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Insurance giant Swiss Re on Friday reported a sharp upswing in full-year profit, benefitting from what it described as an attractive market environment after a “batch of bad years.” The Zurich-headquartered company posted full-year net profit of $3.2 billion, in line with expectations according to an LSEG-compiled consensus. It marked a nearly 580% increase when compared to the previous … Read more

Canadian home buyers are shifting to fixed-rate mortgages at the fastest pace in a year, on bets that more rate hikes from the central bank are in store to bring inflation under control, even as the cost of these home loans remains close to the highest level since 2009. Borrowers are also increasingly eschewing the popular five-year … Read more

The NL Supreme Court has clarified the rule on pro rata distribution in an insurance policy dispute involving multiple claimants. In Canadian Lawyers Insurance Association v. Drover, 2023 NLSC 106, the Canadian Lawyers Insurance Association (CLIA) provides errors and omissions insurance to the Law Society of Newfoundland and Labrador and its members. The insurance covers … Read more

The Ontario Superior Court of Justice has addressed the matter of public policy considerations in awarding costs following the dismissal of a claim seeking an $800,000 legacy from the decedent’s estate. In Kurt v. Kurt and Sullivan, 2024 ONSC 589, the plaintiff, Kelly Kurt, brought a motion for summary judgment, arguing that the legacy was outlined … Read more

The Ontario Superior Court of Justice has granted a request for default judgment to recognize and enforce a United States District Court judgment against Iran for its role in the 1996 Khobar Towers bombing in Dhahran, Saudi Arabia. The towers were a residential complex that housed, among others, American service members. Dozens of people, including … Read more

Luc Roy has been tapped to sit as a provincial court judge in Campbellton, New Brunswick. The announcement was made by Justice Minister Hugh J. Flemming, who said Roy’s expertise will “allow him to contribute significantly to our judicial system.” Roy’s educational background includes a Bachelor of Psychology in 2004 and a Bachelor of Laws … Read more