Industry
Quarterly figures over the past three years confirm what is visible to all who have followed the (re)insurer’s latest 2008 Q2 results: insurance companies’ loss ratios are starting to become a problem. This is true in all lines of business. For federally-regulated insurers, both licensed in Canada and abroad, loss ratios have been on a […]
By David Gambrill, Editor | September 30, 2008
3 min read
CANADIAN P&C INSURERS’ RESULTS IMPROVE FROM Q1 TO Q2 IN 2008, BUT DECLINE OVER 2007 Canadian and foreign property and casualty insurers licensed by the Office of the Superintendent of Financial Institutions (OSFI) reported better financial results in 2008 Q2 than they did during the first quarter of 2008. But they were still well off […]
September 30, 2008
IBAO president-elect Peter Blodgett says that a top priority for the association is to foster the continued growth of the broker channel
By Vanessa Mariga, Associate Editor | September 30, 2008
5 min read
Quebec brokers believe auto replacement guarantees sold by car dealers are insurance products that should be sold by licensed brokers.
By Johanne Lamanque, Regroupement des cabinets de courtage d'assurance du Quebec (RCCAQ) | September 30, 2008
4 min read
Swiss Re expects growth in direct premiums written (DPW) in Canada’s overall property and casualty industry will be less than 3% in 2008, down from 2007’s growth of 4.3%”Direct premiums written growth slowed to 1.8% [year-over-year] in [2008 Q1] from 3.7% [year-over-year] in [2007 Q1],” Swiss Re noted in its 2008 Q2 newsletter, Canada Property […]
By Canadian Underwriter | September 30, 2008
1 min read
AXIS Reinsurance Company, a subsidiary of AXIS Capital Holdings Limited, has been authorized to operate as a branch insurer underwriting property and casualty insurance and reinsurance business in Canada.”We are looking forward to bringing our specialized capabilities in both insurance and reinsurance to bear as we establish our branch in Canada,” Dennis Reding, COO of […]
Average base salaries of American chief risk officers (CROs) outpace those of their Canadian counterparts by roughly $30,000, reports the Risk and Insurance Management Society’s Risk Management Compensation Survey.The 2008 survey presents compensation data for 11 different positions; for the first time, it includes information on CROs. The results reflect data submitted by individual risk […]
Fairfax Financial Holdings Limited (TSX and NYSE: FFH) has entered into an agreement to purchase roughly 9.5 million common shares of Ridley Inc. (TSX: RCL) from its Australian parent, Ridley Corporation Limited, for Cdn$81 million. The transaction, expected to close Oct. 20, 2008, is subject to certain closing conditions, Fairfax notes in a release. “The […]
By Canadian Underwriter | September 29, 2008
Independent brokers and Manitoba Public Insurance (MPI) have entered into an accord for a new compensation model that will support a more convenient renewal process and new product offerings for customers in the future.The plan includes the following features: The gradual decrease in commissions for Basic Autopac sales will be offset by an immediate increase […]
Transatlantic Holdings Inc. (NYSE: TRH) has established a special committee to evaluate proposals received from American International Group Inc. (“AIG”) related to the possible sale of AIG’s 59% common stock interest in the company.Commenting on these actions, Robert F. Orlich, the chairman, president and CEO of Transatlantic Holdings, said: “The special committee is working with […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
