Risk
Despite strong premium growth, many European reinsurers saw their results dragged by a lackluster investment environment, says a report by reinsurance broker Benfield Group.In the yearend review, “Impairment Drag”, Benfield notes, “The favorable trends in pricing and terms noted through 2003 persisted in the January 2004 renewals, with most companies taking the opportunity to increase […]
By Canadian Underwriter | May 20, 2004
2 min read
Two Fairfax operations are under the eye of rating agencies, with one set for possible upgrade.Odyssey Re’s operations may see its financial strength rating upgraded by Moody’s Investors Service on the back of strong first quarter results. Moody’s says it will review the company’s future earnings prospects, reserve adequacy, reinsurance recoverables, capitalization and the liquidity […]
The “A+” (excellent) financial strength rating of ING Canada Group has been affirmed by A.M. Best, on the back of strong underwriting and investment performance.ING Canada includes Belair Insurance Co., ING Insurance Co., ING Novex and Nordic Insurance Co. The group rating has a stable outlook.Despite ING’s exposure to the troubled auto line, specifically in […]
By Canadian Underwriter | May 18, 2004
1 min read
Insurance Technology Advisors Ltd. (ITA) has been retained by two Canadian technology firms to conduct market research on p&c insurers Companies participating in the research will also receive an executive report on overall IT trends for the industry. The study will address: IT deployment, vendor management issues, functional areas of interest and IT risk management […]
By Canadian Underwriter | May 16, 2004
In an era of insurer financial instability, the Property & Casualty Insurance Compensation Corp. (PACICC) is ready to step beyond its role as a compensation mechanism for policyholders of defunct insurers, to take a more proactive approach to insolvency.While 2003 saw just one p&c insurer go into liquidation in Canada the Canadian branch of Home […]
By Canadian Underwriter | May 12, 2004
In light of the shift in risk management focus away from insurance-buying and toward loss control, risk managers need to look at their own role within the corporation, according to a survey by the Risk & Insurance Management Society (RIMS) and Marsh. The “Excellence in Risk Management” study highlights three paths risk managers can follow […]
By Canadian Underwriter | May 11, 2004
The U.K.’s regulator, the Financial Services Authority (FSA) has set out proposals for the regulation of Lloyd’s, including capital requirements for managing agents.The FSA says the capital requirements will be similar to those set out for other general insurers. Senior management of the Society of Lloyd’s will continue to be responsible for the capital adequacy […]
By Canadian Underwriter | May 5, 2004
The recent conclusion of a Supreme Court of Canada case involving "John Doe vs. Bennett" has provided dramatic clarification of the law as it applies to vicarious claims made against the church and other not-for-profit organizations. Will this legal outcome undermine the social role of churches and charity organizations in Canada?
By William Blakeney | April 30, 2004
8 min read
Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry's history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.
April 30, 2004
4 min read
Analysis of the 2003 financial returns of Canadian and U.S. insurers reveals several interesting differences in how companies in each of the marketplaces got to their current position. The main fact is that insurers in Canada and those south of the border appear to have now moved onto more solid ground financially after what Robert […]
By Sean van Zyl, Managing Editor | April 30, 2004
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