Segment
P&C Companies
ICBC reports $256 million profit for first half of ’07
August 9, 2007 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) has reported a net income of Cdn$256 million for the first half of 2007, an increase from Cdn$110 million from the same period in 2006.Insurance premiums earned in the first six months of…
U.S. execs cite competition as top risk
August 8, 2007 by Canadian UnderwriterCompetition was viewed as the number one risk ranked by a survey of 150 U.S. executives in Protivitis 2007 U.S. Risk Barometer.Customer satisfaction, the regulatory environment, information systems and IT security, and changing markets make up the first five of…
ING Canada’s 2007 Q2 profit down 5.7% as a result of storms, property losses
August 8, 2007 by Canadian UnderwriterING Canada Inc. (TSX: IIC) reported a 2007 Q2 net income of Cdn$194.3 million, down 5.7% from the Cdn$206 million it reported in 2006 Q2.The company said its growth in direct premiums written remained strong during the quarter despite overall…
Swiss Re reports 68% increase in profits over 2006 Q2
August 7, 2007 by Canadian UnderwriterSwiss Re reported a 68% increase in its property and casualty business over 2006 Q2, with a total earnings of CHF 1.2 billion [approximately Cdn$1.05 billion] throughout 2007 Q2.Overall, compared to 2006 Q2, premiums earned increased 17% to CHF 8…
What’s New: In Brief (August 07, 2007)
August 7, 2007 by Canadian UnderwriterWestern Financial Group Inc. has completed the acquisition of Blonde & Blonde in Kelowna, B.C., Baxter Agencies, formerly a Trans West Insurance office, in Lac La Biche, AB, and Nielsen & Wolfe Agencies in Morrin, AB.“We are pleased to be…
What’s New: In Brief (August 03, 2007)
August 3, 2007 by Canadian UnderwriterGeneral Motors (GM) has announced that it will be using a PPG basecoat system in all of its dealership repairs. The PPG Envirobase High Performance and Nexa Autocolor Aquabase Plus waterborne basecoat systems from PPG Automotive Refinish recently received the…
Kingsway’s Canadian subsidiaries report good 2007 Q2 results
August 3, 2007 by Canadian UnderwriterKingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) has reported a 2007 Q2 net income of US$41.7 million, a 4% increase over the same quarter last year.In a press release, Bill Star, the president and CEO, said he was pleased with the…
Tropial storm Chantal batters Newfoundland
August 2, 2007 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) is urging residents of Newfoundland and Labrador to contact their insurance representatives after being battered by tropical storm Chantal.The storm blasted the eastern third of the province with high winds and approximately 150 millimetres…
2007 Q2 profit for The Co-operators dips slightly
August 2, 2007 by Canadian UnderwriterCo-operators General Insurance Company announced its 2007 Q2 net income was down marginally, dropping from Cdn$49.6 million in 2006 Q2 to Cdn$48.9 million in 2007 Q2.The companys 2007 Q2 gross written premium decreased 0.7% to Cdn$$598.6, compared to Cdn$602.8 million…
What’s New: In Brief (August 01, 2007)
August 1, 2007 by Canadian UnderwriterThe Economical Insurance Group is maintaining its investment as a full partner of the Broker Identity Program for 2007, the Insurance Brokers Association of Canada (IBAC) has announced.By investing in the program, The Economical supports the message being delivered every…
Manitoba and Saskatchewan strike commercial vehicle registration deal
August 1, 2007 by Canadian UnderwriterA new commercial vehicle registration agreement has been struck between the Saskatchewan and Manitoba governments.The new reciprocal agreement will allow commercial trucks, buses and taxis to operate within 16 kilometres of the Saskatchewan-Manitoba border without having to pay for two…
Everest Re’s 2007 Q2 international premiums grow
July 31, 2007 by Canadian UnderwriterEverest Re Group Ltd. has reported a 2007 Q2 net income of US$283 million, up from US$220 million in 2006 Q2.Over the first six months of 2007, the company generated a net income of US$580 million for an annualized ROE…