Belton third-quarter predictions
January 1, 1999 by Canadian UnderwriterDuring the third quarter of 1998, preliminary net earning returns of Canadian property and casualty companies were down $59 million in comparison to the same quarter in 1997, says the latest issue of The Belton Report. The combined impact of…
U.S. cat losses continue
January 1, 1999 by Canadian UnderwriterCatastrophe losses continued to dampen U.S. property and casualty underwriters’ results for the third quarter of 1998, according to A.M. Best Company. The industry’s net income for the period fell 15% from the previous year’s level, due to higher underwriting…
Queensway consolidates Alliance
January 1, 1999 by Canadian UnderwriterQueensway Financial Holdings Ltd. (QFH) has entered into an agreement to acquire Alliance Insurance Group, a property and casualty insurance holding company located in Chicago, Illinois. Alliance, posting gross premiums written totalling $17 million in 1997, specializes through subsidiaries in…
Tossed Salad
January 1, 1999 Sean van Zyl, EditorThe change occurring in traditional business roles, and to some extent the outright turmoil this is causing in certain quarters of the property and casualty insurance industry, continues to hold centre stage at professional gatherings. Preparing for the future, dealing…
RIBO meeting stresses industry SELF-REGULATION
January 1, 1999 Sean van Zyl, EditorThe last six years have seen dramatic change in the structure and method of business of the property and casualty insurance industry. These “winds of change” sweeping through the industry are primarily a result of the unprecedented consolidation activity and…
SIZING UP IN: a TUG of WAR
January 1, 1999 Lowell ConnA battle of brawn and wits has begun among service providers to the insurance industry in response to the rapid consolidation taking place at the primary company level.Faced with a changing landscape, service providers are looking for new opportunities and…