Claims
Swiss Re has reported a net income of CHF4.2 billion (about Cdn$3.96 billion) for 2007, down 9% from 2006, but nevertheless the second-best result in the company’s history.”Driven by an outstanding performance across our key businesses, we delivered the second-best result in Swiss Re’s 144-year-history,” Swiss Re CEO Jacques Aigrain said in a press release. […]
By Canadian Underwriter | February 29, 2008
1 min read
American International Group, Inc. (AIG) reported loss of US$5.3 billion for 2007 Q4, and a net income of US$6.2 billion for the full year 2007, representing a 55.9% decrease over the prior year.In 2006 Q4, AIG reported a profit of US$3.4 billion. “The 2007 other-than-temporary impairment charges resulted primarily from the significant, rapid declines in […]
Risk Management Solutions (RMS) estimates insured losses from the earthquake that shook the United Kingdom this week are up to 30 million (approx. Cdn$58.3 million), a sum reflecting the vulnerability of buildings in the area.The earthquake that struck Market Rasen in Lincolnshire is likely to have caused between 15 million and 30 million (approx. Cdn$29.1 […]
By Canadian Underwriter | February 28, 2008
The Insurance Brokers Association of Ontario (IBAO) has announced it is renewing its sponsorship agreement with professional golfer Richard Scott from Kingsville, Ont. “Richard has represented us well and we’re proud to be associated with his success,” Randy Carroll, CEO of IBAO, said in a release. “In our first year in sponsoring him last year, […]
By Canadian Underwriter | February 25, 2008
2 min read
FM Global reported a 26% growth in net income (to US$928 million) in 2007, the largest such growth in the company’s history.The company also posted a combined ratio of 73.4%, which was better than forecast, the company reported, “due to the absence of large insured natural disaster losses and much better than composite projections for […]
By Canadian Underwriter | February 22, 2008
Given the potential for US$2.5 billion in insured losses for wildfires in California alone, last year’s wildfire season ranks as one of the costliest wildfire seasons in recent history, according to a joint report by Risk Management Solutions (RMS) and ImageCat, Inc.RMS’ analysis shows that in the past 10 years of Californian wildfire history, close […]
By Canadian Underwriter | February 21, 2008
As preparations for the next hurricane season proceed apace, the insurance industry continues to look for ways that capital markets can be used as the basis for building up capital this time, the industry is looking at event-linked insurance futures, according to A.M. Best.Insurance Futures Exchange Services Ltd (IFEX), a member of the Climate Exchange […]
By Canadian Underwriter | February 11, 2008
The crisis in the subprime mortgage market has had little impact on availability, cost or policy conditions of directors’ and officers’ liability (D&O) and errors and omissions (E&O) policies, according to research by Advisen Ltd.Based on a survey of 110 insurance buyers, more than 90% of commercial banks, investment banks, mortgage lenders, real estate investment […]
By Canadian Underwriter | February 6, 2008
North American and Bermuda reinsurers have authorized substantially more capital for the insurance market in 2008 than in 2007, meaning the current soft market could continue well into 2010, Guy Carpenter & Company LLC predicts.Kevin Stokes, the global leader of GuyCarp’s specialty property initiative, presented industry statistics for the U.S. property and casualty market on […]
The Institute for Catastrophic Loss Reduction (ICLR) is hosting the 4th International Symposium on Flood Defence (ISFD4) on May 6-8 in Toronto at the Westin Harbour Castle.The theme is the management of flood risk, reliability and vulnerability. As recent flood disasters like Hurricane Katrina and the 2004 Boxing Day tsunami in Asia made abundantly clear, […]
By Canadian Underwriter | February 5, 2008
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.
