“The catastrophic losses we incurred during the spring months, the largest since the 1998 Ice Storm, overshadow one of our best performances in recent years,” said President and CEO Charles Brindamour
After-tax losses from the Slave Lake event totaled approximately $31 million net of reinsurance
“Despite the challenging insurance industry and investment environment, during the second quarter we recorded good operating results and essentially maintained our common shareholders’ equity and book value per share,” said Prem Watsa
Travelers reports first unprofitable period since 2004, due to tornado and other catastrophe claims
U.S. storms, Alberta wildfires add to loss estimates
View the video here on your mobile device. Ian Quigley is the Senior Consultant at the innovative financial advice firm, Qube Consulting 2011 Federal Budget In Common English Part: 2 The Finance Minister described the budget as “the next phase of Canada’s economic action plan”. In plain language the budget is a status quo plan. [...]
Tsunami caused production disruptions, hacker attack crippled online gaming service
Company reports first quarter surplus earnings of $357 million; P&C earnings declined 34.9%
In Canada, premiums of CAD $456 million were up by 26% (23% at constant exchange) driven by rate increases, strong retention and the acquisition of GCAN
Insurer impacted by high level of natural catastrophes, reports loss of USD $665 million
“Six months after the implementation of the Ontario auto reforms, we have seen a decline in the volume of claims; however we remain concerned about a potential increase in bodily injury claims,” said Kathy Bardswick, President and CEO
Mutual insurer’s net income increased to $29.0 million from $16.0 million in same quarter last year
Insurer reports healthy premium growth in all lines of business except in Ontario auto
Toronto-based P&C company suffers $240.6 million Q1 loss
Central 1 says credit union earnings rose nearly 30 percent in BC and 20 percent in Ontario last year
Insurer paid out a record $100 million in storm claims but saw 2010 net income increase more than 30 percent from 2009
Near-record storm claims of $61.5 million in 2010 don’t dampen SGI’s profits
Great-West Lifeco Inc. said it expects to take a $75 million after-tax hit in the first quarter, due largely to the magnitude 9.0 earthquake and resulting tsunami in Japan. “The financial impact is essentially related to claims on property catastrophe retrocession coverage sold to property and casualty reinsurers by London Reinsurance Group Inc., an indirect subsidiary of [...]
Lloyd’s announced it earned a profit of £2,195 million (US$3,446m) for 2010. The specialty insurance market’s combined ratio of 93.3% (2009: 86.1%) compares favourably with an estimated average of: 101.5% for US property and casualty insurers ; 95.4% for US reinsurers ; 90.8% for Bermudian insurers and reinsurers ; and 101.0% for European insurers and [...]
