Industry
Co-operators General Insurance Co. reports a boost in income for the last quarter of 2000, with after-tax net income almost doubling over the same period in 1999, from $8.4 million to $17.3 million. At the same time, the company’s combined ratio dropped from 105.3% for Q4 1999 to 101.8%. Part of this is attributable to […]
April 30, 2001
1 min read
Danny Craig, president-elect of the Insurance Brokers Association of Ontario (IBAO) told brokers recently that the IBAO has been hard at work promoting its senior designation program, which will now be run through the Insurance Brokers Association of Canada (IBAC). Craig also commented on the development of the Center for Studies of Insurance Operations’ (CSIO) […]
The recent Insurance Brokers Association of Ontario (IBAO) annual general meeting and mid-year conference drew focus to several political, technological, regulatory and pricing developments taking hold within the province's property and casualty insurance industry. Among the issues discussed included a consensus that insurer premium increases planned for this year will have to be supported by the brokerage community.
3 min read
Dear Editor, I read with interest your article on e-insurance in the March edition of Canadian Underwriter. Canada Life is the majority owner of Kanetix, with remaining ownership held by its employees. The Kanetix website provides information on Canada Life’s ownership which is much more transparent than current market practice in this area. For example, […]
107.8 110.4 4.9 114.9 116.4 12.5 107.8 110.4 4.9 109.8 109.4 6.6 114.9 116.4 12.5 107.8 110.4 4.9 105.4 110.3 3.1 109.8 109.4 6.6 114.9 116.4 12.5 107.8 110.4 4.9 Combined Combined Written Ratio Ratio Premium (%) 105.4 110.3 3.1 109.8 109.4 6.6 114.9 116.4 12.5 107.8 110.4 4.9 1999 2000 Change in Net Combined […]
2 min read
Despite reports that it would be “business as usual” following ING’s takeover of Equisure Financial Network last September, the board and CEO of the broker network have packed their bags. Equisure chair and CEO George Hutchison announced his intention to resign, as well as directors Neil Forth, Hector Lavigne, Lynne Hutchison, Douglas MacDonald, Hubert Mockler, […]
The business environment facing Canada’s property and casualty insurers over the year ahead is going to be tough, with the industry having closed the 2000 financial year with its first quarterly net loss since the 1970s and a dismal 6.2% return on equity (ROE), says Paul Kovacs, chief economist of the Insurance Bureau of Canada […]
March 31, 2001
Non-standard auto insurer Kingsway Financial Services Inc. (TSE: KFS) more than doubled net income for the 2000 financial year to $27.5 million (1999: $13.6 million). This translated to earnings of 81 a share (1999: 38), with the company posting a 10.7% return on equity for year. Strong business growth was mostly responsible for the earnings […]
The new federal privacy legislation, while not affecting the insurance industry until 2004, needs to be addressed now, representatives of the Insurance Information Centre of Canada (IICC) and the Insurance Bureau of Canada (IBC) told guests at a “Privacy and Security” breakfast, held recently in Toronto. Chief among the concerns in the new legislation is […]
It was a packed house recently for the Toronto Insurance Women’s Association (TIWA) Wine & Cheese Party, held at the Metro Toronto Convention Centre. About 2,000 attendees were present for the event, which is a chance to renew acquaintances, sample wine and vie for several door prizes. And it was all thanks to the efforts […]
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