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Swiss Re has reported a 2006, first-half net income of CHF 1.6 billion (CD$1.43 billion) up 16%, compared to a strong first half of 2005. Annualized return on equity was 13.9% and shareholders’ equity increased 18% to CHF 27.1 billion (CD$24.23 billion). “We are pleased with our first half results, as they underline our progress […]
By Canadian Underwriter | September 6, 2006
1 min read
Industry
New Brunswick’s election campaign is heating up, with calls by Liberal candidates for the insurance industry to come up with ways to reduce auto rates or face a public auto insurance system.According to a report by Canadian Press (CP), Greg Byrne, a Liberal candidate running in Fredericton for the Sept. 18 election, said motorists in […]
The Property & Casualty insurance industry can look forward to another year of overall industry underwriting profit in 2006, which a Conning Research and Consulting Inc. forecast report says will match the results of 2004. “Analysis of 2005 results for the industry shows a remarkable consistency in profitability by line of business, aside from the […]
Claims
Kingsway Financial Services Inc. has appointed Denis Cloutier to the position of vice president and chief actuary, Canadian Operations as well as Tom Duffy to the position of vice president, Kingsway America Inc., and chief actuary, U.S. Operations. Cloutier joined Kingsway Financial over five years ago and offers over 24 years of experience in the […]
2 min read
Managing the property and casualty cycle is said to be the most difficult endeavor that reinsurers will face throughout 2006 and 2007, according to a recent report published by Fitch Ratings Agency.The report “Reinsurance Review and Outlook: Cycle ManagementA Bumpy Ride Ahead,” says that over this two-year period, operating and capital trends “will generally support […]
By Canadian Underwriter | September 5, 2006
Colorado State University’s hurricane forecast team has downgraded its original 2006 forecast for the Atlantic basin based on changing climate signals and below-average activity in the first third of the season.The forecasting team of Philip Klotzbach and William Gray has released a new report that calls for a total of 13 named storms to form […]
CARSTAR Automotive Canada has opened a new location in Nova Scotia. CARSTAR announced it has welcomed MacKay’s CARSTAR Collision to its network of collision repair centres. The new location, which opened in August, joins a network of over 110 CARSTAR locations in 10 provinces across the country.Franchise owner Tim MacKay has been operating a successful […]
Crawford & Company (NYSE: CRDA; CRDB), an independent provider of claims management solutions, and MJM Investigations Inc. recently formed a global strategic alliance.MJM will become Crawford’s preferred provider for services including: insurance fraud mitigation and claims services as well as surveillance and fire and forensic investigations. MJM provides global coverage, with clients throughout North and […]
By Canadian Underwriter | September 1, 2006
Risk
Willis Group Holdings Ltd. recently reached an agreement with New York Attorney General Eliot Spitzer and New York Superintendent of Insurance Howard Mills that will allow the broker to accept extra profit-based commissions from insurers when it acts as a managing general agent. This new agreement follows a similar agreement recently finalized between Spitzer, Mills […]
Auto
Using state-of-the-art technology to manage your trucking liability
By David Gambrill | August 31, 2006
4 min read
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