News

Marsh & McLennan Companies, Inc. (MMC) reported its consolidated revenues in 2006 1Q were US$3 billion a 1% decline from 2005 1Q. Overall net income in 2006 1Q was US$416 million, compared with US$134 million in 2005. “A number of…

ICBC has reported net income of CD$85 million for 2006 1Q, compared to CD$93 million for the same period last year.“Increases in the amount ICBC is paying out to customers with injury claims have continued into the new year,” ICBC…

Guy Carpenter & Company, Inc., a global risk and reinsurance specialist, and a part of the Marsh & McLennan Companies (NYSE: MMC), is launching an Electronic Claims File (ECF) initiative for reinsurers in the London market.Guy Carpenter has been involved…

Following its recent acquisition of Allianz, ING Canada is seeking further opportunities to expand, ING Canada president and CEO Claude Dussault told an annual general meeting of the company’s shareholders recently.“With the acquisition of Allianz, ING Canada solidified its leading…

Canada’s home, car and business insurers are launching a series of half-day educational workshops across Atlantic Canada to help commercial businesses and non-profit organizations get the most for their insurance dollar.“The workshops are one of several activities underway to help…

OARBIC, a specialized IT consulting firm for the property and casualty insurance industry, has just released a new transactional insurance portal called the OARBIC Software Enterprise Application (OSEA). OSEA provides a customizable ‘front end’ and dynamic link to one or…

Odyssey Re Holdings Corp. (NYSE: ORH) has reported investment and net income increases for 2006 1Q, as well as a significant improvement in its combined operating ratio (COR) over the same period last year.Odyssey Re reported net income available to…

ICBC is starting a public awareness campaign in May 2006 to raise awareness of collisions involving motorcycles.According to the ICBC, in 2004, about 1,250 people were injured and 43 were killed in motorcycle-related crashes. Many fatalities are the result of…

Fairfax Financial Holdings Limited (TSX:FFH.SV) (NYSE:FFH) had net earnings of US$172.1 million during the first quarter of 2006, compared to US$35.2 million in 2005, the company has announced. “Despite some softening in market conditions, the combined ratio of the company’s…

The Loyalist Insurance Group Limited (TSX Venture Exchange symbol: LOY), which operates in three Ontario locations as well as Charlotte, North Carolina, has reported decreasing revenues for the year ending 2005 from $2.43 million in 2004 to $2.011 million in…

Arch Capital Group Ltd. (NASDAQ: ACGL) reports that net income available to common shareholders for the 2006 first quarter was US$129.6 million, or $1.71 per share, compared to $115.9 million, or $1.57 per share, for the 2005 first quarter.Gross and…

Co-operators General Insurance Company has reported a consolidated after-tax net income of CD$31.9 million for 2006 1Q, compared to the CD$36.5-million profit for the same period in 2005.Gross written premium during the first quarter increased 5.3% to CD$428 million, the…