Industry
Canadian property and casualty insurance company EGI Financial has reported a net income of $13.9 million for the third quarter of the year, up from a net loss of $0.2 million for the same period in 2011. Net operating income for the three months ended Sept. 30 was $2.6 million, compared to $2.3 million for […]
By Canadian Underwriter | November 9, 2012
2 min read
A strong majority of Canadian drivers admit to driving behaviour that could be deemed as road rage, according to a new survey from insurance comparison website Kanetix.ca. The poll, completed by Leger Marketing, suggests that 79% of Canadians admit to aggressive behaviour such as using profanity, yelling or following other vehicles too closely. Speeding was […]
By Canadian Underwriter | November 8, 2012
The Insurance Bureau of Canada has partnered with the Ontario Association of Crime Stoppers as another measure to fight insurance fraud in the province. Anonymous tips sent to Crime Stoppers will now be sent both to police and to IBC’s Investigative Services department. The idea is to better streamline the fraud reporting process. “Anyone who […]
1 min read
Swiss Re announced Nov. 8 its financial results for the third quarter, reporting net income of $1.03 billion from property and casualty reinsurance, up from $731 million during the same period in 2011. All figures are in U.S. currency. The Zurich-based firm said P&C premiums increased 15%, from $2.9 billion in 2011 to $3.3 billion […]
RSA Group’s net written premium for the first nine months of the year in Canada was up 6% to £1.2 billion, mainly from good performance in personal lines, while the company overall reached £6.2 billion. Much of the growth is attributed to emerging markets, where RSA saw growth of 15%, with its net written premium […]
Aviva Plc released Nov. 8 an interim management statement, reporting a 5% year-over-year increase in general insurance sales in Canada for the first nine months of 2012, as it continues to interview candidates for the role of chief executive officer. The London-based firm reported total net premiums written for the general insurance and health categories […]
Auto repair company CARSTAR has appointed a new regional manager for Alberta. In his new role, Darren Lumsden will head up business development efforts in the provinces and will act as the first point of contact for the company’s Alberta-based franchise partners. Lumsden will work alongside Lloyd Wheeler, the company’s regional director for western Canada, […]
Global reinsurer Munich Re has posted a consolidated profit of €1.1 billion for the third quarter of 2012, a rise from the €290 million it reported for the same period last year. The company has also raised its profit forecast for the year to about €3 billion. On Nov. 7, €1 was equal to about […]
By Canadian Underwriter | November 7, 2012
Western Financial Group has partnered with Applied Systems to integrate more than 120 network locations throughout Canada’s western provinces and position the company for continued growth. Western Financial Group, owner of the largest property and casualty distribution network in western Canada, will use the software provider’s Epic broker management system (BMS) to integrate the network […]
The Swiss Re Group announced that on Nov. 5 it closed the private placement of US$200 million worth of bonds, intended to cover risks including hurricanes in the North Atlantic. The bonds were placed through SPRV Mythen Re Ltd. Swiss Re said earlier that the Mythen cat bond program, named after the Mythenquai in Zurich […]
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