Segment
P&C Companies
Desjardins reports strongest Q1 in company’s history
May 28, 2007 by Canadian UnderwriterDesjardins Financial Security has reported the strongest first quarter in the companys history. The company reported 2007 Q1 net earnings of Cdn$49.8 million, a 65.3% increase from 2006 Q1. Insurance premium income rose by Cdn$60.1 million in 2007 Q1, to…
What’s New: In Brief (May 28, 2007)
May 28, 2007 by Canadian UnderwriterBMO Insurance will be the official insurance services supporter of the FIFA U-20 World Cup Canada 2007, making BMO Insurance one of the four national supporters of the tournament.We are very proud to be a part of the FIFA U-20…
Market discipline critical, OSFI tells insurance industry
May 28, 2007 by Canadian UnderwriterProperty and casualty companies enjoyed 20% or more returns on equity in 2006, but even a minor change in the economic environment can lower these numbers, Canadas acting financial superintendent told attendees of the 2007 Property and Casualty Insurance Industry…
OSFI in 2007 preparing for fair value accounting, pandemics
May 28, 2007 by Canadian UnderwriterThe Office of the Superintendent of Financial Institutions (OSFI) in 2007 is preparing to move to International Financial Reporting Standards (IFRS).[OSFI] will soon begin to determine the implications for Canadian financial institutions and supervisors, Julie Dickson, OSFIs acting superintendent, told…
Swiss Re promotes risk analysis in light of EU “polluter-pays” legislation
May 25, 2007 by Canadian UnderwriterNew, polluter-pay environmental legislation in the European Union is based on a new liability regime under public law and will create unprecedented loss complexes for which claims experience is not yet available, according to a recent report by Swiss Re.It…
Crawford & Company expands alliance with MJM Investigations
May 25, 2007 by Canadian UnderwriterCrawford & Company (Canada) Inc. is expanding their strategic global alliance with MJM Investigations into Canada. MJM provides investigative products and services to insurance carriers and is Crawfords preferred provider of both surveillance services and global insurance fraud mitigation and…
Sharing risk knowledge a key to sustainable insurance: UN report
May 25, 2007 by Canadian UnderwriterSharing risk knowledge, forming public-private partnerships, using information technology and partnering for distribution and consumer education are all means insurers can use to implement a campaign of proactive engagement in sustainable insurance, according to a report released by the Insurance…
Bermuda insurers face rate pressures; warns A.M. Best
May 25, 2007 by Canadian UnderwriterThe calm 2006 storm season showered benefits on Bermuda insurers, but A.M. Best is warning that last years strong performance has set the stage for increased pressure on rates as a whole.In its 2007 Special Report: Bermuda 12-Month Financial Review,…
WHO pushes international sharing of H5N1 vaccines
May 24, 2007 by Canadian UnderwriterIn an attempt to better prepare all countries in the case of an influenza pandemic, the World Health Organization (WHO) has reached an agreement that encourages international cooperation to ensure equal access to H5N1 vaccines and other pandemic vaccines. The…
SCOR to take WTC settlement to arbitration
May 24, 2007 by Canadian UnderwriterSCOR Reinsurance has served notice that it intends to take to arbitration a recent US$2-billion settlement that was designed to bring an end to the six-year legal battle between seven insurers and the leaseholder of the World Trade Centre over…
RIMS publishes compensation survey
May 24, 2007 by Canadian UnderwriterOn average, a U.S. enterprise-wide risk management professional earns an annual salary of US$130,997, according to The Risk and Insurance Management Society Inc. (RIMS)s 2007 Risk Management Compensation Survey.The survey presents base salary and incentive data for 12 industry-specific jobs,…
What’s New: In Brief (May 24, 2007)
May 24, 2007 by Canadian UnderwriterRose Adams has been appointed to branch manager of Crawford & Companys (Canada) Medicine Hat branch effective June 18, 2007. Rose has made a tremendous contribution to the company since joining us, Walter Waugh, vice president of operations for Prairies,…