Industry
Fear, uncertainty and doubt over the possibility of cyber attacks and data breaches may be producing greater security risks as organizations veer away from tried-and-true, risk-based tactics, notes a new survey from Gartner Inc. That fear is causing security professionals to shift focus away from disciplines such as enterprise risk management and risk-based information security […]
By Canadian Underwriter | November 11, 2013
3 min read
FRANKFURT, Germany – Insurer and investment manager Allianz SE says it’s raising its profit outlook for the year after profit rose 5.4 per cent in the third quarter. The company said Friday it will make slightly more than 9.7 billion euros ($13.0 billion) this year. That was previously the upper range of the forecast. Allianz […]
By Canadian Underwriter | November 8, 2013
1 min read
The microinsurance sector in Asia and the Oceania region has shown a 40% annual growth rate between 2010 and 2012, according to new research from the Munich Re Foundation and Germany’s GIZ. That translates to 172 million lives and properties covered, according to the research. The growth was led by India, with more than 100 […]
2 min read
EGI Financial Holdings Inc., whose subsidiaries’ products include non-standard auto insurance, has reported a net loss of $5.068 million on gross written and assumed premiums of $62.7 million for the third quarter of the year. That compares to net income of $13.879 million on gross written and assumed premiums $53.56 million in the third quarter of […]
CAA South Central Ontario has contracted technology provider Quindell to provide its auto club members and insurance policyholders with new telematics services. The deal is the second of what Quindell says are several contracts expected to be announced by the end of the year. It is also the largest North American deal for Quindell to […]
Industrial Alliance Insurance and Financial Services has reported a net income of $105.8 million for the third quarter of the year. Excluding the gain on the sale of the United States annuity business a year ago, net income increased by 61%, the company reported. Premiums and deposits amounted to $1.6 billion in the third quarter, […]
By Canadian Underwriter | November 7, 2013
Aviva plc has reported a growth in its value of business for the first nine months of the year, and a combined operating ratio for its general insurance business in Canada of 95.2%. “Progress is in line with our expectations and we remain focused on delivering cash flow plus growth,” Mark Wilson, the group CEO […]
Commercial brokerage Integro (Canada) Ltd. announced this week it has acquired Multimedia Risk Inc., a Winnipeg-based brokerage specializing in insurance services for motion picture and television production companies. Integro Canada’s corporate parent is New York City-based Integro Ltd. Integro Canada has offices in Montreal, Toronto and Vancouver. Integro stated that Multimedia Risk has brokered coverage […]
Just days after announcing the closure of its Moncton, N.B. branch, Economical Insurance said Thursday it is also closing its branch in Hamilton, Ont. “Underwriting operations managed out of that office will transition to other Economical locations in southwestern Ontario while several claims, commercial insurance and business development staff were offered the opportunity to work […]
The Insurance Institute of Canada elected a new chair of its board of governors at its recent 60th annual general meeting in Toronto. On Oct. 19, the institute elected Silvy Wright, president and CEO of Northbridge Financial Corp., as its chair. “The standardization of The Insurance Education across Canada, with a uniform syllabus, uniform examinations, […]
By Canadian Underwriter | November 6, 2013
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