Topic
Insurance
More business leaders should drive BPM: survey
May 3, 2006 by Canadian UnderwriterWhen 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…
Hub acquires assets of Hirsch Wolf & Co.
May 3, 2006 by Canadian UnderwriterThe 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…
Marsh reports 1% decrease in 2006 1Q revenues
May 3, 2006 by Canadian UnderwriterMarsh & 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…
ICBC’s costs continue to rise in 2006 1Q
May 3, 2006 by Canadian UnderwriterICBC 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…
Guy Carpenter unveils e-file claims initiative for UK reinsurers
May 2, 2006 by Canadian UnderwriterGuy 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…
ING Canada seeking future acquistions
May 2, 2006 by Canadian UnderwriterFollowing 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…
IBC launches public education workshops in Atlantic Canada
May 2, 2006 by Canadian UnderwriterCanada’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…
OARBIC releases new transactional insurance portal
May 2, 2006 by Canadian UnderwriterOARBIC, 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…
Odyssey Re reports 2006 1Q earnings
May 1, 2006 by Canadian UnderwriterOdyssey Re Holdings Corp. (NYSE: ORH) has reported investment and net income increases for 2006 1Q, as well as a significant improvement in its combined operating ratio (COR) over the same period last year.Odyssey Re reported net income available to…
ICBC launches motorcycle awareness campaign
May 1, 2006 by Canadian UnderwriterICBC is starting a public awareness campaign in May 2006 to raise awareness of collisions involving motorcycles.According to the ICBC, in 2004, about 1,250 people were injured and 43 were killed in motorcycle-related crashes. Many fatalities are the result of…
Fairfax reports 2006 1Q earnings of US$172.1 million
May 1, 2006 by Canadian UnderwriterFairfax Financial Holdings Limited (TSX:FFH.SV) (NYSE:FFH) had net earnings of US$172.1 million during the first quarter of 2006, compared to US$35.2 million in 2005, the company has announced. “Despite some softening in market conditions, the combined ratio of the company’s…
Loyalist reports decreasing revenues
May 1, 2006 by Canadian UnderwriterThe Loyalist Insurance Group Limited (TSX Venture Exchange symbol: LOY), which operates in three Ontario locations as well as Charlotte, North Carolina, has reported decreasing revenues for the year ending 2005 from $2.43 million in 2004 to $2.011 million in…