Claims
Loyalist Insurance Group Ltd. (TSX: LOY) has turned its ship around for the third quarter ending September 30, 2003, posting profit of $593,000 versus a loss of $473,000 for the same period a year earlier. These figures do not include results for Loyalist Group Ltd. (LGL) following on the group’s decision to reduce its ownership […]
December 31, 2003
1 min read
A recent legal judgement against Anthony Clark International Insurance Brokers Ltd. (TSX: ACL) has hit the company’s balancesheet hard for the half-year ending September 30, 2003. The company suffered a pre-tax loss of $218,724 for the six-month period, versus a gain of $335,728 for the six months ending September 30, 2002. Net loss for the […]
Risk
The 2003 recipient of the CIP Society’s Fellow of Distinction Award for the GTA is Carolyn Walsh, a partner at CCV Insurance and Financial Services Inc. She has served the Insurance Institutes for over 10 years, is a past president of the former Toronto Society of Fellows, and chair of the CIP Society Charity Gala. […]
2 min read
Industry
On a global scale, 2003 will go down as a modest year for insured catastrophe losses, but the human toll of yearend disasters – specifically the earthquake in Iran – were significant. In its annual report on global catastrophes, Munich Re notes that total insured losses for the year were US$15 billion, with Swiss Re […]
Home
U.S. property and casualty insurers saw their net income jump an impressive320.6% to US$21.1 billion for the nine months ending September 30, 2003,versus the US$5 billion posted for the same period a year earlier. Equallywelcome was a return on equity of 9.3% for the first nine months of 2003, upfrom 1.0% the year earlier, according […]
May this holiday season be filled with peace and contentment for all. Happy New Year and wishing you the very best in 2004!
By Canadian Underwriter | December 23, 2003
Commercial
In a report highlighting concerns over commercial marijuana grow operations, insurance concerns over the increased danger of fire are being brought forward by the Ontario Association of Chiefs of Police (OACP).The OACP-commissioned report speaks to several concerns, including the cost of stolen electricity, youngsters living in the grow house begin exposed to risks, and the […]
Auto
A new report from the Canadian Institute for Health Information (CIHI) notes that almost half of all major injuries sustained in 2001-2002, 47%, were the result of motor vehicle accidents. And men bore the brunt, accounting for 67% of all severe injuries due to motor vehicle collisions.For people under 20, 54% of major trauma was […]
Rent Shield Corp., which provides specialized insurance and reinsurance products, has signed a letter of intent to purchase Toronto-based Canadian Intermediaries Ltd. (CIL) for $5 million in stock and cash.Rent Shield chairman Stephen Stonhill is the majority shareholder in CIL, and says, “the acquisition of CIL should be an ideal vertial fit for the Rent […]
By Canadian Underwriter | December 22, 2003
Kingsway Financial Services Inc. (TSX, NYSE: KFS) has completed its sixth private placement of trust preferred securities for the past twelve months, this time netting US$12.6 million.The placement included US$13 million in 30-year floating rate securities, with the proceeds earmarked for support business growth and other corporate purposes.Since December 2002, the company has raised about […]
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