Arch Capital Group announced that Gordon (Gord) Kerr has accepted the position of CEO and Chief Agent of Arch Insurance Group’s Canadian insurance operations. Arch Insurance Group is a division of Arch Capital Group. The bulletin noted that Kerr previously …
New Nationwide Entity to Target Smaller U.S.-Based Companies with Less Complex Needs, Says CEO Butcher Global insurance broker Marsh, accustomed to handling large and complex insurance accounts, has its eye on the $80 billion in insurance premium paid by smaller …
ING Canada is in a good position to make an acquisition and has the financial muscle to acquire pretty well any property and casualty insurer in Canada, the chief executive of the home and auto insurer said Wednesday. Speaking to …
Bermuda-based Allied World Assurance Company Holdings reported a net loss of $46.4 million, or $0.95 per diluted share, for the third quarter of 2008 compared to net income of $109.0 million, or $1.72 per diluted share, for the third quarter …
Shares of Canadian P/C insurer Kingsway Financial Services fell sharply Wednesday after the company posted a third-quarter loss on poor underwriting results and lower investment income. Kingsway, which sells insurance to risky auto drivers as well as truck and taxi …
Standard & Poor’s Ratings Services has raised its counterparty credit and financial strength ratings on Northbridge Financial Corp.’s operating companies–Commonwealth Insurance Co., Markel Insurance Co of Canada, Lombard General Insurance Co. of Canada, and Federated Insurance Co. of Canada (collectively …
The Bermuda-based Argo Group International Holdings managed to post a net profit of 51.1 million for the first nine months of 2008, despite posting an $8.8 million third quarter net loss. Other earnings highlight listed by the Group for the …
Canada’s insurance regulator on Tuesday eased guidelines on the capital that insurers need to set aside for guaranteed payments on segregated funds, lifting a concern that weighed on their share prices as equities markets plunged recently. Shares of Manulife Financial, …
Large insurance broker Marsh has formed Marsh & McLennan Agency LLC, a new business dedicated to serving the insurance needs of small and emerging growth U.S. companies. The agency will conduct its business separately from Marsh’s insurance brokerage operations. “This …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Barbados-based CIBC Reinsurance Company Limited (CIBC Re) (Barbados) with stable outlooks. CIBC Re is primarily a life reinsurance company that is …
