Industry
The Centre for the Study of Financial Innovation (CSFI) recently released its 2014 “Banking Banana Skins” report, in which Canadian respondents expressed a heightened concern about technology risk, social media, cybercrime and interest rates and less concern than two years ago about liquidity and availability of capital. London-based CSFI, which released the Banking Banana Skins […]
By Canadian Underwriter | May 9, 2014
4 min read
An increase in underwriting income has contributed to EGI Financial Holdings Inc. posting net operating income of $3.7 million in 2014 Q1 compared to nil for the same quarter a year ago. The increase was due to a rise in underwriting income to $532,000 in 2014 Q1 compared to an underwriting loss of $3.5 million […]
3 min read
Only one in three companies surveyed by Ponemon Institute LLC have a cyber insurance policy to manage the risk of data breaches, but the average cost per compromised record was US$145, with some respondents reporting more than 100,000 compromised records. Traverse City-based Ponemon Institute announced Monday its ninth annual Cost of Data Breach Study, sponsored by […]
By Canadian Underwriter | May 8, 2014
Industrial Alliance Insurance and Financial Services Inc. has posted net income attributed to common shareholders of $82.9 million in 2014 Q1, up 4% from $79.7 million in the first quarter of 2013. The net income attributed to shareholders was also up when comparing the first quarters of 2014 and 2013 (at $90.0 million and $88.4 […]
2 min read
Allianz Group has reported the highest quarterly revenues in the company’s history for the first three months of the year, at 34 billion euros, up from 32 billion euros in Q1 of 2013. Net income attributable to shareholders was 1.64 billion euros, down from 1.71 billion euros for the first quarter of 2013. The company’s […]
By Canadian Underwriter | May 7, 2014
1 min read
NEW YORK – Add hackers to the long list of things that give CEOs insomnia. Target’s chief executive, Gregg Steinhafel, is the first boss of a major corporation to lose his job over a theft of customer data. His exit from the helm of the nation’s third-largest retailer on Monday shows that – in addition […]
Canadians are generally underestimating certain risks related to their personal insurance, and many would rather take doing boring or unpleasant tasks over thinking about their coverage, notes a new survey from TD Insurance. In its commissioned online survey of 1,000 Canadians 18 and older, 62% said they would rather shovel snow, spend a Saturday doing […]
By Canadian Underwriter | May 6, 2014
One in five Canadian auto insurance customers taking part in the J.D. Power 2014 Canadian Auto Insurance Satisfaction Study have shopped for a new insurer in the past 12 months, but just 9% have made the switch. The study measures insurance customer experiences with their primary auto insurer in Canada. Customer satisfaction is measured across […]
SCOR has reported a net income of 135 million euros for the first three months of 2014, up 21.6% over the prior year quarter’s result of 111 million euros. Gross written premiums for the first quarter totaled 2.669 billion euros, which SCOR said was driven by strong renewals in its global property and casualty business. […]
Independent Broker Resources Inc. (IBRI), a subsidiary of the Insurance Brokers Association of Ontario, will introduce two telematics offerings to the industry, IBAO CEO Randy Carroll said in an update issued Tuesday. IBRI will be offering a telematics solutions from Ingenie, a United Kingdom-based telematics broker that is expanding into the Canadian marketplace. It will […]
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