News
Renaissance Re served lawsuit
July 29, 2005 by Canadian UnderwriterRenaissanceRe Holdings Ltd. along with current and former executives were recently served a shareholder lawsuit filed by investors claiming they were misled about the firm’s true financial condition.Goodkind Labaton Rudoff & Sucharow L.L.P. and Philadelphia-based Goldman Scarlato & Karon P.C.…
Enterprise risk management, important but neglected
July 29, 2005 by Canadian UnderwriterEnterprise risk management is increasingly important as a tool to analyze and confront risks with 91% of risk management executives approximately 247 of the 271 surveyed by the Conference Board and risk management consulting firm Mercer Oliver Wyman inclined toward…
Co-operators reports Q2 profit of $32.4 million (July 29, 2005)
July 29, 2005 by Canadian UnderwriterCo-operators General Insurance Company’s financial results for the second quarter represent a consolidated after-tax net income of $32.4 million, compared to $38.0 million income for the same period in 2004.Gross written premium in the second quarter increased 0.9% to $578…
What’s New: In brief (July 28, 2005)
July 28, 2005 by Canadian UnderwriterMany women business owners are willing to take substantial risks to ensure the success of their business, according to a new study from the Center for Women’s Business Research underwritten by Wells Fargo. “Women Entrepreneurs Savvy About Risk,” says women…
Willis Group net income Q2, $119 million
July 28, 2005 by Canadian UnderwriterWillis Group Holdings Limited (NYSE: WSH), net income for the quarter ended June 30, 2005 was $119 million, or $0.72 per diluted share, compared with $96 million, or $0.57 per diluted share, a year ago. Results for the second quarter…
XL Capital Q2 2005 net income, $135.9 million
July 28, 2005 by Canadian UnderwriterXL Capital Ltd (NYSE: XL – News) recently reported net income available to ordinary shareholders for the quarter ended June 30, 2005 of $135.9 million, or $0.97 per ordinary share, compared with $363.6 million, or $2.62 per ordinary share, for…
Standard and Poor’s rates high excess casualty risk
July 28, 2005 by Canadian UnderwriterCapital markets minimize exposure to catastrophic insurance risks and as a result, public and private equity investors are buying notes exposed to natural peril and mortality catastrophic risks with high excess casualty exposure recently being securitized and rated by Standard…
Industrial Alliance Q2 grows 10% in profitability
July 27, 2005 by Canadian UnderwriterIndustrial-Alliance Insurance and Financial Services Inc. today reported its second-quarter profit rose 10%.Industrial Alliance Insurance and Financial Services, based in Quebec, has boosted profits by 10% as it experienced Q2 higher premium incomes. Net income was $44.5 million or $0.56…
Chubb’s Q2 net income, $496 million
July 27, 2005 by Canadian UnderwriterThe Chubb Corporation (NYSE: CB News) net income in the second quarter of 2005 is $496 million, a 39% increase over net income of $356 million in the second quarter of 2004. Net income per share increased 32% to $2.45…
Hub reports quarterly dividend and Q2 growth
July 27, 2005 by Canadian UnderwriterHub International Limited (TSX:HBG) recently reported its 2Q and first-half revenue rose sharply, reflecting both the benefits of acquisitions and strong organic growth. Revenue for the quarter ended June 30, 2005 increased 37% to US$112.7 million from US$82.2 million a…
LCBO fund raises for the Traffic Injury Research Foundation
July 27, 2005 by Canadian UnderwriterPublic donations to the Traffic Injury Research Foundation (TIRF) will be facilitated by all 600 LCBO stores throughout Ontario from Aug. 1 until Aug. 31, 2005.TIRF founded in 1964 is set to reduce traffic-related deaths and injuries by promoting and…
What’s New: In brief (July 27, 2005)
July 27, 2005 by Canadian UnderwriterCARSTAR Automotive Canada recently sponsored the solar-powered car dubbed Soleon engineered by students at the University of Calgary which will competed in the North American Solar Challenge race starting in Austin, Texas on July 17 and ending in Calgary on…