Industry
Aviva plc has announced a major shuffle of its executive team that will see Igal Mayer, currently chief executive of Aviva Canada, become chief executive of Norwich Union General Insurance.Andrew Moss, currently the group finance officer, has been promoted to group chief executive and Tom Godlasky, currently chief executive of Aviva USA, will become chief […]
By Canadian Underwriter | April 23, 2007
1 min read
Claims
Standard & Poor’s Ratings Services increased its financial strength rating on the U.K.-based Lloyd’s insurance market (Lloyd’s or the Market) to ‘A+’ from ‘A.’ At the same time, Standard & Poor’s raised its counterparty credit rating on The Society of Lloyd’s to ‘A+’ from ‘A.’ The outlook is stable.”The upgrade reflects the recent successful conclusion […]
2 min read
Canadian Western Trust (CWT), the parent company of Canadian Direct Insurance Incorporated, is celebrating its 20th anniversary, with the last decade marking a tenfold growth and $3.6 billion total. It is truly gratifying to have earned the recognition and confidence of individuals and industry associates that have embraced our value proposition and highly personal approach […]
By Canadian Underwriter | April 20, 2007
Home
Tritech has just enhanced its enterprise wide solution, GIMS (General Insurance Management System), to include a Web Reporting Portal. Insurers ability to generate data and report on it is increasing by the week, announced Tritech, a Toronto-based firm that has provided enterprise technology solutions to the property and casualty insurance industry for 15 years. What […]
The Women in Cancer Crusade (WICC) Alberta chapter is rallying around its Fifth Annual WICC Day, to be held May 1, 2007.Your generosity in supporting WICC has resulted in contributions of more than Cdn$525,000 to the Alberta division of the Canadian Cancer Society since we began in 2000, WICCs Alberta chapter announced in a statement.Those […]
Risk
Twenty Manitoba car thieves will be fitted with GPS tracking devices in the fall as part of a one-year pilot project to fight auto theft, the CBC reported on its Web site.Under the program, the highest-risk repeat offenders will wear location-monitoring devices such as ankle bracelets, the CBC reported.The CBC cited Manitoba Justice Minister Dave […]
By Canadian Underwriter | April 19, 2007
The Canadian reinsurance market has been impacted by a decrease in cession rates, and now there is a need for sustainability to combat the volatile underwriting results, Jean-Jacques Henchoz, president and CEO of Swiss Reinsurance Company of Canada, told attendants of the Insurance Institutes At the Forefront breakfast in Toronto.The main reason for cession rates […]
The costs of insurance insolvency in Canada have been substantially lower than most countries, but the insolvency of insurance companies in this country has been on the rise over the past few decades, according to a report by the Property and Casualty Insurance Compensation Corporation (PACICC).PACCICs 2007 report, Why Insurers Fail, was released at its […]
SSQ Financial Group reported an increase of 11.8% in premiums underwritten in 2006, representing an increase from $1.2 billion to $1.4 billion. SSQs Group Insurance business line experienced $95 million in new sales and growth in annual premium income of 9.3%, for a total of $960.1 million in 2006, an SSQ release says. Over the […]
Renewals in January 2007 have demonstrated some negative trends in the market that are expected to intensify through 2007, according to Partner Res 2006 Annual Report, entitled The Value of Risk.Partner Re reported that Jan. 1, 2007 was a good renewal for us, with 55% of the reinsurers non-life book up for renewal and a […]
By Canadian Underwriter | April 18, 2007
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