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Canadian insurer CFO panel predicts further M&A activity in five years’ time

May 20, 2010 by Canadian Underwriter

Three P&C chief financial officers – representing Intact Financial Corporation, Northbridge Financial Corporation and RSA Canada Group – see Canada’s Top 10 property and casualty insurance companies controlling about 8% more of the market sometime over the next five years.Speaking

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2010 Q1 insured natural disaster losses highest since 1994

May 20, 2010 by Canadian Underwriter

Insured natural catastrophe losses in 2010 Q1 totalled $9.5 billion, the highest since 1994 Q1.Insured damages in 2004 Q1 reached $26.4 billion (in 2010 dollars) when the Northridge (U.S.) earthquake occurred, reports the Insurance Information Institute.Total insured losses arising from

insPRESS Insurance

5 New Online Photo Gallery updates now live at canadianunderwriter.ca

May 20, 2010 Canadian Underwriter magazine

5 new industry event galleries have been added to the Online Photo Gallery at canadianunderwriter.ca and are featured in the May 2010 issue of Canadian Underwriter magazine. To view all the galleries at canadianunderwriter.ca click the link below: The recent

News Climate ChangeInsuranceMarkets / Coverages

Insurance industry teetering on edge of profitability: Lloyd’s CEO

May 19, 2010 by Canadian Underwriter

One more catastrophic event in 2010 could tip the insurance industry into a loss position, guardian.co.uk quoted Richard Ward, Lloyd’s CEO, as saying.Ward spoke at the Insurance Day Summit in London on May 18. He described 2010 as the “worst

News InsuranceMarkets / Coverages

Soft market likely to persist through 2010: Marsh

May 19, 2010 by Canadian Underwriter

The soft market in the Canadian commercial property and casualty sector will likely not bottom out until late 2010, possibly early 2011, Marsh reports.In its report, Competition Nets Rewards – Multinational Client Service Insurance Market Report 2010, Marsh examines trends

News Insurance

XN Financial launches moving and storage insurance program

May 19, 2010 by Canadian Underwriter

An online moving and storage insurance program – CapMove.com – has been introduced by XN Financial Services Inc. in partnership with Capacity Coverage of New Jersey, Inc. The new moving insurance program combines Capacity’s moving and storage industry expertise with

News InsuranceMarkets / Coverages

Brokers ability to present a risk as good quality key to ensuring coverage

May 19, 2010 by Canadian Underwriter

The quality of a broker’s presentation of risk is the most important factor considered by underwriters when deciding whether or not to take on a risk, according to a Marsh survey.An independent research firm polled underwriters in seven global insurance

News InsuranceMarkets / Coverages

ICBC reports increased net income for 2010 Q1

May 19, 2010 by Canadian Underwriter

ICBC reported a net income of $155 million for 2010 Q1, an increase from $117 million in 2009 Q1. An increase in premiums written – up to $860 million in 2010 Q1 from $843 million 2009 Q1 – was a

News Insurance

St. John’s bestows award on RIMS Canada conference committee

May 19, 2010 by Canadian Underwriter

St. John’s Downtown Development Commission recognized The 2009 RIMS Canada Conference Committee with an Award of Distinction. The ‘Destination St. John’s Award of Distinction’ is presented to a conference chair/committee who, through the hosting of a conference in St. John’s,

News Insurance

Canadian property and casualty industry over-capitalized and under-performing: Cook

May 18, 2010 by Canadian Underwriter

Canadian property and casualty insurers’ over-capitalization and low return on investment mitigates against new capital being invested into the industry, said Philip Cook, CEO of Omega Insurance Holdings. Cook spoke as a panel member at the Property and Casualty Underwriters’

News Insurance

Lack of major Canadian claims affects Crawford & Company’s 2010 Q1 revenues

May 18, 2010 by Canadian Underwriter

The revenues of Crawford & Company’s international segment were affected by the lack of weather-related claims in the Canadian market, the company reported in its 2010 Q1 financial statement. “Our international operations segment continued to be a strong contributor, even

News Insurance

Crawford & Company (Canada) appoints two new branch managers

May 18, 2010 by Canadian Underwriter

Brian Hambly has been promoted to branch manager of Crawford & Company (Canada) Inc.’s Toronto East branch. Hambly joined Crawford in 1995. He specializes in commercial auto and CGL claims, and has been the control adjuster for several car rental