News

Pharmaceutical insurers underwriting huge liabilities and risks in the United States are migrating to a much-friendlier climate in Canada, according to a report by A.M. Best. Canadas feature attraction is that its legal environment is much more predictable than that…

Kingsway Financial Services Inc. has issued a statement clarifying and correcting certain remarks made in the course of a conference call regarding the companys 2007 Q3 statements held on Nov. 8, 2007. During the conference call, statements were made which…

The Insurance Corporation of British Columbia (ICBC) has reported strong financial results for the first nine months of 2007, but remains cautious of increasing claims costs.Net income for the first nine months of 2007 was Cdn$526 million, an increase of…

South Barrie Collision Centre in Barrie, Ont. has gone green and is now using environmentally compliant waterborne paint. The state-of-the-art 40,000 sq. ft. collision centre, which is co-owned by six local auto dealers, is part of the national CertifiedFirst Network.…

A Financial Services Commission of Ontario (FSCO) decision came down on the side of an insurer appealing an arbitrators order that it produce all its current and any future surveillance information, supporting correspondence and reports regarding any surveillance of a…

Goldman Sachs, a full-service global investment banking and securities firm, is entering into the global property and casualty insurance business.Arrow Syndicate 1910 is to enter the Lloyds insurance market in January 2008, according to its managing agency Whittington Group. Arrow…

Munich Re Group has posted profit exceeding 3.3 billion (roughly Cdn$4.5 billion) in the first nine months of 2007. In the third quarter, we again posted excellent results, and are now harvesting the fruits of our strict profit orientation, John…

Munich Re Group has posted profit exceeding 3.3 billion (roughly Cdn$4.5 billion) in the first nine months of 2007. In the third quarter, we again posted excellent results, and are now harvesting the fruits of our strict profit orientation, John…

EGI Financial Holdings Inc. (TSX: EFH) has reported a profit of Cdn$4.5 million for 2007 Q3, marking an 18.7% decrease over last years Q3.The company reported a combined ratio of 88.5% and Cnd$42.3 million in direct written premiums, a 45.1%…

Climatologists are warning that the recent wildfires in California may be a result of climate change and a taste of things to come, reports Lloyds.Models are suggesting the North American west coast is experiencing longer-term precipitation patterns several wet years…

ING Canada has reported a Cdn$64-million decrease in its 2007 Q3 profits. This year, the company reported a 2007 Q3 net income of Cdn$92 million, down from Cdn$156.8 million over the same period last year. For the first nine months…

Resolve Corporation, a Mississauga-based business processing outsourcing firm, and Health Claims for Auto Insurance (HCAI) Processing have entered into a three-year partnership that will see Resolve manage the transcription of paper forms for Ontarios new electronic system for processing auto…