Segment
Risk Management
Aviva offers premium discount in Quebec for hybrid cars
May 17, 2006 by Canadian UnderwriterAviva Insurance Company of Canada, Scottish & York and Traders General Insurance Company, all Aviva Canada Inc. (Aviva) member companies, are rewarding drivers in Quebec who choose to be kind to the environment with an automatic 10% discount on their…
CCIR endorses disclosure principles
May 8, 2006 by Canadian UnderwriterThe Canadian Council of Insurance Regulators (CCIR) has accepted, subject to agreement from the Canadian Insurance Services Regulatory Organizations (CISRO), the recommendations made in a Feb. 13, 2006, joint CCIR and CISRO paper entitled Managing Conflicts of Interest: A Consultation…
RenaissanceRe reports 1Q net premiums up
May 4, 2006 by Canadian UnderwriterRenaissanceRe Holdings Ltd. (NYSE: RNR) today reported US$195.7 million in 2006 first-quarter operating income, compared to US$54.5 million in the first quarter of 2005.Net premiums earned for the first quarter of 2006 were US$351.7 million, compared to US$301.5 million for…
Kingsway sets own Q1 record for underwriting profit
May 4, 2006 by Canadian UnderwriterKingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) reported its net operating income in 2006 1Q increased 11% to US$30 million, compared to US$27 million in 2005 Q1.Underwriting profit during this year’s first quarter set a Q1 record of US$16.4 million, Kingsway…
More business leaders should drive BPM: survey
May 3, 2006 by Canadian UnderwriterWhen it comes to implementing business process management (BPM) in North American insurance companies, business leaders need to become more involved in the process, a May 2005 Gartner survey suggests. Right now, “the IT organization continues to play a visionary…
Hub acquires assets of Hirsch Wolf & Co.
May 3, 2006 by Canadian UnderwriterThe New York subsidiary of Hub International Limited (NYSE:HBG)(TSX:HBG), Hub International Northeast (HUB Northeast), has acquired the assets of Hirsch Wolf & Co., LLC, a Brooklyn-based property and casualty insurance brokerage with special expertise in the healthcare industry. Terms of…
Marsh reports 1% decrease in 2006 1Q revenues
May 3, 2006 by Canadian UnderwriterMarsh & McLennan Companies, Inc. (MMC) reported its consolidated revenues in 2006 1Q were US$3 billion a 1% decline from 2005 1Q. Overall net income in 2006 1Q was US$416 million, compared with US$134 million in 2005. “A number of…
ING Canada seeking future acquistions
May 2, 2006 by Canadian UnderwriterFollowing its recent acquisition of Allianz, ING Canada is seeking further opportunities to expand, ING Canada president and CEO Claude Dussault told an annual general meeting of the company’s shareholders recently.“With the acquisition of Allianz, ING Canada solidified its leading…
IBC launches public education workshops in Atlantic Canada
May 2, 2006 by Canadian UnderwriterCanada’s home, car and business insurers are launching a series of half-day educational workshops across Atlantic Canada to help commercial businesses and non-profit organizations get the most for their insurance dollar.“The workshops are one of several activities underway to help…
Suncor settles business interruption claims for CD$980 million
April 26, 2006 by Canadian UnderwriterSuncor Energy Inc. has settled business interruption insurance claims related to a January 2005 fire at the company’s oil sands facilities for a total amount of CD$980 million (US$830), the company has announced in a press release.Of this total, approximately…
Three Canadians on RIMS’s 2006-07 board
April 25, 2006 by Canadian UnderwriterThree Canadians will serve on the Risk and Insurance Management Society, Inc. (RIMS)’s board of directors in 2006-07.Two Canadians newly voted onto the RIMS board of directors include: Joseph A. Restoule (RIMS Secretary and board director). Roule is a senior…
MFX signs tech deal with C.V. Starr
April 24, 2006 by Canadian UnderwriterMFX, a provider of technology and IT outsourcing solutions, has signed a deal with holding company C.V. Starr for a comprehensive application service provider solution to C.V. Starr’s policy, claims and reinsurance processing needs.C.V. Starr is a New-York based holding…