Risk

Better business models required for a positive 2006 (December 15, 2005)

The primary non-life sector is expected to attain positive results in 2006 with primary premiums growing above inflation and specifically, significant increases arising in classes impacted by 2005’s hurricane season, Swiss Re reported at its recent annual review and outlook for the insurance industry. In order to maintain positive results in light of strong competitive […]

By Canadian Underwriter | December 15, 2005

2 min read

Risk

Montpelier Re announces quarterly dividend, ratings affirmed

Montpelier Re Holdings Ltd. (NYSE:MRH) recently implemented actions deemed necessary to receive an affirmative rating from A.M. Best Company. In concurrence with these actions, Montpelier has declared a quarterly dividend of $0.075 per Common Share, which is payable on January 13, 2006 to shareholders of record on December 31, 2005. “Reducing our ordinary dividend will […]

By Canadian Underwriter | December 13, 2005

1 min read

Risk

Personal insurance companies remain stable 2006 (December 12, 2005)

The personal lines sector is expected to remain stable for 2006 despite the losses stemming from 2005’s aggressively violent hurricane season, according to a new report from Standard & Poor’s.However, the report titled, “2006 Outlook: Personal Lines Insurance Sector Remains Stable Despite Hurricane Losses,” also states that it is likely that the profitability of personal […]

By Canadian Underwriter | December 12, 2005

1 min read

Risk

Hub makes ‘impact’ with acquisition

Hub International Limited (TSX:HBG) has acquired the assets of Impact Insurance Services and the consolidation of those operations with Hub International Midwest’s financial institutions business. As a direct result of this transaction, Kirby Jordan and Scott Eckerty, principals of Impact Insurance, will join Hub International Midwest (HUB Midwest) as managers of the expanded business unit. […]

By Canadian Underwriter | December 9, 2005

1 min read

Alberta insurer receives ratings upgrade

A.M. Best Co. recently upgraded the financial strength rating of Alberta-based Peace Hills General Insurance Company from B (Fair) to B+ (Very Good), with a stable rating. According to A.M. Best, the rating is indicative of Peace Hills’ capitalization and strong balance sheet, profitable operating performance, sound liquidity and conservative reserve position. However, partially offsetting […]

2 min read

SCOR buys Alea Europe’s 2006 renewal rights

SCOR has agreed to terms with the Alea Group regarding the acquisition of the 2006 renewal rights relating to the Alea Europe property and casualty treaty portfolio.The heads of terms include the payment in 2006 of a 9.5 % commission on gross written premiums on Alea Europe’s business renewed by SCOR in 2006. The two […]

2 min read

Provincial ‘opt-in’ plan for securities regulator proposed

A new report published by a panel headed by former Imasco Ltd. chairman Purdy Crawford recommends that Canadian provinces that want to form a national securities regulator should create one allowing provinces that aren’t in favour to opt out.Provinces, the report says, forming a national agency will be able to reduce costs and improve enforcement. […]

2 min read

Alea group downgraded, S&P’s

Standard & Poor’s Corp. has downgraded its long-term counterparty credit and insurer financial strength ratings on the Alea Group (Alea) to ‘BBB’ from ‘BBB+’ in response to Alea’s recent announcement that Alea London Ltd. has ceased to write business and that it will sell its renewal rights for part of Alea London’s program to Canopius […]

1 min read

Willis continues growth in Vancouver

Continuing to strategic move to strengthen its presence in key North American markets, Willis Group Holdings (NYSE: WSH) recently expanded its Canadian operations into Vancouver, BC. Willis recently welcomed Maurice Gesner, Sandie Morton, and Chris Zuberec to its growing Vancouver practice.Boasting over 29 years of claims experience specializing in Marine losses, Gesner joins the Company […]

2 min read

Primary Insurer CEO Outlook: Steady As She Goes

CEOs of Canadian primary insurers are calling in 2006 for a steady course on pricing and “responsible” underwriting in response to their two biggest issues of the year – replenishing capital in the aftermath of US hurricanes and Canadian auto rate reforms. The CEOs were asked to predict and discuss their top trends for 2006 […]

November 30, 2005

19 min read