News

Reorganization at Co-operators General Insurance Company (TSE: CCS.PR.A) has not yet begun to pay off in early 2001 results. The company, which has seen dismal results in the past several quarters, reports premiums are up, although the effect has yet…

The body representing Lloyd’s Names says the market should see a return to profitability as soon as next year, despite several years of dismal performance. In a recently released report, the Association of Lloyd’s Members, which represents most of the…

A series of recent acquisitions are fueling the earnings growth of broker consolidator Hub International (TSE: HBG).In releasing its second-quarter 2001 results, the Canadian company shows a 22% rise in net earnings and net earnings per share. Net earnings were…

Rating agency Standard & Poor’s has maintained its negative outlook position of the European reinsurance market based on the industry’s 2000 financial returns. If anything, the rating agency notes, the financial strength ratings of companies may be downgraded. Although the…

Rating agency A.M. Best has lifted its "negative outlook" on Lloyd’s of London. The agency has also affirmed the London-based market’s "A" rating. This step follows a negative outlook report which was issued on Lloyd’s on June 28 of this…

Goran Capital Inc. (TSE: GNC), which through its various operating subsidiaries underwrites specialty auto business, reported a net loss of $6.1 million equal to 105c a share for the first three months of its 2001 financial year.For the first six…

Canadian-based pet insurer Pethhealth Inc. (CDNX: PTZ) is laboring through a costly 2001 as expenses related to establishing a U.S. presence take their toll on the company’s bottom-line. Net loss after tax for the second quarter is $2.36 million, or…

Claims management group Crawford Adjusters Canada has acquired Edmonton-based Leonard, Hirst & Miller Adjusters (LH&M) for an undisclosed amount. The firm boosts Crawford’s position in Alberta to nine offices and over 100 employees. LH&M is described as a multi-line adjusting…

Quebec-based Optimum General (TSE: OGI.A) reports weak second-quarter results, despite the company’s moves to respond to poor returns in the past. Gross written premiums and net earned premiums fell, while the company’s combined ratio continues to rise. At the beginning…

Specialty auto insurer Kingsway Financial Services (TSE: KFS; NYSE: KFS) continues to see growth in premiums and earnings mid-way through 2001. In a press release, Kingsway CEO Bill Star notes that the company is reporting record profits, earnings per share…

In a strange twist, Canadian-based Fairfax Financial Holdings continues its downward slide as its reinsurance subisidiary, Odyssey Re, experiences phenomenal growth. In releasing second-quarter 2001 results, Fairfax acknowledges that the company’s profits fell 45%, down to $46 million as compared…

Aon Corporation is expanding its captive and risk management business through the purchase of Sinser Holding AB, a subsidiary of Swedish-based Skandia Group. The capitve management and consulting business deals with more than 250 captives in 10 coutries, and includes…