Segment
Reinsurance
Aon celebrates 20th by building playgrounds across country
April 24, 2007 by Canadian UnderwriterIn celebration of its 20th anniversary on the New York Stock Exchange (AOC:NYSE), Aon Corporation has signed up to be a part of the People Helping People program, and has pledged to build a series of playgrounds across Canada.While the…
What’s New: In Brief (April 24, 2007)
April 24, 2007 by Canadian UnderwriterPolicy Works Inc. has announced the launch of its Certified Data-Exchange Partner Program, designed to recognize insurers who have worked in partnership with Policy Works Inc. to ensure accurate transfer of commercial lines information. The program focuses on three key…
S&P’s raises Lloyd’s financial strength rating to ‘A+’
April 23, 2007 by Canadian UnderwriterStandard & Poor’s Ratings Services increased its financial strength rating on the U.K.-based Lloyd’s insurance market (Lloyd’s or the Market) to ‘A+’ from ‘A.’ At the same time, Standard & Poor’s raised its counterparty credit rating on The Society of…
Canadian reinsurance market sees drop in cession rates
April 19, 2007 by Canadian UnderwriterThe Canadian reinsurance market has been impacted by a decrease in cession rates, and now there is a need for sustainability to combat the volatile underwriting results, Jean-Jacques Henchoz, president and CEO of Swiss Reinsurance Company of Canada, told attendants…
Decreased reinsurance premium pool in 2007: Partner Re
April 18, 2007 by Canadian UnderwriterRenewals in January 2007 have demonstrated some negative trends in the market that are expected to intensify through 2007, according to Partner Res 2006 Annual Report, entitled The Value of Risk.Partner Re reported that Jan. 1, 2007 was a good…
Interest in stand-alone terrorism cover increases in Canada
April 18, 2007 by Canadian UnderwriterA combination of increased capacity, more predictable premium rates and innovative program design is creating steady growth in the take up of stand-alone terrorism insurance, according to Aons latest Stand-alone terrorism market update. Also, the ongoing bombardment of television images…
What’s New: In Brief (April 17, 2007)
April 17, 2007 by Canadian UnderwriterThe Women in Insurance Cancer Crusade (WICC) Ontario Chapter has issued a call for golfers to register for this years golf tournament to be held, rain or shine, on Monday, July 16th. Participants will be warming up the greens at…
What’s New: In Brief (April 16, 2007)
April 16, 2007 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) is crediting its anti-fraud programs with saving motorists more than $75 million. Savings are based on the estimated value of fraudulent claims that were denied, money recovered and savings generated through fraud prevention.…
Integro appoints new chief financial officer
April 16, 2007 by Canadian UnderwriterIntegro Ltd. announced the appointment of Robert F. X. Feeney as chief financial officer.Feeney succeeds Joseph Salerno, a member of the initial leadership team, who is retiring, says an Integro press release.In his role as CFO he will have responsibility…
Converium urges shareholders to reject SCOR’s offer
April 13, 2007 by Canadian UnderwriterConverium Holding AGs board of directors is urging its shareholders to reject SCOR S.A.s offer to purchase the registered shares in Converium held by the public, claiming that the offer fundamentally undervalues the Companys franchise and growth prospects.After careful consideration…
What’s New: In Brief (April 13, 2007)
April 13, 2007 by Canadian UnderwriterFairfax Financial Holdings Limited (TSX and NYSE: FFH), a financial services holding company engaged in insurance and reinsurance, has filed a preliminary short form base shelf prospectus with the Canadian securities regulatory authorities, allowing Fairfax to offer from time to…
Swiss Re issues securities covering earthquakes in Canada
April 10, 2007 by Canadian UnderwriterSwiss Re has structured and placed US$150 million [approximately Cdn$172 million] of securities covering flood and earthquake catastrophic events in Canada, Great Britain, and the United States on behalf of Allianz Global Corporate & Specialty AG.The multiperil issuance is part…