Industry
RSA Group has released its 2014 preliminary results, which showed that its combined ratio for Canada in 2014 was 98%, compared to 100.7% in 2013. Underwriting profit in Canada was £30 million last year, with a current year loss of £8 million and a prior year profit of £38 million. This compared to a £13 […]
By Canadian Underwriter | February 26, 2015
2 min read
Canada’s largest direct insurance writer, the Toronto-Dominion Bank, reported Thursday a 1.2% drop in first-quarter insurance revenues – including home, auto, life, health and travel – from $910 million in 2014 to $899 million in 2015. “Reported and adjusted insurance claims and related expenses for the quarter were $699 million, an increase of $16 million, […]
HALIFAX – One of Canada’s newest jails is researching the use of detectors to prevent the invasion of drug-bearing drones that have plagued some North American prisons. Tim Carroll, superintendent of the Northeast Nova Scotia Correctional Facility, said staff are examining ways to prevent unmanned aerial vehicles from lowering contraband into the jail’s airing yards […]
By The Canadian Press | February 26, 2015
Allianz Group saw operating profit increase to 10.40 billion euros in 2014, up 3.3% from 10.07 billion euros in 2013, with the Property and Casualty insurance segment delivering more than half of the Group total, notes a statement issued Thursday by the company. Broken down by line, of the 10.40 billion euros last year, Property-Casualty accounted […]
4 min read
The Royal Bank of Canada reported Wednesday its revenue from Canadian insurance – including home, auto, life, health and travel – was $1.89 billion in the three months ending Jan. 31 2015, up 94% from $770 million for the same period in 2013-14. In international insurance, revenue dropped 21%, from $512 million in the three […]
By Canadian Underwriter | February 25, 2015
Property and casualty insurers in Canada are encouraged to use data and analytics, as well as invest in people and technology, to develop a new approach better able to meet the current persistent cost pressures and market challenges, notes a report released today by Ernst & Young (EY). Improved use of data and analytics can […]
WATERVILLE, N.S. – An explosion that destroyed a house in Nova Scotia’s Annapolis Valley was caused by a combination oil and wood-burning furnace that overheated and ruptured, the provincial fire marshal says. The explosion was originally thought to be gas related, but Harold Pothier ruled that out after completing his assessment of the explosion that […]
By The Canadian Press | February 24, 2015
1 min read
The move to digitalize will be important for those in Canada’s property and casualty insurance industry looking to position themselves well for the future, Sylvie Paquette, senior vice president and general manager of p&c insurance at Desjardins Group, noted during a recent interview with Canadian Underwriter. “Your expectation as customers is not driven by your […]
By Canadian Underwriter | February 24, 2015
3 min read
An Ontario government bill proposing to raise distracted driving fines to a range of $300 to $1,000 – and to change the rules for rebranding damaged vehicles as either salvageable or irreparable – has been referred to committee. Bill 31, the Transportation Statute Law Amendment Act (Making Ontario’s Roads Safer), was referred Tuesday to the […]
Claims services firm Crawford & Company reported Monday a slight drop in revenues in 2014, though revenues for the Americas rose 5% from 2013. Atlanta-based Crawford released its financial results for 2014, reporting full year consolidated revenues before reimbursements of $1.143 billion for 2014, down 1.7% from $1.163 billion in 2013. Net income attributable to […]
By Canadian Underwriter | February 23, 2015
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