Claims
Stone Point Capital LLC recently placed a binding offer through the new company Paris Re Holdings Ltd. to acquire AXA Re from AXA SA. AXA received the offer of US$14.2 million from Stone Capital for the entire share capital of AXA Re. Other lead investors in the deal, facilitated through the Stone Capital sponsored acquisition […]
April 30, 2006
1 min read
Risk
The Women in Insurance Cancer Crusade (WICC) welcomes Michael Butler, national insurance and services manager for PPG Refinish Canada, to the position of chair of the Chapter & Industry Relations Committee. Butler offers 18 years of experience in the collision repair marketplace, including OEM parts marketing, insurance vendor relations, and collision banner growth. Throughout his […]
5 min read
A.M. Best changes catastrophe test
2 min read
Industry
With over 630 in attendance, Fred De Francesco, principal of Fairview Insurance Brokers was awarded the “Lew Dunn Memorial Award” by the Women in Insurance Cancer Crusade (WICC) at the WICC Ontario 10th Anniversary Annual Fundraising Dinner – “Fueling the Flame’, March 29, 2006 at the Westin Harbour Castle Hotel in Toronto. The Lew Dunn […]
Arch Capital Group Ltd. (NASDAQ: ACGL) reports that net income available to common shareholders for the 2006 first quarter was US$129.6 million, or $1.71 per share, compared to $115.9 million, or $1.57 per share, for the 2005 first quarter.Gross and net premiums written for the 2006 first quarter were US$1.17 billion and US$873.7 million, respectively, […]
By Canadian Underwriter | April 28, 2006
Co-operators General Insurance Company has reported a consolidated after-tax net income of CD$31.9 million for 2006 1Q, compared to the CD$36.5-million profit for the same period in 2005.Gross written premium during the first quarter increased 5.3% to CD$428 million, the company reported, compared to CD$407 million in the first quarter of 2005.The loss ratio for […]
Hub International Limited (NYSE:HBG) (TSX:HBG) is crediting its acquisitions strategy in part for 2006 1Q revenue growth of 12% – from US$119.2 million to US$134.1 million.”We are off to a solid start in 2006, with measurable progress on all fronts,” Hub chairman and CEO Martin P. Hughes said in a press release. “Revenue is up, […]
Eight Greater Toronto Area residents face 97 charges after the Toronto Police Fraud Squad, the Toronto Strategic Partnership, members of 33 Division and various insurance industry members concluded a four-and-a-half month investigation into the alleged production and sale of illegal insurance policies and insurance cards.The investigation began Dec. 1, 2005, as part of a province-wide […]
By Canadian Underwriter | April 27, 2006
Home
Bermuda-based reinsurer ACE Limited (NYSE: ACE) has reported a record net income for the first quarter ended Mar. 31, 2006, of US$489 million.The net income figure includes, the company reported, “a US$80-million pre-tax charge pertaining to the imminent settlement with certain governmental agencies of their investigations of various insurance industry business practices.” Income excluding net […]
On Friday, Apr. 21, Dr. Rolf Robert Kern, a key figure in the rise of the Gerling Global General and Reinsurance companies, succumbed to heart failure and passed away peacefully at St. Michael’s Hospital in Toronto.Born on Aug. 5, 1927 in Freiburg, Germany, Rolf Kern and brother Fritz worked the Bakerei Kern before a war-torn […]
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