Industry
Business property insurer FM Global’s financial performance rating of A+ (Superior) was recently affirmed by A.M. Best Ratings Co.Noting that FM Global continues to be “a market leader among providers of commercial property insurance,” the insurance ratings company went on to affirm the insurers “stable” rating outlook. The A+ rating is assigned to insurers with, […]
By Canadian Underwriter | May 16, 2006
1 min read
Claims
Armada Data Corporation (TSX:ARD) recently launched “Actual Cash Value Replacement Vehicle Service,” which will facilitate insurance companies settling total-loss claims for vehicles of any age that are not covered by a “Waiver of depreciation” endorsement. The new service is meant to complement Armada’s existing 43r.ca service “New Vehicle Replacement Value Service.” This original service facilitates […]
By Canadian Underwriter | May 15, 2006
A & B Insurance Damage Restoration, Inc. recently joined Disaster Kleenup International, Inc.The addition of A & B to DKI’s membership will strengthen the network’s Northeast market. As a DKI member, A & B Insurance Damage Restoration can utilize DKI’s 24-hour call center and its DIAMOND claims tracking technology to enhance service to insurance and […]
EGI Financial Holdings Inc. (TSX:EFH) announced strong results for the first quarter ended Mar. 31, 2006, including “solid increases in net written premiums, investment income and income before extraordinary gains, as the company continues to build its specialty general insurance business.”EGI Financial generated direct written premiums totaling CD$26.1 million for the 2006 period, compared with […]
2 min read
Thanks largely to solid investment returns and strong underwriting results, the U.S. property and casualty industry was able to absorb record-high catastrophe losses and report an overall operating profit in 2005, A.M. Best reports. The U.S. property and casualty industry’s 2005 net income after taxes improved to US$48.4 billion, a 20% increase from 2004 year-end […]
Auto
School board volunteer driver procedures in Victoria, British Columbia have been revamped to comply with changes made this April by Greater Victoria School District (School District 61). Under the District’s changed policy it is the responsibility of the Principal to ensure that there is an adequate screening and authorization process for the use of volunteer […]
By Canadian Underwriter | May 12, 2006
An increase in premiums during the first quarter 2006 caused net profit’s for reinsurer Hannover Re to spike 7% reaching US$134 million (105 million).However, forecasts had quoted a greater profit of around US$149.3 million (117 million).Hannover Re’s gross written premiums also rose by about 9%% to to reach US$3.57 billion (2.8 billion) for the Q1 […]
Hub International Limited (TSX:HBG) will offer 4,000,000 common shares in a public offering in the United States. Hub International will also grant the underwriters an over-allotment option to purchase up to 600,000 additional common shares. Stephens Inc. and Wachovia Securities will act as joint book-running managers for the offering and Cochran Caronia Waller; Ferris, Baker […]
Swiss Reinsurance Co. has raised over $1 billion in a capital market transaction to finance its bid to take over General Electric Co.’s (GE) reinsurance arm. Swiss Re placed 13.9 million new shares at CHF92.25 apiece with shareholders and investors. The proceeds are CHF1.3 billion, or $1 billion. The settlement will be made on May […]
By Canadian Underwriter | May 11, 2006
Royal Bank of Canada Insurance Company Ltd. (RBCI) has received a financial strength rating of A (Excellent) and the issuer credit rating of “a+” from A.M. Best Co.The rating’s agency reports that these ratings, which have stable outlooks, reflect RBCI’s capitalization, as well as its underwriting and operating performance. A.M. Best also notes that RBCI […]
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.
