Fred Gorbet is an authority on Canadian financial services and financial services policy. He is the co-director of the Financial Services Program at York University's Schulich School of Business. He has served as Canada's deputy finance minister and as the executive director to the MacKay Task Force on the Future of the Canadian Financial Services Sector.

February 28, 2006

7 min read

Risk

Fitch boosts FM Global’s rating

Fitch Ratings upgraded FM Global’s financial strength in February from ‘AA-‘ to ‘AA’ (a “Very Strong” rating). Heightened confidence in FM Global’s underwriting performance, surplus growth, and the Company’s engineering expertise and ability to mitigate and absorb volatility prompted Fitch to assign the commercial and industrial property insurer a “Stable” rating outlook. According to Fitch, […]

February 28, 2006

1 min read

Risk

Zurich Financial Services increases 2005 profits by 30%

Zurich Financial Services’ profits increased 30% in 2005, according to the Switzerland-based insurer. “This profit increase is a result of a small reserve the company set aside and from gains it achieved in its life business,” the company announced in a release. Overall, Zurich reported a 2005 net income of US$3.2 billion. This compares to […]

February 28, 2006

1 min read

Risk

XN Risk offers new law liability policy

XN Holdings, parent company of XN Risk Insurance Services (Canada) Inc. recently launched a Law Firm Management Liability Policy designed address a wide range of liabilities law firms may confront from customers, suppliers, job applicants and employees, unrelated to the provision of legal services. Policy limits are routinely available up to Cdn$5 million in the […]

By Canadian Underwriter | February 23, 2006

2 min read

Risk

FM Global reports strong 2005 financial results

FM Global’s 2005 financial results state that the commercial and industrial property insurer has realized a 14% increase in net income to US$635 million, representing the Copmany’s fourth consecutive year of strong results.In addition, FM Global;s policyholder surplus grew 18.8% from 2004, to reach US$4.4 billion. The client retention rate for 2005 was 92%, one […]

By Canadian Underwriter | February 22, 2006

2 min read

Risk

Manitoba immobilizer program a qualified success

Manitoba vehicle owners are responding well to an initiative promoting the purchase of after-market vehicle immobilizers but the people whose vehicles are most at risk are not the ones buying the immobilizers, according to Manitoba Public Insurance.”In January alone, we saw a surge of 1,500 new appointments for immobilizer installations, but less than a quarter […]

By Canadian Underwriter | February 22, 2006

2 min read

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