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U.S. execs cite competition as top risk

August 8, 2007 by Canadian Underwriter

Competition was viewed as the number one risk ranked by a survey of 150 U.S. executives in Protivitis 2007 U.S. Risk Barometer.Customer satisfaction, the regulatory environment, information systems and IT security, and changing markets make up the first five of…

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ING Canada’s 2007 Q2 profit down 5.7% as a result of storms, property losses

August 8, 2007 by Canadian Underwriter

ING Canada Inc. (TSX: IIC) reported a 2007 Q2 net income of Cdn$194.3 million, down 5.7% from the Cdn$206 million it reported in 2006 Q2.The company said its growth in direct premiums written remained strong during the quarter despite overall…

News Insurance

Swiss Re reports 68% increase in profits over 2006 Q2

August 7, 2007 by Canadian Underwriter

Swiss Re reported a 68% increase in its property and casualty business over 2006 Q2, with a total earnings of CHF 1.2 billion [approximately Cdn$1.05 billion] throughout 2007 Q2.Overall, compared to 2006 Q2, premiums earned increased 17% to CHF 8…

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What’s New: In Brief (August 07, 2007)

August 7, 2007 by Canadian Underwriter

Western Financial Group Inc. has completed the acquisition of Blonde & Blonde in Kelowna, B.C., Baxter Agencies, formerly a Trans West Insurance office, in Lac La Biche, AB, and Nielsen & Wolfe Agencies in Morrin, AB.“We are pleased to be…

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (August 03, 2007)

August 3, 2007 by Canadian Underwriter

General Motors (GM) has announced that it will be using a PPG basecoat system in all of its dealership repairs. The PPG Envirobase High Performance and Nexa Autocolor Aquabase Plus waterborne basecoat systems from PPG Automotive Refinish recently received the…

News Insurance

Kingsway’s Canadian subsidiaries report good 2007 Q2 results

August 3, 2007 by Canadian Underwriter

Kingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) has reported a 2007 Q2 net income of US$41.7 million, a 4% increase over the same quarter last year.In a press release, Bill Star, the president and CEO, said he was pleased with the…

News Climate ChangeInsuranceMergers and Aqcuisitions

Tropial storm Chantal batters Newfoundland

August 2, 2007 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is urging residents of Newfoundland and Labrador to contact their insurance representatives after being battered by tropical storm Chantal.The storm blasted the eastern third of the province with high winds and approximately 150 millimetres…

News Insurance

2007 Q2 profit for The Co-operators dips slightly

August 2, 2007 by Canadian Underwriter

Co-operators General Insurance Company announced its 2007 Q2 net income was down marginally, dropping from Cdn$49.6 million in 2006 Q2 to Cdn$48.9 million in 2007 Q2.The companys 2007 Q2 gross written premium decreased 0.7% to Cdn$$598.6, compared to Cdn$602.8 million…

News Insurance

What’s New: In Brief (August 01, 2007)

August 1, 2007 by Canadian Underwriter

The Economical Insurance Group is maintaining its investment as a full partner of the Broker Identity Program for 2007, the Insurance Brokers Association of Canada (IBAC) has announced.By investing in the program, The Economical supports the message being delivered every…

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Manitoba and Saskatchewan strike commercial vehicle registration deal

August 1, 2007 by Canadian Underwriter

A new commercial vehicle registration agreement has been struck between the Saskatchewan and Manitoba governments.The new reciprocal agreement will allow commercial trucks, buses and taxis to operate within 16 kilometres of the Saskatchewan-Manitoba border without having to pay for two…

News InsuranceMergers and Aqcuisitions

Research shows 1-in-5 drivers report accident in past 10 years

July 31, 2007 by Canadian Underwriter

Of the total car insurance quotes completed online at kanetix.ca in 2006, almost 20% included at least one accident during the past ten years.Researchers at kanetix.ca, an online service offering automobile insurance quotes to Canadians in Ontario, Alberta, Quebec, New…

News Insurance

Everest Re’s 2007 Q2 international premiums grow

July 31, 2007 by Canadian Underwriter

Everest Re Group Ltd. has reported a 2007 Q2 net income of US$283 million, up from US$220 million in 2006 Q2.Over the first six months of 2007, the company generated a net income of US$580 million for an annualized ROE…