Industry
Zurich Financial Services Group reported a profit of $935 million for 2010 Q1, an increase of 76%. The company reported a return on equity of 13.2% for the first quarter. The general insurance segment posted gross written premiums and policies of $10 billion, marking an increase from 2009 Q1’s $9.8 billion. The general insurance combined […]
By Canadian Underwriter | May 6, 2010
1 min read
PPG has launched a Web-based marketing portal for its PPG collision repair shop customers. The portal, developed in conjunction with Infogroup Inc., will provide MVP collision centers and CertifiedFirst Network participants access to Canadian and U.S. business data, as well as U.S. consumer material. Users will be able to develop targeted marketing lists and conduct […]
RSA’s group results in 2010 Q1 have been buoyed by RSA Canada’s results, according to an RSA ‘Interim Management Statement’ posted on its Web site.Also, RSA stated its losses due to the Chilean earthquake were estimated to cost about £30 million (Cdn$46.5 million), net of reinsurance.RSA Group reported strong premium growth in Canada in personal […]
Nancy McKinstry has been appointed chair of the board of directors of the Insurance Corporation of British Columbia (ICBC).McKinstry received the Order of Canada in 2005. She has served on corporate, university and non-profit boards in recent years, and spent more than two decades with Odlum Brown Ltd., most recently as a senior vice president […]
Swiss Re anticipates $200-million worth of pre-tax losses arising from the explosion of the Deepwater Horizon oil rig in the Gulf of Mexico. In its 2010 Q1 financial statements, the reinsurer said it expects the total insured market loss from this event to be in the range of $1.5 billion to $3.5 billion.As for its […]
New Brunswick’s superintendent of insurance has issued a discussion paper on credit scoring, in which the regulator says the use of credit scoring for underwriting auto insurance should be banned, but it is willing to discuss the appropriateness of applying the same measures to residential property insurance.New Brunswick has introduced Bill 43, which creates new […]
2 min read
The Aviva Community Fund competition will return again this year, with Aviva Canada offering $1 million to support community initiatives across Canada. This doubles the company’s $500,000 pledge in 2009.The second installment of the competition will begin in the fall. More than 2,000 ideas were proposed during last year’s competition. Eight community winners were selected. […]
By Canadian Underwriter | May 5, 2010
The Co-operators reduced its carbon footprint by 12% in 2009, compared to 2007 baseline measurements, according to The Co-operators Sustainability Report 2009.After energy assessments at nine of its corporate offices, The Co-Operators implemented a number of energy efficiency improvements. For example, the company invested more than $130,000 in technology to allow for almost 6,000 hours […]
A mild winter and improving market conditions have boosted Intact Financial Corporation’s 2010 Q1 results.The company’s 2010 Q1 profit was $119.7 million, compared to a $36.3-million loss during the same period last year. The company’s combined ratio improved six percentage points during the quarter, down to 93.2%. The company’s operating ratio reached 10.9% in 2010 […]
Size does matter when it comes to writing commercial lines, although the effects vary depending upon whether Canadian commercial insurers are writing property or liability insurance, according to the Q4-2009 MSA/Baron Outlook Report.In her article ‘Commercial Lines — Does Size Matter?’ author Barb Addie notes that “over the years, there has been an ongoing debate […]
By Canadian Underwriter | May 4, 2010
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