Canadian Underwriter

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Reinsurance


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Impact of Fort McMurray wildfire softened by reinsurance risk sharing: DBRS

April 26, 2017 by Canadian Underwriter

Most Canadian insurers were able to generate positive underwriting results in Alberta through their use of reinsurance risk sharing following the Fort McMurray wildfire, credit ratings agency DBRS Limited said in a commentary released on Wednesday. The commentary, titled 2016

News Commercial LinesEarnings / RatingsInsuranceMergers and AcquisitionsPersonal LinesReinsurance

Chubb net income up 149.2% to US$1.09 billion in Q1 2017

April 26, 2017 by Canadian Underwriter

Chubb Limited has reported a 149.2% increase in net income for the first quarter of 2017 ending March 31, from US$439 million in Q1 2016 to US$1.09 billion in the most recent quarter. Operating income was US$1.17 billion, up 15.3%

News CatastrophesInsuranceMarkets / CoveragesReinsurance

ILS market growth continues in first quarter of 2017, record year possible: Willis Towers Watson Securities

April 26, 2017 by Canadian Underwriter

Non-life insurance-linked securities (ILS) capital grew again in the first quarter of 2017, continuing the trend from last year, the securities division of Willis Towers Watson (WTW) has reported. Willis Towers Watson Securities, the investment banking business of WTW, released

News Commercial LinesInsurancePersonal LinesReinsurance

Global insurance industry to see “slightly increased” growth by 2018, P&C premium volume to grow by 4% on average: Munich Re

April 20, 2017 by Canadian Underwriter

The global insurance industry is likely to see slightly increased growth by 2018, Munich Re reported on Thursday. Munich Re said in a press release that better economic prospects in the United States and in many emerging markets will offset

News CatastrophesCommercial LinesInsurancePersonal LinesReinsurance

Canadian industry underwriting income down 81% in 2016: MSA

April 18, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had underwriting income of $484 million in 2016, down 81% from $2.554 billion in 2015, while reinsurers’ combined ratio deteriorated 30.4 points year over year, MSA Research Inc. suggested in a report released

News Commercial LinesInsuranceLegislation / RegulationMarkets / CoveragesMergers and AcquisitionsPersonal LinesReinsurance

161 companies have exited Canadian P&C market in past 20 years, 96% voluntarily: PACICC

April 13, 2017 Jason Contant, Online Editor

Over the past 20 years, 161 different insurance companies have exited the Canadian P&C market, 96% of which were voluntary exits, according to a new report from the Property and Casualty Insurance Compensation Corporation (PACICC). The report, the 11th in

News CatastrophesCommercial LinesInsuranceMarkets / CoveragesReinsurance

Swiss Re losses from Cyclone Debbie currently estimated at US$350 million

April 13, 2017 by Canadian Underwriter

Swiss Re currently estimates its claims burden from tropical cyclone Debbie in Australia at about US$350 million, net of retrocession and before tax, while the total insured market losses associated with the event is estimated at around US$1.3 billion. The

News InsuranceLegislation / RegulationMarkets / CoveragesReinsurance

“New normal” may be emerging in global energy insurance markets: Willis Towers Watson

April 12, 2017 by Canadian Underwriter

The energy sector is still beset by some significant challenges, including low oil prices, but there may also be a “new normal” emerging in the global energy insurance market, according to global advisory, broking and solutions company Willis Towers Watson

News AssociationsCatastrophesClimate ChangeCommercial LinesConstructionInsurancePersonal LinesReinsurance

Construction of mitigation infrastructure to protect against flood should be seen as nation-building projects: Australian insurers

April 12, 2017 by Canadian Underwriter

The Insurance Council of Australia (ICA) cited the Canadian government’s budget commitment to create a Disaster Mitigation and Adaptation Fund in a recommendation to its own federal government to treat the construction of mitigation infrastructure to protect flood-prone towns as

News Commercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

Global reinsurer capital up by 5% to US$595 billion as of year-end 2016: Aon Benfield

April 11, 2017 by Canadian Underwriter

Global reinsurer capital rose by 5% to US$595 billion at Dec. 31, 2016, according to the latest edition of the Aon Benfield Aggregate (ABA) report. The report, released on Tuesday, highlights trends in property and casualty reinsurance through the analysis

News CatastrophesCommercial LinesInsurancePersonal LinesReinsurance

213 million euros initial loss estimate for extra-tropical cyclone Thomas: PERILS

April 10, 2017 by Canadian Underwriter

The initial estimate of the insured property market loss from extra-tropical cyclone Thomas is 213 million euros, representing the second time so far this season that a European winter storm exceeded 200 million euro, Zurich-based PERILS reports. The market loss

News CatastrophesCommercial LinesInsurancePersonal LinesProfessional DevelopmentReinsurance

Intact reports Q1 cat losses of $88 million, aims to double direct-to-consumer business in ‘near term’

April 7, 2017 by Canadian Underwriter

Intact Financial Corp. recently reported its catastrophe losses, net of reinsurance, were $88 million for the first three months of 2017. Toronto-based Intact also says it wants to “double” its direct-to-consumer business in the “mid-term” and is nominating Sylvie Paquette,