Risk
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 […]
By Canadian Underwriter | May 11, 2006
2 min read
Industry
The first quarter of 2006 brought strong results for ING Canada Inc. (TSX: IIC.LV) with a net income to $185.9 million, representing a 17.3% increase from $158.5 million the first quarter of 2005. Revenue also increased to $1,133.8 million, up 3.2% from $1,098.8 million in the comparable quarter of 2005.Earnings per share for Q1 2006 […]
1 min read
Royal & SunAlliance started the 2006 year off strong 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 Q1 2005.In addition Royal & SunAlliance Canada saw an increase in its underwriting profit of 50% to $18 million. While its […]
The existing legislation limiting Canada’s banks marketing of insurance products should be upheld by the federal government, according to chief executive of Sun Life Financial Inc. Donald Stewart.During Sun Life Financial’s recent annual meeting, Stewart commended the new Conservative government’s election platform, which promises to “maintain the current regulations governing insurance marketing by the chartered […]
By Canadian Underwriter | May 10, 2006
Claims
The property/casualty insurance industry will only encounter a limited amount of exposure if there is an outbreak of H5N1 ‘avian’ flu, according to Standard & Poor’s Corp.The report recently released by S&P’s says a pandemic would be interpreted by P&C as an “operational risk.” This means they would have to deal with employee absences not […]
Total revenue for the first quarter 2006 for Pethealth Inc. (TSX:PTZ) drastically increased 41% from Q1 2005 reaching $4.53 million. The Company also recorded a significant decrease in net loss for Q1 2006, which was reported at $150,855, compared to the restated net loss of $466,089 recorded in Q1 2005. The EBITDA loss for Q1 […]
Baird MacGregor extends a cordial invitation to attend an opening cocktail reception in recognition of the Company’s first annual Bond Fountain Charity Art Exhibit. The cocktail reception will be held at the Bertossini Gallery at 783 Queen Street East, Toronto, ON, on May 24 and 25 from 5pm to 7pm. The art exhibit itself runs […]
3 min read
Profits for German reinsurer Munich Reinsurance Co. spiked this year, increasing 41.7% from the first quarter in 2005 to reach US$1.70 billion (979 million ) in the same period of 2006.This profit, according to Munich Re, is a result of a streamlined and focused profit orientation and was due in large part to its “strict […]
By Canadian Underwriter | May 9, 2006
In response to increasing concerns of a flu pandemic, Risk Management Solutions (RMS) has completed a probabilistic model for assessing the risk of influenza pandemics across multiple countries. While there are currently a number of other studies illustrating effects of various pandemic scenarios, most base their models on the 1918 influenza pandemic. Recent analysis indicates […]
Auto
A Durham region mother of eight celebrated Mother’s Day early this year when KRG Children’s Charities presented her family with a wheelchair-access van.For Kari Murphy an exceptional mom to eight children, seven with special needs the van is essential as it will support her families day-to-day needs and their continual visits to The Hospital for […]
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