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Aon sees small growth in Q1 revenue

May 7, 2008 by Canadian Underwriter

Aon Corporation (NYSE: AOC) reported a 2008 Q1 profit of US$218 million, marking a 2% increase over the same period of last year.The company’s Risk and Insurance Brokerage Services revenue increased 9% compared to the prior-year quarter, according to a

News InsuranceMergers and Aqcuisitions

AXA reports increased P&C revenues in 2008 Q1

May 7, 2008 by Canadian Underwriter

AXA reported its 2008 Q1 property and casualty revenues increased by 2% to EUR8.885 million (Cdn$13.74 billion), up from EUR8.625 billion (Cdn$13.33 billion) in 2007 Q1.“This solid performance resulted from positive new business volumes with personal motor and household net

News Insurance

What’s New: In Brief (May 07, 2008)

May 7, 2008 by Canadian Underwriter

Terrie-Lynne Devonish, chief counsel for Aon Canada, was recognized as one of Canada’s Top 40 Under 40. The program, managed by The Caldwell Partners, recognizes Canada’s best and brightest through the prestigious national award. The program honours 40 Canadians in

News Insurance

Swiss Re’s Q1 profit dips

May 6, 2008 by Canadian Underwriter

Swiss Re reported a net income of CHF624 million (approx. Cdn$594 million) for 2008 Q1, a decrease of 53% over last year’s first quarter.“The reduction was attributable to the continuing turmoil in the financial markets and the resulting additional market-to-market

News Insurance

What’s New: In Brief (May 06, 2008)

May 6, 2008 by Canadian Underwriter

Echelon General Insurance Co. is underwriting a new insurance program for sheep farmers to better manage risk in case of an outbreak of blue tongue, an insect-borne viral disease of sheep.The Canadian Sheep Federation (CSF) and federal government teamed up

News Insurance

McDougall Insurance acquires George A. Grant Insurance Brokers

May 6, 2008 by Canadian Underwriter

McDougall Insurance and Financial, billed as the largest independent insurance broker in eastern Ontario, just got bigger, purchasing Napanee’s largest independent brokerage firm, George A. Grant Insurance Brokers Ltd.“This deal is especially gratifying, because it keeps independent insurance brokers like

News Insurance

What’s New: In Brief (May 06, 2008)

May 6, 2008 by Canadian Underwriter

The Standard Insurance Brokers Ltd. intends to acquire Canada Brokerlink’s northwestern Ontario offices in Kenora, Sioux Lookout, Red Lake and Dryden’s Skillen-Squire, as per a letter of intent. The acquisition is subject to certain conditions and the terms of the

News Insurance

Crawford reports highest quarterly earnings since 2001

May 5, 2008 by Canadian Underwriter

Crawford & Company (NYSE: CRDA and CRDB) reported a 2008 Q1 net income of US$9.1 million, an increase of US$5.8 million over the same period of last year.The company’s U.S. property and casualty operations reported revenues of US$49.5 million in

News InsuranceMergers and Aqcuisitions

Co-Operators reports increase in profit, loss ratio and combined ratio

May 5, 2008 by Canadian Underwriter

Co-Operators General Insurance Company reported a 2008 Q1 net income of Cdn$10.5 million, an increase of Cdn$2.3 million over the same period of last year.Net earned premium for 2008 Q1 was Cdn$484.2 million, an increase from 2007 Q1’s Cdn$462.4 million,

News Climate ChangeInsurance

New Brunswick launches emergency recovery program for non-insured flood losses

May 5, 2008 by Canadian Underwriter

The Government of New Brunswick has launched a detailed recovery program for victims of recent flooding along the St. John River system.“This comprehensive program will help New Brunswickers recover from flood damage and return to their way of life as

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (May 05, 2008)

May 5, 2008 by Canadian Underwriter

About 40% of Canadians renovated their home last year; of those that did, about 67% that did neglected to consult a broker or insurance company, according to a Royal & SunAlliance (RSA) survey. Homeowners are investing in renovations and valuable

News Insurance

Fairfax sale of credit default swaps leads to increased 2008 Q1 earnings

May 2, 2008 by Canadian Underwriter

Fairfax Financial Holdings Limited (TSX and NYSE: FFH) reported net earnings of US$631.8million in 2008 Q1, based largely on the strength of the sale of credit default swaps.In comparison, the company’s net earnings were US$110.9 million in 2007 Q1.Fairfax reported