Industry
RSA Canada reported an underwriting profit in 2009 of $112 million, in spite of what the company described as tough economic conditions, a significant increase in weather losses and regulatory uncertainty in the auto market.Premiums increased to $1.8 billion, driven by organic growth and acquisition activity, the company reported. “We continue to drive the business […]
By Canadian Underwriter | February 25, 2010
1 min read
Eighty-three per cent of British Columbians are concerned about fraud, and 95% have taken preventative steps to avoid becoming a victim, according to the TD Canada Trust Fraud Prevention Month Poll.Conducted by Angus Reid, the survey asked questions of 1,059 Canadians with credit cards if they were concerned about fraud. The total sample yielded 120 […]
Aviva Canada is continuing to recruit new members to its executive team, following the appointment earlier this year of Maurice Tulloch as its CEO.James Russell has been appointed as Aviva Canada’s chief underwriting officer. Russell has held several executive roles in corporate actuarial, operational pricing and analysis since joining the company in 2001. Most recently, […]
It is premature to conclude that all parts of the world have experienced peak transmission of the H1N1 pandemic influenza, according to an emergency committee that advises the World Health Organization. Furthermore, additional time and information is needed to provide expert advice on the status of the pandemic. It was suggested that the committee reconvene […]
By Canadian Underwriter | February 24, 2010
XL Insurance has appointed Seraina Maag as the chief executive of its North America Property and Casualty unit. She succeeds Dennis Kane, who is retiring at the end of the year.Maag most recently headed the Zurich North America commercial specialties business unit, managing all aspects of that operation. Based in New York, she will report […]
W.R. Berkley Corporation reported a net income of $309 million in 2009, an increase over the $281 million it reported in 2008.The firm’s international operations reported a combined ratio of 100.1% for 2009, marking a slight decrease from 2008’s combined ratio of 100.6%.The international operation’s net premiums written also improved from $311 million in 2008 […]
2 min read
After a year in which trust in business sunk to historic lows, Canada stood out on the world stage with its increased trust in the insurance industry, according to the 2010 Edelman Trust Barometer.Conducted by public relations firm Edelman, the 2010 Edelman Trust Barometer survey tested the trust and confidence of people in business generally, […]
Ship owners experienced a more benign protection and indemnity (P&I) renewal at Feb 20, 2010, according to Aon Risk Services. General increases ranged between 0% and 12.5%, with a market average of 4.54%, the marine division of Aon reported. Owners faced general increases between 10% and 29% in 2009. “Aon predicts that if the clubs […]
By Canadian Underwriter | February 23, 2010
Claims
Greenhouse warming will cause the globally averaged intensity of tropical cyclones to shift towards stronger storms, with intensity increases of between 2% and 11% by 2100, says an article published in Nature Geoscience.“Existing modelling studies also consistently project decreases in the globally averaged frequency of tropical cyclones, by 6–34%,” says an abstract of the study, […]
The Jan. 1, 2010 renewals saw a slight softening of rates in Canada, according to a Guy Carpenter GC Capital Ideas report. Property per risk covers with little or no loss activity averaged reductions of 3% to 6%, while greater loss activity pushed rates up on average 5% to 10%, according to the report, Canada […]
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