Industry
A panel of experts on auto insurance contributions, whose mandate was to examine the insurance contributions proposed by the Société de l’assurance automobile du Québec (SAAQ) for 2016 2018, has concluded that no changes need to be made to the proposed insurance contributions, but issued 13 recommendations. “We believe that the insurance contributions proposed by […]
By Canadian Underwriter | April 30, 2015
2 min read
XL Group plc, a global insurer that offers property, liability, professional, surety, aviation and marine coverage from offices in Toronto, Vancouver, Calgary and Montreal, saw a p&c combined ratio of 88.9% for Q1 2015, compared to 89.7% in the prior year quarter. The first quarter results for the three-month period ending March 31, announced by […]
Kingsway Financial Services Inc. of Toronto, whose offerings include non-standard auto insurance in the United States, reported Thursday its second consecutive quarter of profitability after losing $36 million and $11.2 million in 2013 and 2014 respectively. Kingsway reported net income of $3.4 million in the first three months of 2015, compared to a loss of […]
3 min read
Sound underwriting and a benign natural catastrophe experience in 2015 Q1 resulted in Swiss Re’s property and casualty reinsurance arm posting net income of US$808 million compared with US$909 million in 2014 Q1, contributing to the company’s overall 17% increase in net income for the first quarter of this year. The underwriting and benign cat […]
4 min read
Arch Capital Group Ltd. released Tuesday its financial results for the three months ending March 31, reporting a 21.5% drop in reinsurance net premiums written, a 0.7% drop in insurance net premiums written and a 2.9-point increase in its combined ratio. Hamilton, Bermuda-based Arch’s subsidiaries include Toronto-based Arch Insurance Canada. Arch Capital reported a 1.3% […]
By Canadian Underwriter | April 29, 2015
MONTREAL – The City of Montreal’s taxi bureau is cracking down on ride-sharing service UberX and has seized 40 vehicles from drivers in recent weeks, prompting the company to say it will fight back in court. UberX is a service offered as part of Uber’s car-sharing smartphone app that links clients to drivers in privately […]
Willis Group Holdings plc, the global risk advisory, re/insurance broking and human capital and benefits firm, announced on Tuesday that organic commissions and fees in Willis North America grew 4.7% in the first quarter of 2015 compared with the first quarter of 2014. For the three months ending March 31, the segment’s underlying commissions and […]
NEW ORLEANS, La. – Businesses are urged to invest in protections against cyber risk and to create a culture of cyber resilience, recommends a new report released by Zurich Insurance Group and ESADE Center for Global Economy and Geopolitics at the RIMS 2015 Annual Conference & Exhibition. “The current state of regulation and the governance […]
Dalton Timmis Insurance Group Inc. of Hamilton announced Tuesday it has acquired Mainway Hunter Creighton Insurance Brokers. “The firm will continue to specialize in transportation, commercial and specialty lines, personal home and automobile insurance across Canada,” Dalton Timmis stated in a press release. “The transaction will be effective April 30th, 2015 when it has been […]
1 min read
ClaimsPro, an SCM company and a provider of independent adjusting services, announced on Wednesday the appointment of Ross Betteridge as its new president, succeeding Bob Fitzgerald, who assumed the role of CEO of SCM in January. “Betteridge brings tremendous industry experience and a proven track record to ClaimsPro,” SCM said in a press release. He […]
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