Industry
Intact Financial Corp. has reported a third quarter net income of $96 million, down from $101 million in the same period last year. Net income for the first nine months ended Sept. 30 was $406 million compared to $381 million for the first nine months of 2011. The company’s net operating income this quarter rose […]
By Canadian Underwriter | November 7, 2012
1 min read
Insurer ACE Canada, the Canadian-based operation of ACE Group, has appointed Andre Vukadin as assistant vice president and branch manager for Quebec and Eastern Canada. In his new role, Vukadin will be responsible for growing the commercial and national risk segment for the two regional markets and creating the business development strategy for the areas. […]
Most property and casualty insurance claims executives responding to a recent survey say they are not satisfied with their organization’s capability of supporting for mobile computing devices but only a minority of respondents said their organizations have budgeted for increases in spending in this area. Aite Group LLC of Boston conducted an online survey in […]
By Canadian Underwriter | November 6, 2012
2 min read
The Insurance Bureau of Canada has thrown its support behind Financial Literacy Month, which runs during November, offering resources to help consumers better understand personal, home and auto insurance. IBC is supporting the event with “community events, partnerships with key stakeholders, and public outreach through traditional and social media channels,” it stated in a release. […]
Dublin-based global insurer XL Group has reported a net income of $171.9 million for the third quarter of the year, up significantly from the same period in 2011. The company had reported a net income of just over $42 million for the three months ending Sept. 30, 2011. Net premiums written for its P&C business […]
The global reinsurance industry is in a strong position to take on losses from “Superstorm” Sandy, which recently hit the eastern United States, Fitch Ratings said Monday. A “solid” capital position, combined with few catastrophe losses throughout the year has left the reinsurance industry well-positioned to weather losses from Sandy, Fitch said in a statement. […]
By Canadian Underwriter | November 5, 2012
Two-thirds of small businesses surveyed reported they spend more time on social media, such as Facebook, Twitter and LinkedIn, they they did a year ago, but a third of executives in charge of the firms said they would rather focus their time on growing the business. San Francisco-based Vertical Response Inc., whose services include social […]
Global reinsurer SCOR placed a new catastrophe bond on Nov. 1, the company has announced. Atlas Reinsurance VII Limited, an Irish reinsurance vehicle, will provide the company US$60 million against hurricanes and earthquakes in the United States, and 130 million euros against European windstorms, for a risk period extending from Jan. 1, 2013 to Dec. […]
Crawford and Company announced Nov. 5 its financial results for the period ending Sept. 30, reporting a company-wide increase in revenues and profits, a 43% increase in legal settlement administration revenue and a drop in revenue for the Americas region. Total revenues (after reimbursements) for the third quarter were $324.2 million, up 7% from $308.2 […]
The Insurance Corporation of British Columbia, a Crown corporation that provides auto insurance in the province, has cut about 250 positions, mainly in management. Five members of its executive have left the company, and two executive positions reporting to the CEO have been eliminated, ICBC announced. Its executive team now includes: “These reductions go beyond […]
By Canadian Underwriter | November 2, 2012
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
