Industry
Mainstream adoption of technology is having a major effect on the way auto insurance customers interact with their insurance provider, according to the J.D. Power & Associates 2013 Canadian Auto Insurance Satisfaction Study. As many as one-third of all customer interactions – an increase of as much as seven percentage points over 2012 — are […]
By Canadian Underwriter | May 3, 2013
3 min read
XL Group plc (NYSE: XL) has released its financial results for the first quarter of the year, reporting a net income of $350.8 million, up significantly from $176.6 million in the same quarter of 2012. For the three months ended March 31, 2013, XL reported an operating net income of about $279.9 million, an increase […]
2 min read
Marsh & McLennan Companies has reported a strong start to the year in its first quarter financial earnings, recording net income of $413 million, compared with $347 million in the same quarter last year. For the three months ended March 31, 2013, the organization reported consolidated revenue of $3.1 billion, a 2% increase over the […]
American International Group, Inc.’s (AIG) financial results for 2013 Q1 compared to 2012 Q1 – which show a significant hike in insurance operating income – offer encouragement to move forward with efforts to achieve the company’s 2015 aspirational goals. On Thursday, AIG reported net income of $2.2 billion and after-tax operating income of $2 billion […]
Ontario’s Liberal government released its 2013 budget Thursday, outlining potential changes to the rate filing process, the return-on-equity benchmark for insurers and measures aimed at addressing fraud, all part of the larger target of a 15% average reduction in auto insurance premiums. Earlier in the week, the government announced it would introduce legislation and amendments […]
By Canadian Underwriter | May 2, 2013
4 min read
Grain Insurance has a new name and a new brand: Wynward Insurance Group. The company unveiled the new name and its new logo on May 2, reflecting its evolution into a highly differentiated, customer-focused company. The updated brand is the result of an intensive design and creative process and will appear across all customer experience […]
Swiss Re has seen a 21% increase in net income for the first quarter of 2013 — from $1.1 billion in 2012 Q1 to $1.4 billion in 2013 Q1. All figures are in U.S. currency. Very strong underwriting performances across the company’s property & casualty reinsurance and corporate solutions businesses were key drivers of this […]
The Allstate Corp. reported a 7.4% drop in net income year-over-year for the three months ending March 31. Although consolidated revenues for the first quarter of 2013 were $8.463 billion – 1.2% higher than the same period in 2012 – first-quarter catastrophe losses also jumped 38.6% year-to-year, from $259 million in 2012 to $359 million […]
A number of communities in Saskatchewan have declared states of emergency in the wake of spring flooding that has hit some parts of the province hard. For example, the Village of Borden, about 50 km northwest of Saskatoon, noted in an advisory Monday that residents should be aware of potential flooding and that water levels […]
Risk managers are being forced to reconsider how they protect company data and proprietary information because of cyber threats and security and privacy breachs, according to a recent survey from Towers Watson. The Risk and Finance Manager Survey examined how North American companies use outside resources, tool and frameworks to address their risk exposure across a […]
By Canadian Underwriter | May 1, 2013
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