Risk
Standard & Poor’s Ratings Services is maintaining its stable outlook on the U.K. non-life insurance sector.The stable rating as noted in S&P’s recent report titled “Insurance Industry Risk Analysis: United Kingdom Non-Life,” verifies expectations that most nteractive insurer financial strength ratings on domestic insurers (excluding reinsurers and London Market insurers) will remain unchanged. However, S&P’s […]
By Canadian Underwriter | March 8, 2006
2 min read
Home
Tony Boobier has been appointed to head Marshall & Swift / Boeckh’s newly created London-based international solutions division. Boobier will develop the use of MSB’s claims and underwriting systems within the U.K. and European insurance and reinsurance arenas. Initially, Boobier will focus on companies in the U.K. with books of property insurance business in the […]
Industry
Royal Bank President and CEO Gordon Nixon said recently that a Canadian law preventing banks from retailing insurance “does not make any sense.””Canada is the only developed country in the world that prohibits consumers and small business owners from buying insurance products, or even getting information about insurance from their bank,” Nixon said in a […]
By Canadian Underwriter | March 7, 2006
3 min read
Claims
SGI is driving home the message of how seatbelts save lives with its newest traffic safety tool, a rollover simulator.”Given our vast network of roads in Saskatchewan, some residents may think seatbelts are not important in areas where there is little traffic,” the minister responsible for SGI, Glenn Hagel, says. “However, most fatal crashes where […]
Hannover Re recently began restructuring its North American primary insurance business through the launch of the new specialty business insurer Praetorian Financial Goup Inc.Approximately US$500 million in capital was contributed to the formation of Praetorian, which will write select specialty business that had previously been managed by Clarendon Insurance Group Inc.Hannover Re says that premiums […]
1 min read
Willis Group Holdings, Ltd. (NYSE: WSH), is strengthening its Canadian presence through the appointments of four new insurance professionals to its Canadian operations. Robert Kudzman, formerly partner and senior consultant at Jones Brown, will join Willis as vice president. Kudzman comes to Willis offering over 30 years experience in the insurance industry , specializing in […]
Despite the record 2005 hurricane season, several Lloyd’s syndicates are releasing results forecasts ahead of market expectations, Lloyd’s has announced.The news comes in the wake of last year’s devastating hurricane season, which was widely expected to have a huge impact on the market.Amlin indicates its result for the year ended Dec. 31, 2005 will be […]
By Canadian Underwriter | March 6, 2006
Chubb Corp. said has increased its quarterly dividend by 16.3 % and recently declared a 2-for-1 stock split.Chubb has raised it’s dividend up $0.07 from the last quarter’s dividend of $0.43 per share to reach a current quarterly dividend of $0.50 per share. The 2-for-1 stock split Chubb set will be paid to shareholders recorded […]
RBC Insurance, with support from Hockey Canada and the Hockey Hall of Fame, is recognizing Canada’s most dedicated hockey volunteers as part of its third annual RBC Local Hockey Leaders program.Thirteen RBC Local Hockey Leaders – one from each regional Hockey Canada branch – will be recognized in a special display at the Hockey Hall […]
The United Nations World Food Program (WFP) has taken out the first humanitarianism insurance policy with reinsurer AXA Re.AXA Re will provide contingency funding of up to US$7 million of insurance coverage in case of extreme drought that may occur in Ethiopia during its 2006 growing season from March to October. This is the first […]
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