Industry
Intact Financial Corp., which has the greatest market share in the Canadian property & casualty insurance market, released Wednesday its financial results for the three months ending March 31, reporting a 5% increase, from Q1 2014, in direct premiums written, and a combined ratio of 93.4%, down 3.7 points from 97.1% in Q1 2014, while […]
By Canadian Underwriter | May 6, 2015
6 min read
The Allstate Corporation, the United States’ largest publicly held personal lines insurer providing auto, home, life and other types of insurance to customers in the U.S. and Canada, reported a Property-Liability combined ratio of 93.7 in the first quarter of 2015, one point favorable to the prior year quarter. This resulted in underwriting income of […]
2 min read
Nearly two-thirds of insurers expect that wearable technologies will be adopted broadly by the insurance industry in the next two years, according to a global survey released on Tuesday by Accenture, a management consulting, technology services and outsourcing company. The report, Accenture Technology Vision for Insurance 2015—Digital Insurance Era: Stretch Your Boundaries, highlights emerging developments […]
SCOR’s rigorous implementation of its strategic plan, coupled with profitable growth in both its Life and Property and Casualty businesses, helped propel the company’s net income for 2015 Q1 almost 30% higher than it was in 2014 Q1. The net income (consolidated net income, Group share) for the first quarter of 2015 was 175 million […]
3 min read
The Co-operators announced on Tuesday that it has purchased a majority interest in The Edge Benefits, a Newmarket, Ont.-based company that provides self-employed and small business owners with lifestyle protection and complex living benefits solutions. The Cooperators said in a press release that the current management team will remain in place and The Edge Benefits […]
By Canadian Underwriter | May 5, 2015
Economical Insurance, a property and casualty insurance company in Waterloo, Ont., reported a combined ratio of 105.7% for Q1 2015, compared to the 105.5% reported in the same quarter a year ago, but also consolidated net income of $34.2 million for Q1 2015 compared to $1.0 million during the same period a year ago. The […]
The Insurance Corporation of British Columbia (ICBC), police forces and the B.C. government are launching a month-long campaign focusing on the failure to yield and other high-risk driving behaviour. Every year, 1,300 pedestrians are injured or killed in crashes at intersections in B.C., according to an ICBC-reported five-year average from 2009 to 2013. Failing to […]
Endurance International Group, a technology company in Burlington, Mass. that helps power small and medium-sized businesses online, released on Monday the results of its 2015 Small Business & CyberSecurity survey, which found 31% of small businesses in the United States have experienced a cyber attack or attempted cyber attack. The survey of 1,016 small businesses […]
PartnerRe Ltd., a Bermuda-based reinsurer and commercial insurance carrier with a Toronto office, announced Monday its board of directors has rejected a takeover offer from investment firm EXOR S.p.A. and proposed new terms of a previously-announced offer to merge with a different insurer, Axis Capital Holdings Ltd. Last January, PartnerRe and Axis Capital announced that […]
4 min read
XL Group plc and Catlin Group Limited have launched a new brand, XL Catlin, effective Monday. A new global marketing campaign – Insurance for a Bold New World – reflecting the “greater scale, ambition and opportunity for the combined company to develop innovative risk solutions for complex risk problems” will launch on Tuesday. The announcement […]
By Canadian Underwriter | May 4, 2015
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