Canadian Underwriter

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Insurance


News Insurance

Insurers still have “mountains to move”: S&P

October 12, 2004 by Canadian Underwriter

In its latest “industry report card” on North American insurance holding companies, rating agency Standard & Poor’s says the more stable outlook on the p&c industry should not be cause for celebration just yet. “there are a few mountains to

News Insurance

Allianz granted license as “branch” of U.S. operation

October 12, 2004 by Canadian Underwriter

Allianz’s remaining business in Canada Allianz Global Risks (AGR Canada) has received approval from the federal insurance regulator to operate as a branch of Allianz Global Risks US Insurance Company.The company also expects to receive its provincial licenses in November,

News Climate ChangeInsurance

What’s new: In brief (October 12, 2004)

October 12, 2004 by Canadian Underwriter

RBC Insurance is extending the capabilities of its sales force to banking products. The company says in a statement, it can now allow its “career sales force” to offer clients “enhanced access” to RBC Royal Bank personal banking and lending

News Insurance

ING buys Allianz book; Allianz retains global risks

October 11, 2004 by Canadian Underwriter

Ending weeks of speculation, ING says it has bought Allianz of Canada Inc., although Allianz will retain the industrial lines book in Canada under Allianz Global Risks.The Allianz of Canada Inc. portfolio of p&c business includes subsidiaries Allianz Insurance Co.

News InsuranceMergers and Aqcuisitions

Chubb tops claims survey again; industry numbers high

October 11, 2004 by Canadian Underwriter

Despite public backlash over auto insurance rates over the past few years, the industry continued to score relatively high marks for claims satisfaction in its largest market. The Ontario auto claims satisfaction survey, which includes 50 writers of personal lines

News InsuranceMergers and Aqcuisitions

MPI study highlights motorcycle risk

October 11, 2004 by Canadian Underwriter

Despite rising premiums for motorcyclists in Manitoba, other drivers continue to subsidize this high-risk group, according to a new survey released by that province’s public insurer.Analysis of claims figures shows that for motorcyclists to pay premiums consistent with their share

News Climate ChangeInsurance

Personal property results strong despite catastrophes: A.M. Best

October 11, 2004 by Canadian Underwriter

Canadian personal property insurers produced continued strong results in 2003, despite wildfire and hurricane losses, according to a new study by A.M. Best.The statistical study shows the Canadian personal property industry produced a loss ratio of 61% last year, despite

News Insurance

Emerging markets on “frontier of insurance”: Swiss Re

October 7, 2004 by Canadian Underwriter

Non-life premiums in emerging markets are expected to double over the next decade, according to Swiss Re’s latest sigma study. While premiums in these markets, which include Africa, Asia, Eastern Europe, Latin America and the Middle East, were about US$123

News Insurance

"Significant strides" made in corporate governance: Moody’s

October 7, 2004 by Canadian Underwriter

In a study of 169 U.S. and Canadian entities over the past year, rating agency Moody’s says great strides have been made towards better corporate governance.Among the improvements, Moody’s finds greater commitment by directors for such functions as risk management,

News Insurance

Optimum General upgraded by A.M. Best

October 7, 2004 by Canadian Underwriter

Following improved financial performance, three of the four subsidiaries of Montreal-based Optimum General Inc. have been upgraded by A.M. Best to "B-" (fair) from "C++" (marginal). These ratings apply to Optimum Insurance Co., Optimum Farm Insurance Inc. and Optimum Frontier

News Insurance

What’s new: In brief (October 07, 2004)

October 7, 2004 by Canadian Underwriter

SGI Canada kicked off its last “Charity Curling Classic” Thursday, wrapping up a 12-year tradition which has raised more than $250,000 for local charities. The five-day event features some of the biggest names in international curing Canada’s Guy Hemmings, Jan

News Insurance

What’s new: In brief (October 06, 2004)

October 6, 2004 by Canadian Underwriter

As expected, drug maker Merck is already facing lawsuits after pulling its pain medication Vioxx from the shelves. The company announced the move last week, in response to concerns over the drug’s side effects. Vioxx is used widely by arthritis