Segment
Reinsurance
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…
PartnerRe increases profit in 2007 Q2, but non-life net premiums written “flat”
July 23, 2007 by Canadian UnderwriterPartnerRe Ltd. has reported a 2007 Q2 profit of US$105 million, up from a profit of US$77.5 million in 2006 Q2.The global reinsurers 2007 Q2 combined operating ratio was 85.7%, down from the 90.3% it reported in 2006 Q2.Net premiums…
Guy Carp forced to take case across the pond
July 13, 2007 by Canadian UnderwriterThe UKs Court of Appeal handed down judgement that three former Guy Carpenter executives who defected to competitor Integro must be sued in the UK, where they live and work, not in New York, where Guy Carps parent company is…
What’s New: In Brief (July 09, 2007)
July 9, 2007 by Canadian UnderwriterA new poll by the Traffic Injury Research Foundation (TIRF) shows that nearly 1.3 million Ontarians fell asleep or nodded off while driving at least once in the past year, with 100,000 of these drivers doing so on five or…
TSR downgrades 2007 storm forecast
July 6, 2007 by Canadian UnderwriterThe Tropical Storm Risk (TSR) has downgraded the hurricane forecast from 55% above-norm in June to 40% above-norm in July. According to a Benfield news release, the reason for the reduction is that the trade wind speed over the tropical…
What’s New: In Brief (July 05, 2007)
July 5, 2007 by Canadian UnderwriterA.M. Best Co. has affirmed the financial strength rating of A (excellent) of Royal Bank of Canada Insurance Company Ltd. (RBCI). RBCI benefits from a very secure equity capital base, a broad geographical spread of risk, which is concomitant with…
What’s New: In Brief (July 03, 2007)
July 3, 2007 by Canadian UnderwriterA.M. Best Co. is hosting a comprehensive, one-day conference in Toronto to explore the issues facing the Canadian insurance industry. The 2007 Review& Preview ConferenceCanadian Update will be held Sept. 21 from 8:30 a.m. to 3 p.m. at the Westin…
What’s New: In Brief (June 29, 2007)
June 29, 2007 by Canadian UnderwriterSwiss Re has created what it says are the first catastrophe bond indices on the market, A.M. Best has reported, giving the market better information on returns related to risk.Richard Pennay, in the structuring department at Swiss Re Capital Markets,…
Insured damages creep past Cdn$1 billion in UK floods
June 28, 2007 by Canadian UnderwriterInitial estimates by Risk Management Solutions (RMS) suggest insured losses from recent floods that continue to batter the United Kingdom could exceed 500 million [Cdn$1.06 billion]. The rainfall situation, caused by a stationary east coast depression that draws moisture from…
What’s New: In Brief (June 28, 2007)
June 28, 2007 by Canadian UnderwriterSimmlands Insurance Brokers Ltd. is joining forces with Women in Insurance Cancer Crusade (WICC) to present the 2007 Canadian PGA Womens Championship Pro-Am on July 30 at the Ladies Golf Club of Toronto.This inaugural event will provide a fun-filled day…
What’s New: In Brief (June 27, 2007)
June 27, 2007 by Canadian UnderwriterBenfield has inked an agreement with Lloyds to provide an extensive range of risk modelling and consulting services to the market and its syndicates. Under the terms of the five-year agreement, Lloyds will license Benfields dynamic financial analysis modelling tool…
Guy Carpenter increases presence in Bermuda
June 26, 2007 by Canadian UnderwriterGuy Carpenter & Company LLC, a global risk and reinsurance specialist, has appointed a new Head of Office and expanded its office capabilities and resources in the Bermuda reinsurance market. It has been a landmark year for Guy Carpenter, as…