Risk
Marine insurance clubs can look forward to a stable outlook for protection and indemnity according to the sector report “Industry Risk Analysis: Protection & Indemnity Clubs,” published ahead of its customary February 20 renewal date by rating agency Standard & Poor’s Corp. Rate increases will be sought out by most protection and indemnity clubs at […]
By Canadian Underwriter | February 9, 2006
1 min read
Industry
Desjardins General Insurance, the property and casualty insurance arm of Desjardins Group, a Canadian cooperative financial group, is introducing an additional 10% discount on the automobile insurance premium for hybrid vehicles.”Under the circumstances, promoting the use of vehicles that have both an internal combustion engine and an electric motor is certainly a worthwhile strategy for […]
Kingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) reported its 2005 Q4 net income increased 16% over its 2004 Q4 results from Cdn$36.3 million in 2004 to Cdn$42.1 million in 2005 despite lower premium volumes in 2005.Overall Kingsway’s net income in 2005 increased 24%, to a record Cdn$163.1 million, over the Cdn$131.0 million reported last year. The […]
2 min read
Claims
RenaissanceRe Holdings Ltd. (NYSE: RNR) has incurred a net operating loss attributable to common shareholders of $206.9 million in the Q4 of 2005, which the Company says mainly reflects a $313.9 million net negative impact from hurricane Wilma. These results compared to net operating income available to common shareholders of $188.6 million reported for the […]
By Canadian Underwriter | February 8, 2006
The fourth quarter results in 2005 for Industrial Alliance Insurance and Financial Services Inc.’s shareholder net income increased slightly to $46.7 million from $34.3 million for the same period in 2004.However, when excluding the Company’s restructuring charges related to the integration of its National Life subsidiary, Q4 shareholder net income in 2005 would be $48.2 […]
Focusing on its core strength of commercial insurance, The Sovereign General Insurance Company has announced that it will no longer write personal auto and home insurance in Alberta, Nova Scotia, Saskatchewan and the Northwest Territories.”The size of the portfolios and their geographic concentration create an unacceptable level of exposure for the company,” the company announced […]
RBC Insurance is offering a small incentive to auto repair facilities that achieve an I-CAR Gold Class Professionals training designation. The company will add $10 to every repair estimate from RBC Insurance clients for vehicles being repaired at Gold Class facilities, RBC Insurance announced. The $10 allowance was conceived to support the continued training needed […]
Could it be that catastrophe modeling may soon have to deal with factors such as “construction theft” when calculating rebuilding costs in the wake of natural disasters?According to A.M. Best, the widespread rebuilding effort along the U.S. Gulf coast in Louisiana, Florida, Texas, Mississippi and Alabama “is feeding a variety of criminal activity, including an […]
By Canadian Underwriter | February 7, 2006
The Loyalist Insurance Group Limited is reporting a net earnings loss of $56,359 in 2004, as compared to net earnings gain of $184,829 reported in 2003.The company also reported a decline of revenues by almost half from $3.67 million in 2003 to $1.81 million in 2004.The Loyalist Insurance Group Limited is a financial services holding […]
This year’s treaty renewals in property and casualty reinsurance are generally satisfactory as the hard market has been sustained, according to Hannover Re. “Although not all our expectations were realised, we were still able to top the already very high rate level in some areas,” Wilhelm Zeller, CEO of Hannover Re, says. “The treaty renewals […]
3 min read
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.
