Industry
Willis Group Holdings Limited (NYSE: WSH), net income for the quarter ended June 30, 2005 was $119 million, or $0.72 per diluted share, compared with $96 million, or $0.57 per diluted share, a year ago. Results for the second quarter showed a net gain on disposal of operations of $78 million ($41 million or $0.25 […]
By Canadian Underwriter | July 28, 2005
2 min read
Claims
XL Capital Ltd (NYSE: XL – News) recently reported net income available to ordinary shareholders for the quarter ended June 30, 2005 of $135.9 million, or $0.97 per ordinary share, compared with $363.6 million, or $2.62 per ordinary share, for the quarter ended June 30, 2004. Annualized net income return on ordinary shareholders’ equity for […]
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Capital markets minimize exposure to catastrophic insurance risks and as a result, public and private equity investors are buying notes exposed to natural peril and mortality catastrophic risks with high excess casualty exposure recently being securitized and rated by Standard & Poor’s Ratings Services.Avalon Re Ltd. recently issued three notes for $135 million each that […]
Industrial-Alliance Insurance and Financial Services Inc. today reported its second-quarter profit rose 10%.Industrial Alliance Insurance and Financial Services, based in Quebec, has boosted profits by 10% as it experienced Q2 higher premium incomes. Net income was $44.5 million or $0.56 per share, diluted, compared with $40.4 million or $0.51 per share a year ago. Increased […]
By Canadian Underwriter | July 27, 2005
1 min read
The Chubb Corporation (NYSE: CB News) net income in the second quarter of 2005 is $496 million, a 39% increase over net income of $356 million in the second quarter of 2004. Net income per share increased 32% to $2.45 from $1.85.Operating income, which the company defines as net income excluding after-tax realized investment gains […]
3 min read
Hub International Limited (TSX:HBG) recently reported its 2Q and first-half revenue rose sharply, reflecting both the benefits of acquisitions and strong organic growth. Revenue for the quarter ended June 30, 2005 increased 37% to US$112.7 million from US$82.2 million a year earlier. Net earnings declined, as expected, due to the impact of a non-cash stock […]
4 min read
Risk
Public donations to the Traffic Injury Research Foundation (TIRF) will be facilitated by all 600 LCBO stores throughout Ontario from Aug. 1 until Aug. 31, 2005.TIRF founded in 1964 is set to reduce traffic-related deaths and injuries by promoting and implementing effective research-based programs and policies, which largely focus on the problem of drinking and […]
CARSTAR Automotive Canada recently sponsored the solar-powered car dubbed Soleon engineered by students at the University of Calgary which will competed in the North American Solar Challenge race starting in Austin, Texas on July 17 and ending in Calgary on July 27. The Soleon is powered by 570 solar cells, has a five-horsepower motor and […]
A recent online survey of 1,000 drivers finds the majority of drivers believe common car insurance myths to be true, according to U.S.-based insurer Drive Insurance from Progressive. The survey found myths drivers believe include: * 25% drivers believe insurers consider vehicle color when determining auto insurance rate but in fact auto insurance rates are […]
By Canadian Underwriter | July 26, 2005
Everest Re Group, Ltd. (NYSE: RE) recently reported second quarter 2005 after-tax operating income, which excludes realized capital gains and losses, of $173.3 million, or $3.03 per diluted share, a nominal decrease compared to $174.4 million, or $3.07 per diluted share, in the second quarter of 2004. Second quarter 2005 net income decreased 26.4% to […]
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