Industry
Gordon Kerr has accepted the role of CEO and chief agent of Arch Insurance Group’s Canadian insurance operations. Kerr was previously the chief operating officer of American International Group’s (AIG) Canadian commercial insurance operations.He replaces Michael Baxter, who will become worldwide chief underwriting officer for Arch Insurance Group’s Onshore Energy (Technical Risk) and CAR/EAR platforms, […]
By Canadian Underwriter | November 18, 2008
1 min read
Blake Craig, president of J. Leroy Gallant Insurance Limited, has been named president of the Insurance Brokers Association of Prince Edward Island.Craig succeeds the association’s past president, Karen Doiron, who currently serves on the board of directors for the Insurance Brokers Association of Canada.Craig is the grandson of J. LeRoy Gallant, who founded the family-owned […]
2 min read
*** CLARIFICATION/CORRECTION*** This item clarifies and corrects information contained in an item posted on Nov. 14. Zurich Financial Services has posted a Q3 net income after tax of US$154 million, marking a dramatic drop from the profit of US$1.5 billion quarter-over-quarter. Before taxes, it posted a Q3 loss of US$119 million, as compared to a […]
The Insurance Brokers Association of Canada (IBAC) says the Canadian Council of Insurance Regulators (CCIR) has “missed an opportunity” to implement a new licensing regime for sellers of incidental insurance products.The national insurance market conduct regulator has just released its much-anticipated Incidental Selling of Insurance Report. In it, the CCIR defines incidental sellers of insurance […]
By Canadian Underwriter | November 17, 2008
In terms of total revenue dollars, the amount independent brokers are investing in advertising is roughly half of that needed in order to compete with direct writers, said Randy Carroll, president and CEO of the Insurance Brokers Association of Ontario. Carroll told delegates of York Fire and Casualty Insurance’s Executive Forum that, on average, Ontario […]
Claims
Desjardins Group reported a 2008 Q3 profit of Cdn$149 million, down Cdn$99 million or 39.9% from the corresponding quarter last year. The company’s quarterly return on equity (ROE) fell to 6.2% compared to 11.0% in 2007 Q3.“These results reflect the sharp deterioration in capital markets during the third quarter, causing stock market gyrations and unprecedented […]
In insurance mediation, there are two different styles of mediators: facilitative and evaluative, and choosing the proper style could affect the timeliness of an agreement, Michael T.J. McGoey, defence counsel, Hughes Amys, told delegates at The Arc Group Canada’s third annual seminar in Toronto on Nov. 13. It is important to know a mediator’s style […]
By Canadian Underwriter | November 14, 2008
Paris Re Holdings Limited reported a net operating loss of US$53.7 million for 2008 Q3, compared to a net operating income of US$90.0 million in 2007 Q3.The combined ratio was 135.1% for 2008 Q3, compared to 88.8% quarter-over-quarter.The combined ratio for the first nine months of 2008 is 106.7%, compared to 92.2% for the same […]
Listening is key in the art of negotiation and a technique most people fail to adhere to, Gordon Kirke, lawyer, principal KSR Sports Representatives Inc., told delegates at the third annual Arc Group Seminar in Toronto on Thursday. Kirke spoke on the need to listen to what the other party is saying and asking for […]
The Insurance Corporation of British Columbia (ICBC) reported a profit of Cdn$437 million for the first nine months of 2008, 15% lower than for the same period last year of Cdn$513 million.”This decrease is largely the result of a decline in investment income, which stood at Cdn$360 million year-to-date for the third quarter of 2008, […]
By Canadian Underwriter | November 13, 2008
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