Risk
HOLDING STATE MONOPOLIES ACCOUNTABLE
January 31, 2001
8 min read
Industry
The final results released by StatsCan on the performance of the Canadian property and casualty insurance industry through to the end of the second quarter of last year removes any doubt that the market has entered into a broad price hardening, says Ted Belton in the latest issue of the Belton Report. “There is now […]
2 min read
Claims
Listed claims adjusting group Lindsey Morden Group Inc. (TSE:LM) produced a modest 1 a share profit for the third quarter of 2000, but for the full first three quarters of the year delivered its worst return of 98 a share loss. The group’s revenue for the third quarter fell to $92 million from the previous […]
CGNU’s Canadian holding company CGU has disposed of its equity stakes in Commercial Union Life and Norwich Union for a total of $297 million. Commercial Union was sold to Manulife Financial for $138 million and Norwich Union to a subsidiary of the American International Group (AIG) for $159 million. Both deals are subject to regulatory […]
Like it or not, Winston Morris, chair of Canadian Council of Insurance Regulators (CCIR) and assistant deputy minister of commercial and corporate affairs in Newfoundland and Labrador, has found his name in the news quite a bit lately. Public hearings on the province’s Facility Association (FA) have become a sparring ground for insurers, brokers and […]
6 min read
The potential of the Internet has been bandied about for the past several years and finally insurers seem to be taking heed of the message. In an effort to reduce escalating expense ratios, insurers are putting the Internet to work. But the shape of things to come may be a surprise to many who saw […]
10 min read
As insurers dip their toes into the vast ocean of e-commerce, regulators are donning their lifeguard gear in an attempt to protect consumers and the industry itself from the potential dangers lurking there. At home and abroad, the as yet unknown hazards of online sales are being examined and framework rules put in place. Issues […]
Once again, CU’s annual focus on technological developments within the Canadian property and casualty insurance industry has come about…and guess what, after trying to figure out the various “half steps forward”, “six steps to the side”, minus a “quarter degree turn here” and a final “twist and turn there”, I still cannot decide whether any […]
4 min read
Three of the public-traded broker consolidator networks, Equisure Financial Network (TSE:EFN), Hi-Alta Capital Inc. (TSE:HIA), and Vector Intermediaries Inc. (VSE:VTE), have reported stronger earnings and revenue growth for the third quarter of 2000. Equisure, which also announced the successful closure of the bid by financial services group ING to acquire all of the networks outstanding […]
U.S. property and casualty insurers saw their net income for the first nine months of last year fall by 5% to US$16.5 billion compared with US$17.4 billion reported for the same period in 1999, according to the Insurance Services Office INC. (ISO) and the National Association of Independent Insurers (NAII). The industry’s earnings plunge – […]
3 min read
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