News
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…
Drivers believe car insurance myths
July 26, 2005 by Canadian UnderwriterA recent online survey of 1,000 drivers finds the majority of drivers believe common car insurance myths to be true, according to U.S.-based insurer Drive Insurance from Progressive. The survey found myths drivers believe include: * 25% drivers believe insurers…
Everest Re reports second quarter earnings
July 26, 2005 by Canadian UnderwriterEverest Re Group, Ltd. (NYSE: RE) recently reported second quarter 2005 after-tax operating income, which excludes realized capital gains and losses, of $173.3 million, or $3.03 per diluted share, a nominal decrease compared to $174.4 million, or $3.07 per diluted…
Yukon broker under investigation
July 25, 2005 by Canadian UnderwriterInvestigators from Alberta are probing allegations that a Whitehorse insurance broker stole clients’ money, leaving approximately 30 Yukon Territories Insurance Solutions policyholders dealing without the insurance coverage they paid for, according to Yukon government officials.The Yukon government’s supervisor of insurance…