Industry
Aon plc has reported a net income attributable to shareholders for the third quarter of the year of $256 million, up from $204 million in the same period of 2012. “Our third quarter results reflect positive performance across each of our key metrics highlighted by strong operating margin improvement of 110 basis points in our […]
By Canadian Underwriter | October 25, 2013
2 min read
Bundling various functions in a mobile application and managing customers’ deliver preferences for information are among the top innovations that are allowing insurers to improve customer experience, according to briefing from Strategy Meets Action. In a previous report, the firm noted that insurers are moving from a product-centric approach to a customer-centric one, among other […]
By Canadian Underwriter | October 24, 2013
Critical infrastructure in the United States, and in the power and utilities sector in particular, is facing an increase in cyber attacks, leading to stronger regulation and the need for insurance coverage, according to a briefing from Marsh. The energy industry faced more cyber attacks between October 2012 and May 2013 than any other sector, […]
IBAO Convention 2013 – The Ontario government will soon be taking a look at the issue of credit unions selling insurance products online, Premier Kathleen Wynne said during the Insurance Brokers Association of Ontario’s (IBAO) annual general meeting in downtown Toronto Wednesday. “We’re going to look at the issue of online selling of insurance products […]
3 min read
IBAO Convention 2013 – Ontario Premier Kathleen Wynne suggested Wednesday to a room full of brokers that the ruling Liberals are committed to maintaining competition in private passenger auto while reducing fraud. “Competition in this industry is healthy for both drivers and for brokers,” Wynne said during the Insurance Brokers Association of Ontario (IBAO) annual […]
ACE Ltd. has reported a net income of $916 million for the third quarter of the year, up from $640 million in the comparable quarter of 2012. The company’s net operating income also increased over last year’s third quarter, from $688 million then to $857 million. For the first nine months of the year, ACE […]
By Canadian Underwriter | October 23, 2013
International insurers across all lines in the Europe, Middle East and Africa region are “regaining their appetite for mergers and acquisitions,” according to a new survey from Towers Watson. Of more than 250 senior M&A executives interviewed as part of the survey, conducted in partnership with global intelligence firm Mergermarket, seven out of 10 said […]
Gore Mutual and RSA Canada have begun “active discussions” to use the recently-announced telematics model from the Independent Broker Resources Inc. (IBRI), the Insurance Brokers Association of Ontario said Wednesday. “We look forward to future success with both Gore Mutual and RSA, as well as many other insurer stakeholders. The positive feedback we have been […]
The Travelers Companies Inc. has reported a net income of $864 million for the quarter ended Sept. 30, a result consistent with the prior year quarter. The insurer reported an operating income of $883 million for the quarter, up from $867 million last year. Net written premiums for the three months were about $5.71 billion […]
By Canadian Underwriter | October 22, 2013
Ernst & Young Global Ltd. (EY) released Tuesday the results of a survey of insurance firms in which the majority reported “legacy technology” was dragging their “digital growth” and few used predictive modeling for certain computerized sales campaigns. “In the Americas, 96% of insurers cite legacy technology constraints as a major impediment to growth,” EY […]
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