New research from advisory services firm TowerGroup says the time is right for U.S. property and casualty claims insurers to engage in a more concerted, holistic effort to exploit mobile technology in the claims process.Karen Pauli is a senior analyst in the TowerGroup Insurance research practice and author of the research. She notes that although […]
By Canadian Underwriter | April 4, 2007
2 min read
KRG Insurance Brokers Inc. has purchased the property/casualty non-transportation business from Safety Insurance Service (1959) Ltd.Effective May 1, 2007, this acquisition reinforces KRGs desire to expand its commercial client base, while drawing upon our expertise in handling commercial and VIP personal asset accounts, Paul Martin, president and chief operating officer of KRG, said in a […]
By Canadian Underwriter | April 4, 2007
1 min read
Canadian property and casualty direct premiums in 2006 “were essentially flat, growing only an anemic 1%,” according to a report by MSA Research Inc. MSA Research noted that in 2006, direct premiums written in Canada totalled Cdn$30.1 billion, as opposed to the 2005 total of Cdn$29.8 billion. Net premiums written amounted to Cdn$27.2 billion in […]
March 31, 2007
1 min read
Royal & SunAlliance Canada reported a strong performance in 2006, with premium growth of 9% and a combined operating ratio of 92%. Royal & SunAlliance Canada reported an underwriting profit of Cdn$100 million, which is 75% above that of the previous year. Net written premiums were up 9%, to Cdn$1.4 billion, with Cdn$262 million in […]
March 31, 2007
1 min read
Canadian property and casualty direct premiums in 2006 were essentially flat, growing only an anemic 1%, according to a report on the preliminary year-end results posted online by MSA Research Inc.MSA Research noted that overall, in 2006, direct premiums written in Canada totalled Cdn$30.1 billion, as opposed to the 2005 total of Cdn$29.8 billion. Net […]
By Canadian Underwriter | March 15, 2007
1 min read
Royal & SunAlliance Canada reported a strong performance in 2006, with premium growth of 9% and a combined operating ratio of 92%.Royal & SunAlliance Canada reported an underwriting profit of Cdn$100 million, which is 75% above that of the previous year. Net written premiums were up 9%, to Cdn$1.4 billion, with Cdn$262 million in new […]
By Canadian Underwriter | March 8, 2007
1 min read
ING Canada has reported a profit of Cdn$109.4 million for 2006 Q4, down from Cdn$196.9 million reported in 2005 Q4. The drop in net income was driven by lower underwriting income, lower realized investment gains and higher income taxes, the company noted in a press release. Net income for the full year 2006 was Cdn$658.1 […]
February 28, 2007
1 min read
Co-operators General Insur-ance Company reported consolidated after-tax net income of Cnd$19 million in 2006 Q4, compared to its Cdn$39 million profit in 2005 Q4. Gross written premium in 2006 Q4 increased 6.7%, to Cnd$519 million, compared to Cdn$486 million in the fourth quarter of 2005. The combined ratio of claims and operating expenses was 99.0% […]
February 28, 2007
1 min read
AXA reported a profit of EUR4 billion [approximately Cdn$6.1 billion] throughout 2006, an increase of 20% over 2005. Property and casualty earnings increased 7% to EUR1.5 billion [approximately Cdn$2.3 million], driven by a 4% increase in revenues together with a 0.8 point improvement of the combined ratio, states an AXA news release. “Through organic growth […]
February 28, 2007
1 min read
AXA reported a profit of 4 billion [approximately Cdn$6.1 billion] throughout 2006, an increase of 20% over 2005. Property and casualty earnings increased 7% to 1.5 billion [approximately Cdn$2.3 million], driven by a 4% increase in revenues together with a 0.8 point improvement of the combined ratio, states an AXA news release.Through organic growth and […]
By Canadian Underwriter | February 23, 2007
1 min read