Topic
Insurance
Arch Capital Group reports healthy 2006 earnings
October 27, 2006 by Canadian UnderwriterBuoyed by a relatively quieter hurricane season in 2006 than in 2005, Arch Capital Group Ltd. (NASDAQ: ACGL) reports that net income available to common shareholders was US$185.8 million for 2006 Q3.In contrast, the group reported a net loss of…
ARC Group Canada launches in Toronto
October 27, 2006 by Canadian UnderwriterThe ARC Group Canada Ltd. celebrated its launch at the Ontario Club in Toronto Oct. 26.The ARC Group is a network of independent law firms across Canada that have joined together to deliver services to insurers, self-insured companies and other…
Allianz “upset” about U.S. court ruling in 9/11 insurers’ case: ARC panelist
October 27, 2006 by Canadian UnderwriterAllianz was perhaps the only insurer to finalize exclusions in its World Trade Center (WTC) policy coverage prior to the building’s 2001 destruction in a terrorist attack, but ended up paying out anyway because a lower U.S. court didn’t recognize…
Hub financial results rise
October 26, 2006 by Canadian UnderwriterHub International Limited (NYSE/TSX: HBG) has experienced strong improvement in both its revenue and key expense ratios for the three months and nine months ended September 30, 2006.The company reports that its revenue increased 29% to US$126.5 million in the…
Calgary receives disaster recovery fund
October 26, 2006 by Canadian UnderwriterThe province of Alberta has approved a CD$1 million disaster recovery program that will help residents of Calgary and De Winton recover from severe storms and heavy rainfall that occurred on June 21, July 6, July 9 and August 3,…
Strong growth forecast for Aviva
October 26, 2006 by Canadian UnderwriterAviva plc has achieved strong growth in its new business while sustaining the profitability of its sales, according to group chief executive Richard Harvey. “This result proves the competitive advantage we’re building through our worldwide business model and demonstrates Aviva’s…
Bermuda reinsurers Q3 results up
October 26, 2006 by Canadian UnderwriterBermuda-based reinsurers Montpelier Re Holdings Ltd. And Endurance Specialty Holdings Inc. have both experienced increases in their net income for the third quarter of 2006.Montpelier Re’s net income for Q3 of 2006 is US$180.7 compared to a net loss of…
SCM acquires adjusting firm
October 25, 2006 by Canadian UnderwriterSCM Adjusters Canada Ltd. recently concluded an acquisition agreement with Pritchard, Woodall & Associates.The acquisition became effective as of October 1, 2006.Pritchard, Woodall & Associates has a “solid reputation” within the adjusting industry and SCM says the Company is well…
Auto Theft ring busted by joint IBC, government project
October 25, 2006 by Canadian UnderwriterThe Ontario Provincial Auto Theft Team received congratulations from the Insurance Bureau of Canada (IBC) on its involvement in Project Eastbound and the resulting bust of an inter-provincial auto theft ring that recovered CD$6million in high end vehicles.“Auto theft is…
Canadian law association supports insurance and risk management industry
October 25, 2006 by Canadian UnderwriterThe firm of Hughes Amys LLP has joined seven law firms from coast to coast to form the ARC Group Canada Inc.The ARC Group is a network of independent law firms across Canada focusing on the areas of insurance law…
York Fire & Casualty branded by IBAC
October 25, 2006 by Canadian UnderwriterThe York Fire & Casualty Insurance Company recently joined the Insurance Brokers Association of Canada (IBAC)’s branding campaign, which demonstrate the company’s commitment to Canadian insurance brokers, according to IBAC.As a Full Partner in IBAC’s branding campaign, IBAC CEO Dan…
Ontario auto rate decreases tapering off in 2006 Q3
October 24, 2006 by Canadian UnderwriterOntario has approved an average rate decrease of 0.46% for private passenger auto insurance during the third quarter of 2006, the Financial Services Commission of Ontario (FSCO) has reported.Almost 80% of the Ontario market had rate changes approved during the…