Segment
Risk Management
What’s New: In Brief (May 04, 2007)
May 4, 2007 by Canadian UnderwriterNorthbridge Financial Corporation (TSX:NB), a Canadian commercial property and casualty insurance group, has announced net earnings of Cdn$45 million for 2007 Q1, compared to net earnings of Cdn$61.8 million for 2006 Q1.Underwriting profit was Cdn$18.1 million for 2007 Q1, a…
Standard and Poor’s boosts Arch’s financial strength ratings
May 4, 2007 by Canadian UnderwriterStandard & Poor’s Ratings Services has raised its counterparty credit and senior debt ratings on Arch Capital Group Ltd. (NASDAQ:ACGL) to ‘BBB+’ from ‘BBB’. At the same time, Standard & Poor’s raised its counterparty credit and financial strength ratings on…
What’s New: In Brief (May 03, 2007)
May 3, 2007 by Canadian UnderwriterRisk managers are accustomed to taking steps to protect their businesses from fires and floods, but are beginning to consider other, less tangible risks, A.M. Best reportsIn addition to traditional risks, risk managers are focusing on their companys economic, social…
What’s New: In Brief (May 02, 2007)
May 2, 2007 by Canadian UnderwriterThose who travel globally will be better covered thanks to a new comprehensive risk management package introduced by XN Financial. The new program can be customized to meet the needs of the traveller or travelers and is not limited to…
Kingsway ‘disappointed’ with Lincoln General results
May 2, 2007 by Canadian UnderwriterKingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) has reported a 2007 Q1 profit of US$19.6 million, compared to US$28.9 million in 2006 Q1.The company’s combined ratio was 105% in 2007 Q1, compared to 96.2% in 2006 Q1.Changes in estimated unpaid claims…
Janice Ochenkowski to become RIMS president in September 2007
May 1, 2007 by Canadian UnderwriterJanice Ochenkowski will be the new president of The Risk and Insurance Management Society Inc., beginning Sept. 1, 2007.RIMS made the announcement at the opening session of its annual conference exhibition, currently being held in New Orleans, L.A.Ochenkowski is the…
What’s New: In Brief (May 01, 2007)
May 1, 2007 by Canadian UnderwriterCommercial insurance pricing trends in 2007 Q1 seem to be in line with 2006 Q1, according to the RIMS Benchmark Survey in 2007.Directors and Officers (D&O) and workers compensation are both decreasing, proving to remain highly competitive, the survey notes.…
Swiss Re notes disconnect between risk and mitigation
May 1, 2007 by Canadian UnderwriterTheres a growing disconnect between risk and mitigation, and bold action must be taken to address it, a Swiss Re executive member told a panel discussion at RIMS 2007 in New Orleans.Agostino Galvagni, a member of Swiss Res executive board…
Atlantic insurance marketplace improves, task force finds
April 30, 2007 by Canadian UnderwriterInsurers have improved their communications with the public and forged better relationships with consumers and governments, according to the Progress Report on Commercial Insurance in Atlantic Canada.In general, the insurance marketplace has improved over the past 16 months, the report…
Marsh wages campaign to promote the “upside” of risk
April 30, 2007 by Canadian UnderwriterMarsh Inc., a risk and insurance services firm, has launched a new branding campaign, encouraging businesses to focus on the upside of risk.The campaign, created by the New York office of Ogilvy, seeks to disrupt the traditional view of risk…
European bank, insurer team up to create new financial company, reinsurer
April 30, 2007 by Canadian UnderwriterIn a European marriage between banking and insurance, NATIXIS, an investments and projects bank, has partnered with the White Mountains Insurance Group, Ltd., to create Pentelia Capital Management (PCM), an asset management company based in Bermuda.In addition, the two companies…
Risk managers and senior company executives at odds over risks
April 27, 2007 by Canadian UnderwriterTop-level company executives and risk managers may not always see eye-to-eye when it comes to the risks associated with international expansion, according to the 2007 Chubb International Risk Survey. The survey was conducted jointly in March 2007 by Opinion Research…