Industry
Arthur J. Gallagher & Co. released Tuesday its financial results for the second quarter, reporting a 24% year-over-year increase in adjusted brokerage revenues during a time when it made 13 acquisitions in its brokerage and risk management business. Itasca, Ill.-based Gallagher reported revenues of $1.371 billion in three months ending June 30, up 16.3% from […]
By Canadian Underwriter | July 29, 2015
2 min read
SCOR is on track to achieve targets in its “Optimal Dynamics” strategic plan, announcing Wednesday that its net income for the first half of 2015 was 327 million euros, 27.7% higher than it was for the first six months of 2014. The 327 million euros compares to 256 million euros for the first half of […]
3 min read
London, United Kingdom-based Willis Group Holdings plc, the global risk advisory, re/insurance broking, and human capital and benefits firm, has reported a net income of US$70 million in the second quarter of 2015, ending June 30, compared to net income of US$47 million in the same quarter in the prior year quarter. Willis, which operates […]
Intact Financial Corporation’s net operating income for 2015 Q2 was $210 million – up 2% from the same quarter of 2014 – aided by all business lines contributing to organic growth in direct premium written (DPW) and higher underwriting income. Net operating income for the first six months of 2015 was also up, increasing 18% […]
4 min read
PartnerRe Ltd., a Pembroke, Bermuda-based reinsurer and commercial insurance carrier with a Toronto branch office, reported Monday it had a combined ratio in of 90.3% in the three months ending June 30, though Q2 revenues dropped 28.3% year over year. PartnerRe reported gross premiums written of $1.43 billion in Q2 2015, down 2% from $1.46 […]
Marsh & McLennan Companies Inc. reported US$1.47 billion, in Q2 2015, in revenue from commercial insurance brokerage Marsh Inc. Marsh & McLennan Companies Inc. released Tuesday its financial results for the three months ending June 30, reporting a 6.1% increase, year over year, in Q2 revenue from Marsh Inc. in the United States and Canada […]
By Canadian Underwriter | July 28, 2015
Digital payments using wearable devices such as smartwatches, fitness trackers and payment wristbands will grow dramatically from US$3.1 billion in 2015 to US$501.1 billion worldwide by 2020, suggests a new report from market intelligence firm Tractica. Wearable payment systems may utilize near field communication, radio frequency identification, or quick response (QR) codes and barcodes as […]
By Canadian Underwriter | July 27, 2015
The start of 2015 has continued on the Insurance Linked Securities (ILS) market’s record-setting pace from last year, with a record US$2.69 billion of bonds called or matured, according to the Swiss Re Insurance Linked Securities Market Update, released on Monday. The report said that “a tsunami of maturities” preceded a blizzard of new issuance […]
The need for effective security governance is reflected in results of a recent global survey of 964 people that shows a growing trend for establishing primary security function outside of IT, notes Gartner Inc. In a study released Friday, 71% of respondents – large organizations, from seven countries, with at least US$50 million equivalent in […]
CAA South Central Ontario (CAA SCO) announced on Monday that it is launching its Heads Up! campaign with the help of the provincial Ministry of Transportation, Ontario Provincial Police, York Regional Police and the Toronto Police Service. The aim of the campaign is to raise awareness and educate drivers about the new laws and regulations […]
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