Munich Re, which spent over $4 billion in 2017 for three hurricanes alone, is not saying how many jobs – if any – it is cutting in Canada. Published reports Thursday quoted Munich Re officials as saying the German reinsurer…
The AXA Group, based in France, has entered into a $15.3-billion agreement to acquire 100% of XL Group Ltd., which includes Canadian subsidiary XL Catlin Canada. The merger agreement, expected to close in the second half of 2018, has been…
Global reinsurer Swiss Re is employing artificial intelligence (AI) to trace relationships between insurance contracts, all the way down to a single clause, allowing underwriters to process a submission much faster. Mike Fitzgerald, senior insurance analyst with financial consulting firm…
Insurers should be giving more thought to planning how to rebuild economies in the aftermath of a crisis, a reinsurance executive urges. “To my mind, what is often seemingly forgotten is the piece of economic resilience,” says Alex Kaplan, head…
TORONTO, Jan. 31, 2018 /insPRESS/ – DAS Canada and Temple Insurance announce new MGA agreement DAS Canada will join and shift its risk carrying capacity to Temple Insurance, the insurance carrier of Munich Re in Canada, to advance as one…
Canadian property insurers could face reinsurance rate hikes this June as an indirect result of recent California wildfires and North Atlantic hurricanes, a ratings firm analyst predicts, echoing the opinions of several commentators in the Canadian property and casualty (P&C)…
Despite last year’s devastating hurricanes, investors are happy to keep shovelling money into cat bonds and insurance-linked securities (ILS), which in turn are making reinsurers think twice about hiking rates. The catastrophe bond and ILS markets have “grown hugely over…
Insurance rates will rise in Canada this year unless catastrophe losses are lower than normal, a speaker suggested to industry professionals Tuesday. “I do expect that as this year unfolds, unless we have a very benign 2018, we do expect…
Which (re)insurers absorbed the bulk of the insured damages when Hurricanes Harvey, Irma and Maria ripped through the Caribbean and continental United States in 2017 Q3? A.M. Best compiled a list of 41 insurers and reinsurers who paid out more…
MONTREAL – While people in British Columbia are mindful of the fact they could eventually face some of the strongest earthquakes in the world, at least one study warns there’s a lack of awareness of the risk in Eastern Canada.…
RGAx, a subsidiary of Reinsurance Group of America, has acquired a group of companies providing technology, consulting and outsourcing solutions to the North American life and reinsurance industries – including two Canadian organizations. On Jan. 8, RGAx announced the acquisition…
Munich Re has confirmed what industry analysts have long speculated — the hurricane trio of Harvey, Irma and Maria made 2017 the year of the highest global insured losses ever. The final insurance bill for those three hurricanes and other…