Industry
CNA Financial Corporation (NYSE:CNA) announced a 2006 Q4 profit of US$329 million and a net income of US$1.1 billion throughout 2006.The Q4 income marks an increase of US$546 million as compared with the same period in 2005. Net income for the entire year increased US$844 million over 2005. “This income was primarily due to improved […]
By Canadian Underwriter | February 12, 2007
1 min read
Scor records an increase of around 10% in worldwide premium income for non-life reinsurance renewed at 1 January 2007, according to a press release.Property and casualty reinsurance renewals at 1 January 2007 were conducted in full accordance with the underwriting plan set in June 2006 and adhered to the underwriting rules and profitability criteria fixed […]
The Financial Services Commission of Ontario (FSCO) has served notice of its intention in 2007 to “review the use” by insurers, agents and brokers of CCIR [Canadian Council of Insurance Regulators] principles related to the disclosure of potential conflicts of interest.”To ensure consumers are protected, conflicts of interest between insurers and agents must be managed […]
By Canadian Underwriter | February 9, 2007
Risk
AON Corporation (NYSE: AOC) has reported a 2006 Q4 profit of US$224 million, compared with a 2005 Q4 net income of US$224 million.Throughout all of 2006, AON reported a net income of US$721 million, compared to a reported net income $737 million for 2005.According to an AON release, risk and insurance brokerage services revenue increased […]
Claims
Insurers have handled more than 1,000 claims with property/casualty losses estimated at US$68 million in the week following a string of 7 tornadoes that struck Florida last week, reported A.M. Best.Michal Connolly, a spokesperson for State Farm Florida Insurance Co., told A.M. Best that the company anticipates 600 claims and losses of US$23 million as […]
The Insurance Council of British Columbia (Council) decided to proceed with the implementation of recommendations for the distribution of home warranty insurance products as they were originally published.In 2006 the Council requested industry feedback on the proposed changes.Five issues were addressed in the proposal. They include: claim administration; licensing; holding out and fee disclosure; builder […]
By Canadian Underwriter | February 8, 2007
Kingsway Financial Services recently announced a US$123.3 million net income for 2006.Net income in the quarter was $16.8 million (C$19.2 million), compared to $35.9 million (C$42.1 million) in the fourth quarter of last year. Net income for 2006 was $123.3 million (C$139.4 million) compared to $135.0 million(C$163.1 million) reported last year.In the fourth quarter, operating […]
The quiet 2006 hurricane season in the United States has lead to a plummeting demand for independent adjusters, reports A.M. Best.December’s nonfarm payroll report released by The Bureau of Labor Statistics showed a 6.9% decrease in claims adjusting jobs in the U.S., capping a 2006 fourth quarter that saw a 12.6% decline in all such […]
The Insurance Bureau of Canada (IBC) is providing Cdn$500,000 to support a unique facility at the University of Western Ontario called The Insurance Research Lab for Better Homes.Formerly known as the Three Little Pigs project, the facility is a typical 1,900-square-foot, two-storey house enclosed within a corrugated steel shell. The facility enables researches to study […]
By Canadian Underwriter | February 7, 2007
2 min read
Toronto Insurance Women’s Association (TIWA)’s annual Wine and Cheese event will be held this year at the Metro Toronto Convention Centre on Feb. 15, 2007.Featuring complimentary wine, hors d’oeuvres, draw prizes from many industry sponsors and great entertainment, the event will be held between 5:00 p.m. and 8:00 p.m.Tickets can only be purchased in advance […]
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.
