Canadian Underwriter

Segment
Brokers


News Insurance

Lloyd’s flexibility showing in 2004/5: Benfield

December 2, 2004 by Canadian Underwriter

The financial strength of Lloyd’s, as well as its flexibility, have been evident since 9/11, according to a new report on the London market by reinsurance broker Benfield Group.Lloyd’s maintains a strong competitive position with the significant increase in market

News Insurance

What’s new: In brief (December 01, 2004)

December 1, 2004 by Canadian Underwriter

The Property & Casualty Insurance Compensation Corp. (PACICC) has joined together with other financial services insolvency groups to launch a new website for consumers. The site, www.financeprotection.ca, includes information on PACICC, as well as compensation plans for savings, investments and

News InsuranceMergers and Aqcuisitions

Industry putting $2 million towards winning public confidence

December 1, 2004 by Canadian Underwriter

Canadian p&c insurers have earmarked $2 million to invest in strategies to win back public confidence following recent years of consumer backlash against the industry, says the outgoing chair of the Insurance Bureau of Canada (IBC).State Farm Insurance Cos. senior

News Climate ChangeInsurance

What’s new: In brief (November 30, 2004)

November 30, 2004 by Canadian Underwriter

Jardine Lloyd Thompson CEO Steve McGill has announced his resignation, concurrent with the brokerage reporting earnings significantly below forecast. Financial results indicate the company’s earnings will almost 19% short of analysts’ targets. The reason, the company notes in a statement,

News Insurance

Anthony Clark restatement lowers 2003 earnings by 11%

November 29, 2004 by Canadian Underwriter

The restatement of 2003 yearend earnings by Calgary-based brokerage Anthony Clark International Brokers (TSX: ACL), has resulted in an 11% drop in earnings.The company previously reported a net loss of $933,000, but has now increased this loss to $1.05 million.

News Insurance

Storms hit European reinsurers’ earnings, but not balancesheets: Benfield

November 29, 2004 by Canadian Underwriter

The U.S. hurricanes and Japanese typhoons of the third quarter did deal a blow to the earnings of top European insurers, but balance sheets remained strong, according to the latest quarterly report by broker Benfield Group.In “Riders on the Storm”,

News Climate ChangeInsurance

Hurricanes take small bite out of Bermuda players’ earnings: Benfield

November 28, 2004 by Canadian Underwriter

In its quarterly analysis of the top 16 Bermuda-based reinsurers, broker Benfield Group reports the third-quarter U.S. and Japanese hurricanes took their toll on earnings which have been persistently strong in the past few years.Net income dropped to US$3.3 billion,

News Insurance

What’s new: In brief (November 28, 2004)

November 28, 2004 by Canadian Underwriter

A hearing by the New York Insurance Department into possible violations by brokerage Marsh has been postponed. The hearing, originally set for November 26 has now been moved into next year, rescheduled for January 18. The reason for the delay

News Insurance

ERC joins ranks of admitted "bid rigging" cos.

November 24, 2004 by Canadian Underwriter

A five-week internal investigation carried out by Employers Reinsurance Corp. (ERC) has revealed "a limited number of isolated issues" that could pertain in the ongoing Spitzer investigation into questionable business bidding practices within the insurance industry. The "issues" in question

News InsuranceMergers and Aqcuisitions

Nova Scotia’s NDP attacks broker contingent commissions

November 23, 2004 by Canadian Underwriter

Nova Scotia’s opposition party, the NDP, has once again taken charge at insurers by adding their voice to the furor surrounding the payment of broker contingency commissions. Citing research carried out by federal regulator, the Office of the Superintendent of

News Insurance

AIG announces settlement with SEC

November 23, 2004 by Canadian Underwriter

American International Group (AIG) has made an offer of settlement to the Securities Exchange Commission (SEC) with regard to a civil suit brought against the company and AIG Financial Products Corp. in the Spitzer probe regarding rigged bidding and fees

News Insurance

New MGA built on need for better corporate governance

November 22, 2004 by Canadian Underwriter

Although the new Executive Risk Services Ltd. is a managing general agent (MGA) focused on the directors’ and officers’ (D&O) market, its CEO says the company is also committed to helping organizations practice better risk management.Executive Risk has been up