Canadian Underwriter


Photos: Eyewire
Feature

Rates Keep on Trucking

July 1, 2002 Craig Harris

Trucking companies, taxi operators and large private fleets are feeling the squeeze of the hard market, with shrinking capacity, increasing rates and restrictive terms and conditions. And, feedback from insurers suggests that there is little relief on the horizon.

Illustration: Leon Zernitsky
Feature

Cover Story: Canadian Reinsurers: Burn Point

July 1, 2002 Sean van Zyl, Editor

Despite the significant rate increases implemented through 2002 renewals, few canadian reinsurers expect this year will produce a desperately needed profit recovery. With several of the major as well as small players on the global stage having recently been downgraded by financial rating agencies, and the parent owners of some of these operations having seemingly lost their appetite for the reinsurance business, market watchers are predicting a new wave of consolidation within the sector. While this pressure has already resulted in global head-office management shakeouts, the burn point seems to be tuning toward local senior managers as the market shifts into full drive in the race for profitability. This may be a hard market, but will the existing players and their senior management survive to see it through?

Feature

Kingsway 1-Q success driven by U.S. operations

June 1, 2002 by Canadian Underwriter

Kingsway Financial Services (TSE, NYSE: KFS) marked yet another record quarter, with net income rising 77% year-on-year for the first three months of 2002. Net income came in at $16.3 million versus $9.2 million for the first quarter 2001. This

News InsuranceMergers and Aqcuisitions

Kingsway Q1 success driven by U.S. operations

May 2, 2002 by Canadian Underwriter

At its AGM in Toronto today, Kingsway Financial Services (TSE, NYSE: KFS) marked yet another record quarter, with net income rising 77% year-on-year for the first three months of 2002. Net income is at $16.3 million versus $9.2 million for

News Insurance

Commercial market in distress, say U.S. agents

April 19, 2002 by Canadian Underwriter

The dire condition facing commercial buyers is evidenced in the Commercial Insurance Market Index for the first quarter 2002, say the index’s creators, U.S.-based Council of Insurance Agents and Brokers (CIAB).The index shows that market tightening continues since the September

Feature

Kingsway reports record quarter

December 1, 2001 by Canadian Underwriter

Specialty insurer Kingsway (TSE: KFS) reported record earnings and revenue for the third quarter 2001. Unlike many insurers who have seen abysmal results due to September 11 losses, Kingsway posted net income of $14.3 million, a 47% increase over the

News Insurance

Kingsway reports record results in Q3

November 9, 2001 by Canadian Underwriter

Specialty insurer Kingsway (TSE:KFS, NYSE:KFS) is reporting record earnings and revenue for the third quarter 2001 (ending September 30). Unlike many insurers who have seen abysmal results due to September 11 losses, Canadian-owned Kingsway is posting a net income of

Feature

Mexico, Untapped Opportunities for Brokers

November 1, 2001 Peter Bassel, Toronto branch manager of Loyalist Insurance Broke

For Canadian brokers, the prospects of developing their existing client relationships by maximizing on the dramatic growth in Canadian business and tourism to and within Mexico is immense. The trick lies in not being overwhelmed by the prospect of dealing with foreign business practices.

Canadians gather at Parliament Hill in Ottawa to express their sympathy and mourn the victims of the September 11 terrorist attacks.
Feature

The Risk of Terror: Lessons From the Disaster

October 1, 2001 Vikki Spencer

As delegates at the 2001 Canadian Risk and Insurance Management Society (CRIMS) Conference learned of the tragic terrorist attacks carried out in the U.S. mid-way through the gathering, normal sessions were put aside and attention turned to the implications, both personal and professional, of these historic events. Amidst fears for co-workers possibly involved in the World Trade Center (WTC) crisis and a general outpouring of sympathy, risk managers tried to understand the disaster, and perhaps even take some lessons.

Feature

Stock Insurers: Setting the Pace

July 1, 2001 Vikki Spencer

With the recent introduction of new insurance-related stocks on the American market, and the movement of Canadian stock companies onto exchanges south of the border, it would seem insurers are playing in the equities market spotlight. Speculation that the downfall of the technology sector could spur a return to more tried and true performers is coupled with recognition that hardening rates will bring a return to confidence in the insurance sector. But who among the Canadian players will come out on top? CU asks analysts and public company management what the key to stock market success will be.

Feature

Reinsurance Strategies

December 1, 2000 Vikki Spencer

Inadequate rates, worldwide catastrophic losses and consolidation in the primary market created dismal results for reinsurers in the past few years. But could there be a light on the horizon? CU’s survey of Canadian reinsurance CEOs suggests change is in the wind, with rates set to rise this year and companies charting a course for profitability in the future.

Bill Star
Feature

Kingsway acquires AXA fleet book

June 1, 2000 by Canadian Underwriter

Insurer AXA Canada has sold its book of commercial trucking business, consisting of ten vehicles and more, to specialty insurer Kingsway Financial Services Inc. The book is valued at about $23 million in annual premium. As part of the arrangement,