Industry
SCOR Global P&C grew gross premiums 5% to 3.4 billion euros during the January 2014 renewals, results that contribute to the company’s belief that it is well-positioned for the “tiering” of the reinsurance market. “The January 2014 renewals confirm our analysis of the ongoing ‘bifurcation’ of the reinsurance market and reinforce our conviction that SCOR […]
By Canadian Underwriter | February 6, 2014
3 min read
Regulatory changes and increased scrutiny by regulators have topped the list of risks for executives, according to a new survey report from consulting firm Protiviti. “The pressures created by regulators, plus the potential for major adjustments in light of regulatory change, are understandably tremendous concerns and present substantial risk,” Dr. Mark Beasley, Deloitte Professor of […]
By Canadian Underwriter | February 5, 2014
Intact Financial Corp. stated Wednesday it plans to launch usage-based insurance in Ontario in April and will drop rates, by 5% on average, by targetting discounts to safe drivers. In the management discussion and analysis of its 2013 financial results released Feb. 5, Toronto based Intact referred to the Ontario government’s mandated 15% reduction, over […]
After 15 years in the role, Gore Mutual’s president and chief executive officer Kevin McNeil will retire, effective June 30, the company announced Tuesday. In line with Gore Mutual’s succession plan, the board of directors announced that Heidi Sevcik, currently vice president of claims, will become chief operating officer, reporting to McNeil, effective Feb. 17. […]
2 min read
EDMONTON – The president of Atco Pipelines says the company has decided to replace aging natural gas pipelines that are dangerously close to schools, homes and businesses in Edmonton and Calgary. Brian Hahn says the project should be completed within five years. Hahn says the safety of the communities is the company’s priority. The replacement […]
By The Canadian Press | February 4, 2014
1 min read
Saskatchewan Government Insurance announced Tuesday that the province’s Motorcycle Review Committee report is now public and has been presented to the government for review. Recommendations include increasing the requirements for acquiring a learner’s licence, mandatory gear for new riders and their passengers and to require inspections prior to registering a total loss motorcycle or a […]
By Canadian Underwriter | February 4, 2014
Symbility Solutions Inc. announced Monday it is renewed a multi-year contract with Saskatchewan Government Insurance to integrate its cloud-based claims settlement technology into SGI Canada’s operations. Toronto-based Symbility provides claims processing workflow software to insurance companies. “Symbility Solutions offers an excellent workflow management platform and estimating application that is perfectly adaptable to SGI CANADA’s requirements,” […]
Provisional calculations indicate Munich Re has surpassed its profit guidance of 3 billion euros and improved its consolidated result in 2013 to 3.3 billion euros, the company reported Tuesday. The 3.3 billion euros compares to 3.2 billion in the previous year, notes a statement from Munich Re. In 2013 Q4, Munich Re posted a profit […]
Expansion of Q-Re’s portfolio in 2013 has fuelled a marked increase in renewals, with the company reporting it expects to write approximately US$269 million of property, casualty and speciality lines premiums from the January 1 renewals (excludes Lloyd’s participations). “On a constant foreign exchange basis, this volume represents an increase of 43% from the 2013 […]
The acquisition by Desjardins Group of the Canadian operations of State Farm is not just about insurance, a former chief executive officer of The Dominion of Canada General Insurance Company said Friday. “It’s going to be a play of some kind around combining financial services types of products into one distribution model,” said George Cooke, […]
By Canadian Underwriter | February 3, 2014
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