Industry
GPS-maker TomTom has announced that is will now calculate routes based on actual weather conditions, warning drivers of severe weather’s impact on traffic. TomTom Traffic will now warns drivers about upcoming slow moving traffic because of heavy rain or snow. The Dutch company said it is the first to use real-time weather information to calculate routes […]
By Canadian Underwriter | November 3, 2014
1 min read
Commercial insurer CNA Financial Corp. released Monday its financial results for the third quarter, reporting a 2.1-point deterioration in its combined ratio, a 4% drop in net written premiums and a 4.1-point improvement in the combined ratio of CNA Specialty. Chicago-based CNA reported net written premiums of $1.56 billion during the three months ending Sept. […]
2 min read
The Co-operators General Insurance Company announced Monday that its wholly-owned subsidiary has purchased all of the issued and outstanding shares of a company that operates Drost Insurance Brokerage for an undisclosed amount. The Bath, N.B. brokerage’s portfolio includes approximately $2 million in premiums from home, auto, farm and commercial insurance policies, according to the Co-operators. […]
TORONTO – Fairfax Financial Holdings Ltd. (TSX:FFH) said Thursday that gains on its investment portfolio moved the property and casualty insurance and reinsurance holding company back into profitable territory in the third quarter compared with the same period a year earlier. The Toronto-based company, which reports in U.S. dollars, said net earnings attributable to shareholders […]
By The Canadian Press | October 31, 2014
Fitch Ratings has published a new dashboard report showing changes in the usage of reinsurance and credit exposure to reinsurance recoverables among U.S. property and casualty insurers. Available to subscribers of its reports, Fitch said the dashboard includes a review of the insurers that are the most prominent buyers of reinsurance, and the reinsurers with the […]
By Canadian Underwriter | October 31, 2014
Nearly half of insurance professionals recently surveyed said either credit card payment processors or national retail chains are the “most hazardous” classes of business to insure for cyber risk, but only 4% said regulatory or Payment Card Industry compliance was the most important information to consider when underwriting that risk, according to a recent report […]
Aon has reported net income attributable to shareholders of $309 million for the quarter ended Sept. 30, up from $256 million in the same period of 2013. Total revenue in the quarter also saw 3% organic growth year-over-year to $2.9 billion. For the first nine months of the year, net income attributable to shareholders jumped […]
AXIS Capital Holdings Ltd. has reported a net income of $279 million for the three months ended Sept. 30, up from $137 million in the same period last year. Net income available to common shareholders for the first nine months of the year totaled $607 million, up from $512 million in the same period of […]
By Canadian Underwriter | October 30, 2014
Allied World North America has expanded its professional lines business by launching a new mergers and acquisitions (M&A) line for the Canadian market. Kent Paisley, senior vice president and head of specialty lines in Canada, will be the point of contact for the Canadian M&A business. Paisley is based in Allied World’s Toronto office. The initial product […]
Arch Capital Group Ltd. has reported a net income (available to common shareholders) of $223.2 million for the third quarter ended Sept. 30, up from $109.3 million in the same period of 2013. The company also reported after-tax operating income available to common shareholders of $142.1 million for the quarter, compared with $149.2 million for […]
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