Canadian Underwriter

News


News Insurance

Lloyd’s investors could see 5-10% returns for 2005: Moody’s

June 29, 2004 by Canadian Underwriter

In its comment on the Lloyd’s market, Moody’s Investors Service says based on the strong underwriting results currently posted by the market, investors could see returns of 5-10% of capacity for the 2005 underwriting year, on top of 12% returns…

News Insurance

U.S. first quarter results shine on underwriting gains

June 29, 2004 by Canadian Underwriter

U.S. property and casualty insurers have cause to celebrate, posting net income for the first quarter more than double that reported a year earlier, as rate increases over the past three years make their way to the bottom-line.Overall, net income…

News Insurance

P&C assets grow on investment gains

June 28, 2004 by Canadian Underwriter

Improved performance of equity markets has boosted the total admitted assets of the U.S. p&c industry, according to a new report by A.M. Best.2003 saw p&c assets grow by almost 13%, double in increase seen in 2002. Total admitted assets…

News Climate ChangeInsurance

What’s new: In brief (June 28, 2004)

June 28, 2004 by Canadian Underwriter

Fairfax’s Crum & Forster Holdings has named Nikolas Antonopoulos as chair of the board of its insurance operating subsidiaries. He was also recently named CEO of these operations, succeeding Bruce Esselborn, who has retired. Taking over Antonopoulos’ former role as…

News Insurance

India top spot for offshoring: Deloitte

June 28, 2004 by Canadian Underwriter

A study of financial services offshoring practices finds India remains the top stop, with over 80% of offshoring moving there. The study by Deloitte Research finds the offshoring trend is on the rise, up 38% this year over last.The top…

News InsuranceMergers and Aqcuisitions

Leaked reports suggest no public auto for New Brunswick

June 28, 2004 by Canadian Underwriter

Actuarial reports leaked to Canadian Press suggest the New Brunswick government will announce tomorrow that public auto is off the table.The actuarial studies, which were reported widely Monday in Atlantic Canada’s newspapers, suggest that a public system would actually cost…

News Insurance

P&C insurers playing catch-up on expense reduction: Conning

June 27, 2004 by Canadian Underwriter

Compared to their peers, p&c insurers are not doing enough to reduce expenses, suggests a new report from Conning. While banks have managed at 20% expense reduction over the past 20 years, p&c insurers have seen expenses remain relatively stagnant.…

News Insurance

European insurers see improved results for 2003

June 27, 2004 by Canadian Underwriter

2003 yearend results for European insurers show total premium income up 0.9% and investment income rising 6.9%, according to results from the Comite Europeen des Assurances (CEA).In its “European Insurance in Figures”, the CEA notes total number of companies in…

News Insurance

Earnings volatility continues to decline: Aon

June 27, 2004 by Canadian Underwriter

Property & casualty insurers have seen a combination of underwriting discipline and capital management lead to lower earnings volatility in 2003, according to an annual study by international broker Aon Corp.The study measures earnings volatility over one, two, three and…

News InsuranceMergers and Aqcuisitions

What’s new: In brief (June 27, 2004)

June 27, 2004 by Canadian Underwriter

Insurance Corp. of B.C. has paid out $4.4 million in tax grants to communities, which the Crown corporation does in lieu of paying real property and business taxes. Thirty communities received grants of between $10,000 to $1 million. Those communities…

News Insurance

Upgrades outpace downgrades for Canadian insurers

June 24, 2004 by Canadian Underwriter

A synopsis of recent rating actions by A.M. Best shows Canadian p&c insurers bucking the trend to produce more upgrades than downgrades. Nine insurers saw their ratings rise, while four were downgraded. The rater also added four new ratings to…

News InsuranceMergers and Aqcuisitions

What’s new: In brief (June 24, 2004)

June 24, 2004 by Canadian Underwriter

SIAA Canada has signed its newest master broker, Brokers Helping Brokers Alliance, and its founders, Rhodes & Williams Ltd. of Ottawa also join the SIAA network. BHB Alliance will cover eastern Ontario, and will help small to mid-size brokers obtain…