EGI Financial Holdings Inc. (TSX: EFH) reported a net income of Cdn$3.026 million in 2008 Q3, marking a 32.2% decrease from the Cdn$4.462 million reported in the same period of last year.Underwriting income fell 57.2% quarter over quarter from Cdn$3.536…
Marsh & McLennan Companies, Inc. (MMC) reported a 2008 Q3 net loss of US$8 million, noting its revenue growth was 2% on an underlying basis before the impact of acquisitions and dispositions.Marsh’s 2007 Q3 result was substantially higher, a profit…
Standard & Poor (S&P)’s has affirmed the A+ financial ratings of ING Canada’s primary operating subsidiaries, with a stable outlook. S&P’s has withdrawn the ratings at the request of ING Canada, according to an ING Canada release. Gilles Gratton, vice…
Swiss Re reported a net loss of CHF 304 million (about Cdn$301 million) for 2008 Q3. The company reported a profit of CHF1.469 billion (about Cdn$1.183 billion) in the same period of last year. Earnings for the first nine months…
An Ontario Superior Court judge has issued a strong rebuke to the insurance industry for failing to resolve coverage disputes between insurers quickly, thereby causing a public fund to pay statutory benefits to victims during the time it takes to…
CNA Financial Corporation (NYSE: CNA) has reported a net loss of US$331 million for 2008 Q3, a drop from last year’s Q3 profit of US$174 million.The company’s consolidated combined operating ratio was 114.1% for the quarter, up from 2007 Q3’s…
Crawford & Company reported a net income of US$6.9 million in 2008 Q3, up from US$3.5 million for the same quarter last year. Net income in the first nine months of 2008 was US$23.9 million, up 87% from US$12.8 million…
One out of 25 (or 4.2%) of Grade 9 to Grade 11 students in the United States report driving at least one hour a week without supervision, according to research undertaken by The Children’s Hospital of Philadelphia and State Farm…
The Canadian property and casualty industry reported a profit of Cdn$1.4 billion in the first half of 2008, a 30% drop year-over-year, Swiss Re reports in its Canadian P&C Quarterly.During the first half of 2008, the industry’s return on equity…
Co-Operators General Insurance Company reported a net income of Cdn$29.3 million for 2008 Q3, compared to Cdn$30.3 million for the same period of 2007.The company saw its combined ratio increase to 103.5% in the quarter, from 99.9% in 2007 Q3.…
Standard & Poor’s has distinguished between other-than-temporary-impairments (OTTI) and fixed maturity portfolios when gauging the potential impact of unrealized losses on insurers’ financial and credit ratings.The recognition of OTTIs is more likely to signal a true economic loss and result…
Fairfax Financial Holdings Limited (TSX: FFH) reported a 2008 Q3 net profit of US$467.6 million, an increase from 2007 Q3’s profit of US$253.2 million.These Q3 results include net gains on investments of US$856.8 million and US$274.6 million of net catastrophe…