Industry
George L. Cooke has announced his retirement as president of The Dominion of Canada General Insurance Company (The Dominion). Cooke started his distinguished career with The Dominion in 1992 as president and CEO. He will remain CEO of The Dominion until Dec. 31, 2012, and will continue as executive vice president of E-L Financial until […]
By Canadian Underwriter | August 10, 2012
1 min read
Swiss Re reports a net profit of $83 million for the second quarter of 2012. The result was influenced by the sale at a loss of US$1 billion of the Admin Re U.S. business. Property and casualty reinsurance delivered a strong result while life and health reinsurance net income benefited from realized gains. “We have […]
By Canadian Underwriter | August 9, 2012
2 min read
Aviva plc reported its first-half 2012 interim operating profits were down 10% as a result of restructuring costs, foreign exchange and inclement weather in the United Kingdom. “Operating profit (including restructuring costs) was down 10% to £935 million [Cdn$1.45 billion]… as a result of the sale of RAC, adverse foreign exchange movements, the adverse impact […]
Micheal Taillon has been named Aon Risk Solutions Canada’s new national practice leader of energy. Taillon will use his three decades of experience in risk management and insurance to lead business development and provide oversight to the company’s energy practice, notes a statement from Aon. Although energy is a critical driver of economic growth in […]
Marsh & McLennan Companies, Inc. (NYSE: MMC) saw revenue increase in 2012 Q2 and in the first half of 2012. Consolidated revenue for the quarter ended June 30 was approximately $3 billion, up 3% from $2.9 billion in 2011 Q2, notes a press release from Marsh, a global professional services firm that provides advice and […]
By Canadian Underwriter | August 8, 2012
Western Financial Group and Falkins Insurance Group are taking on a more visible partnership presence in the Kootenay Region of British Columbia. To support the growing presence of the Western brand in the region, Falkins, a 115-year-old insurance brokerage based in British Columbia, will begin a co-branding transition incorporating the Western logo. Long-term plans announced […]
Hub International has announced that H. Ross Totten, who has served as president and CEO of Totten Insurance Group Inc., will assume the role of chairman and chief sales officer of the Totten Group, effective Sept. 1, 2012. Heather Masterson will move from Hub HKMB Ontario to become president and CEO of Totten Insurance Group […]
By Canadian Underwriter | August 7, 2012
Canada’s solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), is seeking comment on its Draft Revisions to the Corporate Governance Guideline, which, among other things, emphasizes the commitment of the organization to risk management principles. The draft revisions update OSFI’s current corporate governance principles, which have not been changed 2003. The 20-page […]
American International Group, Inc. (NYSE: AIG) reports net income of $2.3 billion attributable to AIG and after-tax operating income of $1.9 billion in 2012 Q2. Compare that to $1.8 billion and $1.2 billion, respectively, for the second quarter of 2011, notes a statement from the company. Results for the quarter ended June 30, 2012 were […]
By Canadian Underwriter | August 3, 2012
Reported net income from continuing operations at Willis Group Holdings plc was $107 million in 2002 Q2, up from $84 million in the second quarter of 2011. That translates to $0.61 per diluted share for the period ended June 30, 2012 compared with $0.48 per diluted share for 2011 Q2, notes a statement from Willis […]
By Canadian Underwriter | August 2, 2012
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