Risk
Investors wanting to keep their money out of nuclear energy, the arms industry or alcohol manufacturers are being targetted by American International Group Inc., which announced Thursday it is marketing a new dividend mutual fund. New York City-based AIG announced its environmental, social and governance (ESG) Dividend Fund, for which AIG subsidiary SunAmerica Asset Management […]
By Canadian Underwriter | May 19, 2017
2 min read
Amendments to the federal Railway Safety Act mandating recording devices, if passed into law, could provide “essential information” to Transportation Safety Board of Canada staff investigating rail accidents and could help prevent such accidents in the future, TSB suggested Tuesday. Bill C-49, an omnibus piece of legislation, was tabled Tuesday in the House of Commons […]
By Canadian Underwriter | May 16, 2017
5 min read
The federal transport department does not have an adequate inspection program for tug barge operations even though such operations can be riskier than conventional cargo-carrying vessels, the Transportation Safety Board of Canada suggested in a recent report. “Tug and barge operations are currently not required to operate under [safety management systems] despite the fact that […]
By Greg Meckbach | May 15, 2017
American International Group Inc. reported more than $1 billion in profit in the latest quarter and the New York City-based insurer continues “remediation” of its United States property and casualty business. AIG released Wednesday its financial results for the first three months of this year. Net income was $1.185 billion in the latest quarter, compared […]
By Canadian Underwriter | May 4, 2017
Edmonton-based SCM Insurance Services Inc. announced Wednesday it is acquiring St. Louis-based adjusting firm Nixon & Company Inc. The move comes eight months after SCM announced the opening of a Chicago office and the appointment of Scott Goodreau as chief operating officer-USA. SCM’s units include independent adjusting firm ClaimsPro. In addition to its St. Louis […]
By Canadian Underwriter | May 3, 2017
1 min read
Arch Capital Group Ltd. recently reported a seven-point improvement in its first-quarter combined ratio while net premiums written were up more than an eighth. Hamilton, Bermuda-based Arch released April 25 its financial results for the three months ending March 31, reporting net premiums written increased 13.8%, from $1.12 billion in Q1 2016 to $1.276 billion […]
By Canadian Underwriter | May 2, 2017
Marsh has reported revenues of US$775 million for its U.S./Canada division for the first quarter of 2017 ending March 31, up from US$701 million in the first quarter of 2016. Consolidated revenue for the quarter was US$3.5 billion, up 5% from US$3.33 billion in Q1 2016, global professional services firm Marsh & McLennan Companies, Inc. […]
By Canadian Underwriter | May 1, 2017
Arthur J. Gallagher & Co. (AJG) has reported brokerage revenues of US$878.5 million for the first quarter of 2017 ending March 31, up 6% from US$825.5 million in the first quarter of 2016. Rolling Meadows, Ill.-based AJG reported its financial results last week. The company’s Brokerage segment saw net earnings of US$78.1 million, up 19% […]
PHILADELPHIA – Resources extraction industries are certainly not alone in facing cyber risk, but the risk of a related terrorism attack would most likely be higher later in the refining process, suggested Christof Bentele, head of global crisis management for Allianz Global Corporate & Specialty (AGCS). For the base metals and oil and gas industries, […]
By Angela Stelmakowich | April 28, 2017
4 min read
Oldwick, N.J.-based ratings firm A.M. Best Company is requesting comments from market participants in the insurance industry and other interested parties on the draft criteria reporting Understanding BCAR for Canadian Property/Casualty Insurers. BCAR, or Best’s Capital Adequacy Ratio, is calculated by dividing a company’s adjusted surplus by its net required capital, after a covariance adjustment, […]
By Canadian Underwriter | April 27, 2017
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