Topic
Insurance
Willis strengthens Canadian contingent
August 10, 2006 by Canadian UnderwriterWillis Group Holdings (NYSE: WSH), the global insurance broker, continues to strengthen its presence in key geographic markets across North America with a senior appointment in its Canadian operations. The Company recently welcomed Calgary-based Cees van der Slikke as the…
ING Canada reports 2006 Q2 net income of CD$205.9 million
August 10, 2006 by Canadian UnderwriterING Canada Inc. (TSX: IIC) reported net income of CD$205.9 million for the three months ended June 30, 2006, down CD$17.7 million, or 7.9%, from the record results achieved during 2005 Q2.Revenues for 2006 Q2 amounted to CD$1.097 billion, compared…
Aviva plc sets record COR of 92% in first half of 2006
August 9, 2006 by Canadian UnderwriterAviva plc is reporting “record half-year results” during the first six months of 2006, with “strong performance across all businesses and geographies.”Worlwide, the company’s operating profit increased 27%, to 1.699 billion (CD$3.62 billion). Canadian operations accounted for 85 million (CD$181…
What’s New: In brief (August 09, 2006)
August 9, 2006 by Canadian UnderwriterZurich North America Commercial, a unit of the Zurich Financial Services Group, will welcome Mike Foley of McKinsey & Co. to the position of chief operating officer as of Sept. 1. Foley’s responsibilities will include taking charge of all operating…
Hub International CFO becomes CEO of Hub Ontario
August 8, 2006 by Canadian UnderwriterDennis J. Pauls has been named president and CEO of Hub International Ontario Limited (“Hub Ontario”).Pauls previously served as the CFO of Hub International Limited (NYSE:HBG) (TSX: HBG) for more than six years. He will assume his new role on…
What’s New: In brief (August 08, 2006)
August 8, 2006 by Canadian UnderwriterMFX has customized a fully integrated, online front and back-end policy processing system for Gateway Insurance Company of St. Louis, MO. Replacing existing technology, this new system integrates third party software with MFX’s WriteNow online underwriting system and its web-based…
Hub acquires specialty brokerage
August 4, 2006 by Canadian UnderwriterHub International Ltd. (NYSE/TSX: HBG) has purchased Post & Kurtz, Inc., an employee benefits insurance brokerage that specializes in serving law firms and other service entities. Post & Kurtz will be integrated into New York-based Hub International Northeast.Marc I. Cohen,…
AXA reports 4% increase in 2006 first-half earnings
August 3, 2006 by Canadian UnderwriterAXA reported its property and casualty revenues increased by 4% during the first half of 2006 to EUR10.8 million (CD$15.6 million). AXA also reported its overall combined ratio improved 0.6 points to 96.9%.“AXA’s performance in the first half of 2006…
Willis sees organic revenue grow
August 3, 2006 by Canadian UnderwriterWillis Group has reported a 10% growth in its Q2 organic revenue, with double-digit growth from its reinsurance broker business.However, the insurance broker’s net income for the same period dropped 37% from the same period last year to reach US$72…
Hub expands into Florida
August 2, 2006 by Canadian UnderwriterHub International Limited (NYSE/TSX: HBG) has closed the acquisition of Florida-based Fortun Insurance Agency. Through the transaction HUB has acquired the assets of Fortun Insurance (retail), ABCO Insurance (wholesale) and American Inspection Company, as well as the stock of ABCO…
Royal & SunAlliance Acquires EGI Holdings Ltd.
August 1, 2006 by Canadian UnderwriterRoyal & SunAlliance Insurance Group plc has acquired Ireland’s EGI Holdings Ltd. 25.2m (17.3m) payable in cash.“EGI is a well established business with strong positions in a number of specialty lines,” a Royal & Sun Alliance press release says. “In…
Alberta auto insurance reduced
August 1, 2006 by Canadian UnderwriterAlberta’s mandatory auto insurance premiums are set to drop by 3% as of Nov. 1, 2006. The reduction will become effective when Alberta drivers renew their mandatory coverage.Total reductions to Alberta auto insurance premiums have now reduced 18% since the…