companies experience “significant” cyberattacks daily or weekly, but only 25% of them say their organization always incorporate measures in the design of their company’s technology and operating models to make them more resilient, according to a new survey from Accenture. Business resilience in the face of […]
By Canadian Underwriter | July 31, 2015
3 min read
Commercial insurance brokerage Aon plc released Friday its financial results for the three months ending June 30, reporting a 6% drop, year-over-year, in Q2 revenue from risk solutions and a 41% drop in net income. Total revenue decreased 4%, from $2.92 billion in the second quarter of 2014 to $2.805 billion in the most recent […]
2 min read
Saskatchewan Government Insurance (SGI), the province’s self-sustaining auto insurance fund, said on Friday that traffic enforcement in August will focus on commercial drivers. SGI, law enforcement officials, the Ministry of Highways and the Saskatchewan Trucking Association are all striving to create awareness that all motorists need to share the road safely, SGI said in a […]
Guelph, Ont.-based Co-operators General Insurance Company has reported that its Auto line of business remained the largest contributor to its net earned premium (NEP), increasing about $10.5 million in the second quarter of 2015, from $264.5 million in Q2 2014 to $275 million for the three months ending June 30. The Home line went from […]
Industrial Alliance Insurance and Financial Services Inc. of Quebec City released Thursday its financial results for the second quarter, reporting a 2.6% increase, year-to-year, in premiums from general insurance and a 21% increase in net earnings. In general insurance, Industrial Alliance reported net premiums, premium equivalents and deposits of $73.1 million in Q2 2015, up […]
By Canadian Underwriter | July 30, 2015
1 min read
Arch Capital Group Ltd. has reported a net income of US$110.3 million for the second quarter of 2015 (ending June 30), compared to US$202.5 million for Q2 2014 and a combined underwriting ratio of 87.9%, compared to 86.2% for the same quarter in 2014. The company also reported on Wednesday an after-tax operating income of […]
Risks will drive a US$10 billion cyber insurance market by 2020, suggests ABI Research, a London, United Kingdom-based technology market intelligence company with offices in North America, Europe and Asia. With over 900 million reported records exposed in 2014, ABI Research said in a press release on Wednesday, “more companies are seriously starting to consider […]
Swiss Re has reported a net income for the second quarter of US$820 million, compared to US$802 million in Q2 2014, driven by a strong increase in Life & Health Reinsurance. For the second quarter of 2015, Property & Casualty Reinsurance delivered a net income of US$453 million, compared to US$553 million for Q2 2014. […]
Kingsway Financial Services Inc. (KFS) is reporting an operating loss of US$2.499 million for the second quarter of 2015 compared to income of US$1.314 million for the same quarter of 2014, but adds the moves made in the second quarter to make the company simpler are positive for the future. The operating loss in 2015 […]
In a relatively stable insurance market, businesses paid nearly 1% (.99%) less in 2014 than they did in 2013 to cover the total cost of risk (TCOR) after three consecutive years of increases, according to the 2015 RIMS Benchmark Survey. Released on Wednesday, the survey – produced by RIMS, the Risk Management Society, and Advisen […]
By Canadian Underwriter | July 29, 2015
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