Risk

Convergence products critical in competitive market

“Convergence products” will play a critical part in the competitive landscape of the property-casualty industry even though they only represent a small segment, according to a new study by Conning Research and Consulting, Inc.The study, titled ‘Evolution in Risk and Capital Management: New Value Propositions for P&C Insurers/Reinsurers,’ explores the history of convergence products to […]

By Canadian Underwriter | November 29, 2005

2 min read

Risk

Integro buys up Lloyd’s broker

Integro Ltd. has expanded into the London, England marketplace, acquiring Humphreys Haggas Sutton & Co. Ltd (HHS).HHS is a Lloyd’s broker founded in 1994 by its three principals, Toby Humphreys, Simon Haggas and John Sutton. Integro has received regulatory approval from the Financial Services Authority for the change in control. The name of the firm […]

By Canadian Underwriter | November 24, 2005

2 min read

Risk

Kingsway enters agreement with The Robert Plan (November 23, 2005)

Kingsway Financial Services Inc. (TSX:KFS,NYSE:KFS) has entered into a program management agreement with The Robert Plan Corporation (‘RPC’) to provide additional underwriting capacity to assume the policies serviced by RPC. The agreement is effective for new and renewal business on and after January 1, 2006.”We are pleased to have entered into an agreement with The […]

By Canadian Underwriter | November 23, 2005

2 min read

Risk

Risk management for small, non-profit operations: task force

Making risk management strategies available to small businesses and volunteer-based operations in Atlantic Canada should help improve the availability and affordability of insurance in the area, a task force has recommended.Established in February 2005, the Atlantic Task Force on Insurance Availability and Affordability released its final report in November 2005. The report contains a number […]

By Canadian Underwriter | November 23, 2005

2 min read

What’s New: In brief (November 22, 2005)

The insurance industry is sponsoring Operation Red Nose in Ontario, Alberta and the Atlantic provinces this year. The popular program offers a volunteer designated driver service for holiday revelers while raising money for charity (The service is free, but donations are accepted). “It’s a natural extension of our industry’s long-standing commitment to road safety” Mark […]

2 min read

Insurance industry key in rise of credit derivatives

The insurance sector will continue to be a significant player in the “opaque” credit derivatives market, says the Fitch ratings agency.Fitch surveyed the activities of 120 financial institutions 73 banks and broker-dealers, 39 insurance companies and reinsurers, and eight financial guarantors in credit derivatives markets throughout the world.A credit derivative is a contract between parties […]

1 min read

S&P takes Swiss Re off CreditWatch

Standard & Poor’s Ratings Services has removed Swiss Reinsurance from CreditWatch with negative implications, where they were placed Sept. 9, 2005.S&P has affirmed a counterparty credit and financial strength rating of ‘AA’ for Swiss Re and its core operating companies, although the outlook is negative.Following discussions with Swiss Re’s management, Standard & Poor’s says it […]

2 min read

Aon sells Swett & Crawford (November 17, 2005)

Aon Corporation (NYSE: AOC) has sold its U.S.-based wholesale broking operation, Swett & Crawford, to an investor group including Hicks, Muse, Tate & Furst Inc. and Banc of America Capital Investors.Terms of the sale were not disclosed.In a press release, Greg Case, Aon’s president and CEO, said: “We believe Swett & Crawford has a great […]

2 min read

Aon seeks new ownership for p&c business

Aon Corporation (NYSE: AOC) is seeking a new owner for its warranty, credit insurance and property & casualty underwriting businesses.Greg Case, Aon’s president and CEO, says “by exploring alternatives, we expect to determine if the potential of our warranty, credit and property & casualty businesses can be more fully realized under different ownership.”Aon Corporation provides […]

1 min read

RIMS to expand ERM initiatives

The Risk and Insurance Management Society, Inc. (RIMS) is planning to become the premiere resource and support organization for Enterprise Risk Management (ERM). In the months ahead, RIMS plans to prepare new resources to support organizational implementation of enterprise risk management. “As we head towards the future of the risk management industry, RIMS will be […]

2 min read