News

ACE Limited (NYSE: ACE) has announced some key financial guidelines for its group of companies for the full year 2006.“Property and casualty net earned premium growth is expected to average 6% to 8% for the full year,” ACE announced in…

The more stringent capital requirements of ratings agencies post-Katrina will challenge the ability of new Bermuda reinsurers to generate attractive financial returns, according to a new study by Benfield Group Ltd.“Most business plans [of the new reinsurers in Bermuda] indicate…

The Terrorism Risk Insurance Revision Act of 2005 has been approved by a voice vote from house lawmakers and the legislation is now awaiting a sign-off from President Bush.The federal terrorism backstop is in line to be renewed in two…

Western Financial Group (TSX – WES, WES.DB.A) has acquired Leroy Agencies in Leroy, Saskatchewan, which offers an insurance program in the hog farming industry.<br>The Company also acquired Coronation Alberta-based NHI Agencies, which is a oil and gas and farming centre…

Equisure Financial Network Inc. has announced an agreement with the Autorit des marchs financiers (AMF) that will conclude the Quebec regulatory agency’s examination into the business practices of the property and casualty insurance brokerages that Equisure represents in the province.Under…

AIG United Guaranty Canada, which will be open and licensed in 2006, has named Andy Charles as president.The company is an affiliate of AIG United Guaranty, which provides mortgage guaranty insurance designed to increase home ownership. Beginning in 2006, AIG…

The Insurance Corporation of British Columbia’s (ICBC) contribution of 50% funding for a bicycle patrol program was recently approved by Burnaby city council. The North Road Business Improvement Association already agreed to pay 10% of the funding and the city…

The Chubb Corporation (NYSE: CB) expects to garner a pre-tax gain of $200 million gaining $168 million in the fourth quarter of 2005 and $32 million deferred from it’s recently completed strategic transaction of the new global reinsurance company Harbor…

Integro (Canada) Ltd. recently named Suzanne Cuillerier as principal and head of construction in the Montral office. Cuillerier brings over 25 years of experience in the property and casualty brokerage sector including eight years at Willis Canada where she most…

Strategy International Insurance Group, Inc. (OTCBB: SGYI) (“Strategy”) has announced that its subsidiary, Strategy Holding Company Limited, has finalized the transaction for the sale of $700 million of preferred stock of Strategy Holding Company to Grupo Lakas S.A., a Panamanian…

The primary non-life sector is expected to attain positive results in 2006 with primary premiums growing above inflation and specifically, significant increases arising in classes impacted by 2005’s hurricane season, Swiss Re reported at its recent annual review and outlook…

State Farm Insurance has announced it is issuing refunds to approximately 3,800 automobile insurance policyholders in New Brunswick as a result of an error in the application of a New Business Discount that was introduced in 2000. The average refund…