News

OdysseyRe Holdings Corp. (NYSE: ORH) has filed a registration statement with the U.S. Securities and Exchange Commission related to a secondary offering of OdysseyRe’s common stock.OdysseyRe announced it filed the statement at the request of its majority shareholder, Fairfax Financial…

Toronto’s Hospital for Sick Children has recently completed renovations to its Plastic Surgery Clinic. The new clinic was made possible by a Cdn$500,000 donation from the KRG Children’s Charitable Foundation.Enriching and enhancing children’s lives is what it’s all about for…

Saskatchewan motorists will now be alerted of poor driving conditions on Regina’s Ring Road and Highway #1 bypass thanks to new message boards stationed beside the roadway in four different locations.The boards, which are remotely activated, have changeable messages that…

Zurich Financial Services Group (Zurich) reports that continued strong operating performances in all business segments generated a record business operating profit and net income for the nine months ending at Sept. 30, 2006.“Our focus on operational excellence continues to generate…

Guy Carpenter & Company Ltd., a global risk and reinsurance specialist, and Lloyd’s insurer Amlin (LSE: AML) say they have completed the Market’s first fully paperless claim settlement.The claim settlement was made possible through the successful implementation of Electronic Claims…

Seventy-one Grade 9 students attended the Insurance Institute’s Feed the Minds of Youth day, held in conjunction with Take Your Children to Work Day in Toronto in November.A total of seven insurance companies participated in the event, in which the…

Global reinsurers in took advantage of relatively mild weather conditions in 2006 to stabilize their balance sheets after a particularly tough 2005 season, a report by Standard & Poor’s observes.The report says reinsurers for the most part took steps to…

Canada’s average reported Directors & Officers (D&O) liability insurance limit was just under Cdn$71 million, according to a survey of 270 TSX/S&P companies.Hunters International Insurance, a Toronto-based company, conducted the study. It found the highest reported overall D&O limit in…

Fairfax Financial Holdings Limited has restated audited financial statements in 2005 and parts of 2006 to correct a U.S. GAAP accounting error.Also, it announced the acquisition of additional shares in Torstar Corporation, the parent company of the Toronto Star.Fairfax is…

The Insurance Bureau of Canada is teaming up with Ontario Safety League to give partygoers a free ride this holiday season.At a news conference held in Toronto, IBC announced it is sponsoring Operation Red Nose (ORN) in seven Ontario communities…

CGI Group Inc. (TSX: GIB.A; NYSE: GIB) has reported 2006 revenue of Cdn$3.48 billion.“This is Cdn$208 million lower than fiscal 2005, driven by the negative impact of a strengthening Canadian dollar (Cdn$106.4 million) as well as lower BCE work volumes…

Property and casualty insurance claims containing some element of fraud cost Canadians between $200 million and $300 million in 2005, according to statistics released at a Toronto roundtable exploring fraud in Canada“Industry statistics estimate that of the Cdn$20 billion paid…