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XL Group Ltd. sees net income soar in 2017 Q2 over prior-year quarter, focus on executing strategy continues

July 27, 2017 by Canadian Underwriter

Both net income attributable to common shareholders and operating net income for Bermuda-based XL Group Ltd. skyrocketed in 2017 Q2 compared to 2016 Q2, with the former increasing six-fold to US$301.6 million. Specifically, net income attributable to common shareholders amounted

News Commercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

SCOR posts net income of 292 million euros for the first half of 2017

July 27, 2017 by Canadian Underwriter

French reinsurer SCOR has reported a net income of 292 million euros for the first half of the year, up from 275 million euros in the first half of 2016. The company’s net combined ratio in P&C was 93.5% for

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MKA Canada, Inc. Announces New Winnipeg Office

July 27, 2017 MKA Canada Inc.

On behalf of the Board of Directors , we are pleased to announce the opening of our Winnipeg Office and appointment of Etienne Nel as Regional Manager. Barry Milliner PMP, PQS, AssocRICS Managing Director – Canada Etienne has over 16 years of

News InsuranceMarkets / CoveragesPersonal Lines

EY report on reforming B.C. auto points to impending restrictions in Australia on auto accident benefits for minor injuries

July 27, 2017 by Canadian Underwriter

A report released April 11 by the Ontario finance ministry “contains many useful learnings” for British Columbia’s government-run auto insurer, Ernst & Young LLP suggested in a report released July 24. In Affordable and Effective Auto Insurance – a New

News CatastrophesInsurancePersonal Lines

“Extension cord mess” cited in fire that killed N.B. mother, three sons

July 26, 2017 The Canadian Press (CPSTF)

ST. GEORGE, N.B. – Fire investigators say a mess of extension cords and power bars, as well as the failure of an electrical component, were likely to blame for a fire that killed a New Brunswick woman and her three

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30 Forensic Engineering Announces New Website Launch

July 26, 2017 by -30- Forensic Engineering

(Toronto) – 30 Forensic Engineering, Canada’s leading and fully-independent multi-disciplinary forensics firm is pleased to announce the launch of its newly redesigned website www.30fe.com. The revamped website offers visitors a seamless user experience with easy access to essential information which is

News Commercial LinesInsuranceMarkets / CoveragesTechnology

Worldwide small- and medium-sized business IT spending to top US$676 billion in 2021: International Data Corporation

July 26, 2017 by Canadian Underwriter

Total IT spending by small- and medium-sized businesses (SMBs) around the globe will approach US$568 billion in 2017 and increase by more than $100 billion to exceed US$676 billion in 2021, according to the International Data Corporation (IDC). IDC, the

News InsuranceMarkets / CoveragesPersonal Lines

Alternate dispute resolution, tripling accident benefits among potential solutions for B.C. auto insurance: EY

July 26, 2017 by Canadian Underwriter

The process of suing for compensation for motor vehicle accidents “could be made far more efficient” in British Columbia, whose monopoly auto insurer’s basic accident benefits are “low compared to modern medical and rehabilitation costs” in care-based auto insurance schemes

News CatastrophesInsurance

Northern Saskatchewan village hit by ‘buckets of water’ during record rain

July 26, 2017 The Canadian Press (CPSTF)

BUFFALO NARROWS, Sask. – A northern Saskatchewan community is drying out after it was hit by what the province’s Water Security Agency calls a one-in-100-year rainstorm this week. Environment Canada says the area in and around Buffalo Narrows was pounded

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DKI Canada welcomes Tammy Nichol to the Corporate Team

July 26, 2017 by DKI Canada

Mississauga, ON – July 12, 2017 – DKI Canada is pleased to announce Tammy Nichol as the incoming Director for Atlantic Canada. Tammy will be based in Halifax, Nova Scotia Tammy brings to DKI close to 20 years combined Insurance, Human Resource Development,

News Commercial LinesEarnings / RatingsInsuranceMergers and AcquisitionsPersonal Lines

Chubb reports P&C combined ratio of 88% for Q2 2017

July 26, 2017 by Canadian Underwriter

Chubb Limited has reported a P&C combined ratio of 88% for the second quarter of 2017 ending June 30, down 3.2 points from 91.2% in the same quarter last year. Chubb released its financial results on Tuesday. The insurer reported

News Commercial LinesInsuranceMarkets / CoveragesTechnology

Artificial intelligence saw record high investments in Canada in past five years: report

July 26, 2017 by Canadian Underwriter

Artificial Intelligence (AI) attracted US$162 million in investments across 12 deals in the first half of 2017, the highest amount of funding in Canada in the past five years, according to the quarterly MoneyTree Canada Report from PwC Canada and