Canadian Underwriter

Topic
Insurance


News Insurance

Willis reports US$671 million Q1 2006 results

May 4, 2006 by Canadian Underwriter

Willis Group Holdings Ltd (NYSE: WSH) first quarter 2006 revenues increased slightly to US$671 million from the US$669 million for the same in 2005. Willis Group says the effect of foreign currency translation decreased reported revenues by 5% and net

News InsuranceMergers and Aqcuisitions

Saskatchewan’s suspended drivers license program efficient

May 4, 2006 by Canadian Underwriter

Motorists with previous impaired driving convictions are still a problem on Saskatchewan’s roads. Although convicted, many will drive without a proper license and insurance. Mothers Against Drunk Driving (MADD Canada) says these types of drivers are more likely to get

News Climate ChangeInsurance

RenaissanceRe reports 1Q net premiums up

May 4, 2006 by Canadian Underwriter

RenaissanceRe Holdings Ltd. (NYSE: RNR) today reported US$195.7 million in 2006 first-quarter operating income, compared to US$54.5 million in the first quarter of 2005.Net premiums earned for the first quarter of 2006 were US$351.7 million, compared to US$301.5 million for

News InsuranceMergers and Aqcuisitions

Kingsway sets own Q1 record for underwriting profit

May 4, 2006 by Canadian Underwriter

Kingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) reported its net operating income in 2006 1Q increased 11% to US$30 million, compared to US$27 million in 2005 Q1.Underwriting profit during this year’s first quarter set a Q1 record of US$16.4 million, Kingsway

News Insurance

More business leaders should drive BPM: survey

May 3, 2006 by Canadian Underwriter

When it comes to implementing business process management (BPM) in North American insurance companies, business leaders need to become more involved in the process, a May 2005 Gartner survey suggests. Right now, “the IT organization continues to play a visionary

News Insurance

Hub acquires assets of Hirsch Wolf & Co.

May 3, 2006 by Canadian Underwriter

The New York subsidiary of Hub International Limited (NYSE:HBG)(TSX:HBG), Hub International Northeast (HUB Northeast), has acquired the assets of Hirsch Wolf & Co., LLC, a Brooklyn-based property and casualty insurance brokerage with special expertise in the healthcare industry. Terms of

News Insurance

Marsh reports 1% decrease in 2006 1Q revenues

May 3, 2006 by Canadian Underwriter

Marsh & McLennan Companies, Inc. (MMC) reported its consolidated revenues in 2006 1Q were US$3 billion a 1% decline from 2005 1Q. Overall net income in 2006 1Q was US$416 million, compared with US$134 million in 2005. “A number of

News Climate ChangeInsuranceMergers and Aqcuisitions

ICBC’s costs continue to rise in 2006 1Q

May 3, 2006 by Canadian Underwriter

ICBC has reported net income of CD$85 million for 2006 1Q, compared to CD$93 million for the same period last year.“Increases in the amount ICBC is paying out to customers with injury claims have continued into the new year,” ICBC

News Insurance

Guy Carpenter unveils e-file claims initiative for UK reinsurers

May 2, 2006 by Canadian Underwriter

Guy Carpenter & Company, Inc., a global risk and reinsurance specialist, and a part of the Marsh & McLennan Companies (NYSE: MMC), is launching an Electronic Claims File (ECF) initiative for reinsurers in the London market.Guy Carpenter has been involved

News Climate ChangeInsuranceMergers and Aqcuisitions

ING Canada seeking future acquistions

May 2, 2006 by Canadian Underwriter

Following its recent acquisition of Allianz, ING Canada is seeking further opportunities to expand, ING Canada president and CEO Claude Dussault told an annual general meeting of the company’s shareholders recently.“With the acquisition of Allianz, ING Canada solidified its leading

News InsuranceMergers and Aqcuisitions

IBC launches public education workshops in Atlantic Canada

May 2, 2006 by Canadian Underwriter

Canada’s home, car and business insurers are launching a series of half-day educational workshops across Atlantic Canada to help commercial businesses and non-profit organizations get the most for their insurance dollar.“The workshops are one of several activities underway to help

News Insurance

OARBIC releases new transactional insurance portal

May 2, 2006 by Canadian Underwriter

OARBIC, a specialized IT consulting firm for the property and casualty insurance industry, has just released a new transactional insurance portal called the OARBIC Software Enterprise Application (OSEA). OSEA provides a customizable ‘front end’ and dynamic link to one or