Risk

Former RenRe execs charged with finite “sham”

The US Securities and Exchange Commission has filed securities fraud charges against three former RenaissanceRe Holdings Ltd. Executives regarding an alleged finite reinsurance “sham” used to “smooth earnings.”Charges of securities fraud were laid in a Manhattan federal court against RenaissanceRe’s former CEO James N. Stanard, its former controller Martin J. Merritt and former senior executive […]

By Canadian Underwriter | September 27, 2006

2 min read

Risk

What’s New: In brief (September 27, 2006)

Hedge fund and private equity investors continue to provide capital to support catastrophe risks for insurance and reinsurance companies, according to an article published by Standard & Poor’s Ratings Services. The article, entitled “Hedge Funds And Insurers: A Healthy But Tricky Relationship,” says the form of support has evolved from straight investments in new start-up […]

By Canadian Underwriter | September 27, 2006

1 min read

Risk

IUA launches Web site to prepare for new EU capital regime

The International Underwriting Association (IUA) has launched a new Web site to discuss Solvency II, the planned new European solvency regime for insurers to be established in 2010.The new Web site outlines the background to Solvency II, including a summary of previous European Union (E.U.) directives governing insurer solvency rules since the 1970s. It also […]

By Canadian Underwriter | September 26, 2006

2 min read

Risk

Integro and Indemnis partner up

Integro Insurance Brokers has implemented a new business venture with Indemnis Trade Risk Management, which will allow the broker to offer new trade risk management programs to its North American clients. “We are enthusiastic about our firm’s collaboration with Indemnis relative to large and complex trade risks,” said Roger Egan, chief executive officer of Integro […]

By Canadian Underwriter | September 25, 2006

1 min read

Munich Re implements new IT platform

Munich Re has replaced its legacy systems with a new IT platform, Gloria (Global Reinsurance Application) platform. This new platform is intended to standardize business processes and the handling of reinsurance business. Munich Re says the new IT platform should also enhance as well as the quality and efficiency of activities such as underwriting, claims […]

1 min read

Camillion launches new system for product development

Camilion Solutions, a private company based in Toronto, New York and California which provides product management, underwriting and online sales solutions for the insurance industry has released ProductAuthority(TM) V5.1 the company’s flagship enterprise product management solution.”ProductAuthority V5.1 now incorporates the foundational standards – WSDL, SOAP and UDDI to make the solution fully Web Services compliant, […]

2 min read

Ottawa’s Kim Hunton wins risk management award

Kim Hunton of Ottawa is the 2006 recipient of RIMS Canada’s Donald M. Stuart Award, established in 1979 to recognize outstanding contributions to the field of risk and insurance management in Canada.Hunton received the award at a special awards presentation at the 2006 RIMS Canada Conference in Calgary. In a speech, Hunton said she was […]

2 min read

2006 RIMS Canada Conference grows

Once again the bar measuring the success of the annual RIMS Canada Conference has been raised with a record registration number of 699, secretary of the RIMS Canada Council Bruce Tainsh told the audience at the 2006 RIMS Canada Conference in Calgary.This success exemplifies the early success of RIMS Canada Council’s (RCC)’s new ten-year strategic […]

1 min read

Tao Re A+ financial strength rating affirmed

A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” of The Toa Reinsurance Company, Ltd.The ratings agency says Tao’s ratings, which both have a negative outlook, reflect the reinsurers “strengthened capitalization, solid presence in the Japanese market and sound asset portfolio. “”Toa Re has a […]

1 min read

What’s New: In Brief (September 18, 2006)

WICC (Women In Insurance Cancer Crusade) Ontario Chapter is hosting its 9th Annual “Breakfast for Breast Cancer” on Nov. 1, 2006.The breakfast will be held at the Arcadian Court, located on 401 Bay Street in Toronto.The guest speaker will be Susan Minns, a humourist and motivational speaker. Minns, who has Multiple Sclerosis and survived cancer, […]

2 min read