Industry
ING Canada Inc. (TSX: IIC.LV) reported a net income of CD$185.9 million in 2006 Q1, a 17.3% increase over the CD$158.5 million it reported in 2005 Q1. The company’s revenue increased to CD$1.13 billion, up 3.2% from CD$1.098 billion in the comparable quarter of 2005. Claude Dussault, president and CEO of ING Canada, said the […]
May 31, 2006
1 min read
Fairfax Financial Holdings Limited (TSX:FFH.SV, NYSE:FFH) had net earnings of US$172.1 million during the first quarter of 2006, compared to US$35.2 million in 2005, the company has announced. “Despite some softening in market conditions, the [2006 Q1] combined ratio of the company’s insurance and reinsurance operations improved to 96.0% (from 96.9% in 2005),” Fairfax announced […]
Kingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) reported its net operating income in 2006 Q1 increased 11% to US$30 million, compared to US$27 million in 2005 Q1. Underwriting profit during this year’s first quarter set a Q1 record of US$16.4 million, Kingsway noted in a press release. At the same time, the company’s overall net income […]
Royal & SunAlliance reported a strong start to 2006, with a combined operating ratio (COR) for the core group of 91.6% and 95.8% for the Canadian operation, which represents almost a three-point improvement over 2005 Q1. In addition, Royal & SunAlliance Canada saw a 50% increase in its underwriting profit, which was US$18 million. The […]
Risk
Marsh & McLennan Companies, Inc. (MMC) reported its 2006 Q1 consolidated revenues were US$3 billion – a 1% decline from 2005 Q1. Marsh’s overall net income in 2006 Q1 was US$416 million, compared with US$134 million in 2005 Q1. “A number of noteworthy items affected first quarter results in both 2006 and 2005,” Marsh noted […]
Arch Capital Group Ltd. (NASDAQ: ACGL) reports that net income available to common shareholders for 2006 Q1 was US$129.6 million, compared to US$115.9 million during 2005 Q1. Gross and net premiums written for the 2006 first quarter were US$1.17 billion and US$873.7 million, respectively, compared to US$980.7 million and US$799.8 million, respectively, for 2005 Q1. […]
Claims
Aon Corporation (NYSE: AOC)’s net income in 2006 Q1 dropped slightly to US$198 million from its 2005 Q1 net income of US$200 million. According to the company, the net income fell as a result of: restructuring charges of US$0.06 per share in 2006 Q1; a 2006 Q1 gain of US$0.07 per share related to a […]
Willis Group Holdings Ltd (NYSE: WSH)’s 2006 Q1 revenues increased slightly to US$671 million from US$669 million during the same period in 2005. Willis Group says the effect of foreign currency translation decreased reported revenues by 5% and net disposal of operations reduced reported revenues by %. Joe Plumeri, chairman and CEO, says last year […]
North America’s commercial insurance industry remained a buyers’ market in 2005 and shows no signs of hardening any time soon, according to the 2005 Annual Benchmark Survey from the Risk and Insurance Management Society (RIMS). In the executive summary of the survey, Bradford notes almost every class of business tracked for the survey showed a […]
2 min read
Munich Re's 2006 Q1 profits increase 41.7%
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