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Arthur J. Gallagher reports brokerage segment revenues up US$53.5 million in Q2

July 29, 2016 by Canadian Underwriter

Itasca, Ill.-based Arthur J. Gallagher & Co. (AJG) released its financial results on Thursday, announcing that its brokerage segment revenues were up to US$939.1 million as reported in the second quarter of 2016 from US$885.6 in Q2 2015. For the

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Flood Risk Canada launches live flood sensory system

July 29, 2016 by Canadian Underwriter

Flood Risk Canada, Inc. (FRC) has announced that it will be launching a new flood risk monitoring and prevention tool called “flood sensory system.” Deployed in floodways, the system monitors and alerts on the current water level activity, wind speed

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Revenue for Marsh’s U.S./Canada division up US$44 million to US$804 million in Q2 2016

July 29, 2016 by Canadian Underwriter

Marsh & McLennan Companies, Inc. (MMC) has reported that revenue for the United States/Canada division of Marsh was up to US$804 million for the second quarter of 2016 ending June 30, from US$760 in the same quarter in 2015. For

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The Co-operators reports net loss of $39.1 million in 2016 Q2 for Co-operators General Insurance Company

July 29, 2016 by Canadian Underwriter

Co-operators General Insurance Company, part of The Co-operators Group, took a hit from the devastating Fort McMurray wildfire, reporting a consolidated net loss of $39.1 million for 2016 Q2 compared to a net income of $58.2 million for 2015 Q2.

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XL Group reports combined ratio up 6.1 points in second quarter, net income drops substantially

July 28, 2016 by Canadian Underwriter

Global insurance and reinsurance company XL Group plc reported on Wednesday that its P&C combined ratio climbed 6.1 points in the second quarter of 2016 to 96%, while net income attributable to ordinary shareholders of US$43.8 million for the quarter

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Aspen Insurance combined ratio up 7.1 points in Q2 2016, gross written premiums increase by 10.9%

July 28, 2016 by Canadian Underwriter

Aspen Insurance Holdings Limited has reported a combined ratio of 100.7% for the second quarter of 2016 compared with 93.6% for the second quarter of 2015. Hamilton, Bermuda-based Aspen Insurance also reported a net income after tax of US$64.9 million

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Loss ratio up 3 points for Arch Capital

July 28, 2016 by Canadian Underwriter

Arch Capital Group Ltd. reported Wednesday a 1.4-point increase in its second-quarter combined ratio and 42% increase in net income, with growth in its travel, construction and national accounts. Pembroke, Bermuda-based Arch Capital’s operations include commercial insurer Arch Insurance Canada

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June hail and rainstorms in Prairies cost an estimated $50 million in insured damage: CatIQ

July 28, 2016 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) reported on Thursday that a severe storm that swept across the Prairies late last month has resulted in more than an estimated $50 million in insured damage. The figure is based on an estimate

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Chubb Limited’s net income for 2016 Q2 down 22.8% from 2015 Q2

July 28, 2016 by Canadian Underwriter

Higher natural catastrophe losses globally were among the factors contributing to Chubb Limited reporting US$726 million in net income for the three months ended June 30, 2016 compared to US$942 million for the prior-year quarter. Chubb’s net income was also

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SCOR reports combined ratio of 93.8% for first half of 2016, up from 90.9% for the first six months of 2015

July 28, 2016 by Canadian Underwriter

Global reinsurer SCOR announced on Wednesday that its Global P&C segment recorded “strong technical profitability with a robust net combined ratio of 93.8% despite a high number of events in all perils and regions in the second quarter of 2016

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Insurance Brokers Association of Ontario announces Colin Simpson as new CEO

July 28, 2016 by Canadian Underwriter

The Insurance Brokers Association of Ontario (IBAO) has announced the appointment of Colin Simpson as CEO, effective Wednesday. IBAO president Doug Heaman made the announcement on behalf of the association’s executive committee and recruitment committee. Simpson brings more than 15

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Trillium Mutual obtains CSIO certification for personal lines eDocs

July 27, 2016 by Canadian Underwriter

The Centre for Study of Insurance Operations (CSIO) announced on Wednesday that Trillium Mutual Insurance Company has become the latest company to obtain CSIO certification for Personal Lines eDocs. When eDocs are used to their full potential, sending, receiving, sorting,