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Inc.
Travelers reports lower net, core income in 2017 Q3 than in 2016 Q3
October 20, 2017 by Canadian UnderwriterA US$700 million pre-tax hit for catastrophe losses in 2017 Q3 contributed to Travelers Companies, Inc. seeing both its net income and core income drop compared to the prior-year quarter. The U.S. insurer’s net income amounted to US$293 million for…
Guidewire’s planned acquisition of Cyence to help p&c clients deal with 21st-century risks
October 10, 2017 by Canadian UnderwriterGuidewire Software, Inc.’s planned acquisition of Cyence Inc. will ensure Guidewire clients can access a cloud-based data listening and risk analytics solution to help them manage emerging risks for which long claims histories may not be available. California-based Guidewire Software,…
Catastrophe losses contribute to decrease in 2017 Q2 net income for Travelers
July 21, 2017 by Canadian UnderwriterSolid net investment income was not enough to offset higher catastrophe losses and lower underlying underwriting gains, contributing to the Travelers Companies, Inc. witnessing lower net income for 2017 Q2 compared to 2016 Q2. Net income was US$595 million for…
California firm Digital Map Products acquires DMTI Spatial
July 12, 2017 by Canadian UnderwriterIrvine, Calif.-headquartered Digital Map Products, Inc. (DMP), a geospatial mapping technology and intelligence firm, announced on Wednesday that it has acquired DMTI Spatial from Neopost Canada. The “acquisition of Canada’s market leader in location-based information and data quality expands DMP’s…
VirtualArmour expands penetration into energy sector cyber protection
July 10, 2017 by Canadian UnderwriterVirtualArmour International Inc. has partnered with a global architectural design and engineering firm that services the energy industry to design new security infrastructure in light of the sector increasingly becoming a target for cyber attacks. Under the terms of a…
Companies plan to spend more on cloud computing services this year, higher prices among drivers: Clutch
June 23, 2017 by Canadian UnderwriterCompanies are planning to spend more on cloud computing services in 2017, but must be cognizant that anticipated costs could balloon absent appropriate monitoring and use, suggest survey results released this week by Clutch. Reflecting input from 283 IT professionals…
AIG sees net loss of about US$3 billion in 2016 Q4
February 15, 2017 by Canadian UnderwriterAmerican International Group, Inc. (AIG) has posted net losses for both the full year and the fourth quarter of 2016, but company president and CEO Peter Hancock reports that actions taken last year will help “dramatically reduce uncertainty and deliver…
U.S. financial firms looking to robo-technology to complement existing service models
January 25, 2017 by Canadian UnderwriterRobo-technology is expected to be part of the mix for most polled U.S. financial firms looking to enhance their existing service models, suggest a new survey from Vestmark, Inc. Feedback was captured during a webinar last month attended by 150…
Heather Masterson appointed president and CEO of Travelers Canada
November 10, 2016 by Canadian UnderwriterTravelers Canada announced on Thursday that Heather Masterson has been appointed president and chief executive officer, effective immediately. Masterson succeeds Duane Sanders, “who has taken a senior leadership role in the company’s largest business segment in the United States,” Travelers…
Fifth of surveyed U.S. businesses have not done any recent security testing for vulnerabilities
September 15, 2016 by Canadian UnderwriterAbout a fifth of surveyed businesses south of the border admit not having done any security testing for at least six months despite the lion’s share of respondents also reporting their organizations have encountered at least one security issue, notes…
Saturated ground means more rain could spur more flooding in southern Louisiana: AIR Worldwide
August 25, 2016 by Canadian UnderwriterAdditional rainfall could result in more flooding in southern Louisiana, already hit hard by extensive flooding associated with one of the state’s most catastrophic, non-tropical cyclone-triggered flood events in decades. “In the event of further rainfall, the region’s flat topography,…
AIG reaches agreement to sell United Guaranty Corporation to Arch Capital for US$3.4 billion
August 17, 2016 by Canadian UnderwriterAmerican International Group, Inc. has entered into an agreement to sell its 100% interest in United Guaranty Corporation (UGC) to Arch Capital Group Ltd. for US$3.4 billion, a move in line with AIG’s continuing efforts to streamline operations and better…