MFX, a provider of technology and IT outsourcing solutions, has announced the Western Life Assurance Company in Alberta is using its WriteNow Web-based policy-writing platform for Western Life’s suite of ‘@pprove’ online, term life products.MFX developed WriteNow to provide agents and brokers with the ability to qualify, rate, quote, bind and deliver policy documents in […]
By Canadian Underwriter | March 20, 2006
2 min read
AMAC Consultants Inc. is expanding its Ontario operations with the appointment of Peter R. Morris as vice-president. Morris will lead the firm’s operations in Toronto, ON. Prior to joining AMAC, Morris was the branch director, Ontario division, CGI Insurance Business Services. Morris has held executive positions with the Society of Fellows in both Calgary and […]
By Canadian Underwriter | March 20, 2006
2 min read
A group of 26 U. S. property-casualty reinsurers wrote $25.3 billion of net premiums during the 12 months ended Dec. 31, 2005, according to a survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA). Among the companies surveyed, the RAA survey shows the leading companies in terms of 2005 net […]
By Canadian Underwriter | March 17, 2006
1 min read
Marshall & Swift / Boeckh and Cornerstone Appraisal Services recently partnered to form a “strategic business alliance.” This partnership is intended to utilize the strengths of both organizations to deliver high value inspection and valuation services to the property and casualty industry. A provider of high value insurance inspections and inspection technology for insurance carriers, […]
By Canadian Underwriter | March 14, 2006
1 min read
Shortly after Royal Bank CEO Gordon Nixon decried the “absurdity” of Canada’s Bank Act, referring to the act’s provisions that prevent banks from retailing insurance within their local branches, National Bank of Canada president and CEO Ral Raymond told his shareholders the act’s restrictions are “anachronistic and unjustified.” “The regulatory framework imposes serious limits on […]
By Canadian Underwriter | March 9, 2006
2 min read
Tony Boobier has been appointed to head Marshall & Swift / Boeckh’s newly created London-based international solutions division. Boobier will develop the use of MSB’s claims and underwriting systems within the U.K. and European insurance and reinsurance arenas. Initially, Boobier will focus on companies in the U.K. with books of property insurance business in the […]
By Canadian Underwriter | March 8, 2006
2 min read
ING Canada Inc. (TSX: IIC.LV) reported a net income of Cdn$196.9 million for the quarter ended Dec. 31, 2005 – up 13.7% from Cdn$173.1 million in the same period of the preceding year. Revenues for the fourth quarter also increased to Cdn$1.1 billion – a 10.6% increase from Cdn$1 billion in the corresponding quarter of […]
February 28, 2006
1 min read
Aon Co. (NYSE: AOC) has reported a net income of US$224 million during the fourth quarter of 2005, compared to US$81 million over the same period in 2004. Fourth-quarter 2005 net income from continuing operations increased 97% – up to US$144 million, compared to US$73 million a year ago. The company’s 2005 net income of […]
February 28, 2006
2 min read
Don Ungaro, past president of the Insurance Brokers Association of B.C., passed away at the age of 46 on Feb. 6, 2006 in a tragic swimming incident while on vacation in the Dominican Republic. Ungaro, an accomplished member of the industry, had recently sold his business – Ungaro and Sons Insurance Services, which he owned […]
February 28, 2006
3 min read
AXA SA is reporting a growth in underlying earnings of up to 22% in its global property and casualty division, as well as a 24% increase in its overall underlying earnings, for the 2005 fiscal year.”Property and casualty revenues were up 3%, to EUR18.9 billion (CDN$25.6 billion), and the combined ratio improved by 0.8 points […]
By Canadian Underwriter | February 28, 2006
1 min read