Canadian Underwriter

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Reinsurance


News CatastrophesInsuranceLegislation / RegulationReinsurance

Reinsurance Association of America calls for increased competition in U.S. flood insurance

June 1, 2017 by Canadian Underwriter

The Reinsurance Association of America is calling on the U.S. government to encourage private-sector insurers to compete with the National Flood Insurance Program, which is scheduled to expire Sept. 30. NFIP was created in 1968. A property cannot qualify for

News InsuranceLegislation / RegulationMarkets / CoveragesProfessional DevelopmentReinsuranceTechnology

Technological change and cyber risk overtake regulation as top risks for global insurers: study

May 31, 2017 by Canadian Underwriter

The global insurance industry’s ability to confront structural and technological changes is now the greatest risk it faces, according to a new survey of insurers and close observers of the sector, released on Tuesday. The Centre for the Study of

News CatastrophesCommercial LinesInsurancePersonal LinesReinsuranceTechnology

Data analysis may start to focus more on modelling the process than the data itself, CIFF speakers suggest

May 29, 2017 Jason Contant, Online Editor

Data analysis may start to focus more on modelling the process than the data itself, speakers suggested last week at the Canadian Insurance Financial Forum (CIFF). Although modelling began decades ago to model the process of financial catastrophes, there is

News CatastrophesInsuranceMarkets / CoveragesPersonal LinesReinsurance

Need for more collaboration between municipalities one lesson learned from Fort McMurray wildfire, CIFF conference hears

May 26, 2017 Jason Contant, Online Editor

The need for more collaboration between various municipalities and the consequences of poor land use policies were just two lessons learned from the Fort McMurray wildfire, a speaker said on Wednesday at the Canadian Insurance Financial Forum (CIFF). Michael Brisebois,

News InsurancePersonal LinesReinsurance

Insurance and reinsurance industries should pay more attention to “black swan” events: CIFF speaker

May 25, 2017 Jason Contant, Online Editor

The insurance and reinsurance industry would benefit from paying more attention to “black swan” events, those which are “not anticipated and probably not modelled,” a speaker suggested on Wednesday at the Canadian Insurance Financial Forum (CIFF). “When you look back

News AssociationsCatastrophesCommercial LinesEarnings / RatingsInsuranceLegislation / RegulationPersonal LinesReinsurance

Relying on government to solve “big shake” problem courts continued procrastination: Tannas

May 25, 2017 by Angela Stelmakowich

The potential for procrastination to address the consequences of a large earthquake in Canada are persistent and pervasive, demanding implementation of a tactical plan that could see “the issue dealt with, one way or another, in the next 12 months,”

News Commercial LinesEarnings / RatingsInsurancePersonal LinesProfessional DevelopmentReinsurance

Combined ratio for Canadian insurance industry in Q1 2017 estimated at 101.3%, up from 94.7% in Q1 2016: Baker

May 24, 2017 Jason Contant, Online Editor

The insurance industry in Canada saw a 6.6% hike in the combined operating ratio for the first quarter of 2017, from 94.7% in Q1 2016 to 101.3% in the first three months of this year, MSA Research Inc. president and

News Commercial LinesInsuranceMergers and AcquisitionsReinsurance

Allied World board members concerned in 2016 with ‘protracted negotiations’ with un-named prospective buyer: SEC filing

May 23, 2017 by Canadian Underwriter

Six months before announcing its proposed acquisition by Toronto-based Fairfax Financial Holdings Ltd., commercial insurer Allied World Assurance Company Holdings AG received an offer letter from an un-named prospective buyer for $48 a share, recently-released documents indicate. Fairfax and Zug,

News AssociationsInsuranceMarkets / CoveragesTechnology

Customer choice must be key consideration in next wave of insurTech: expert

May 18, 2017 by Angela Stelmakowich

An insurer’s safest bet for survival as insurTech enters its second wave is to make customer choice a true focal point, providing customers access to answers and services when and how they want, Matteo Carbone, founder and director of the

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AcquisitionsReinsurance

Soft pricing in global reinsurance market to continue for at least the rest of 2017: Fitch

May 16, 2017 by Canadian Underwriter

The soft pricing in the global reinsurance market will continue for at least the rest of 2017, ratings firm Fitch Ratings said in a report released Monday. “We expect premium rates to continue declining, due to large volumes of under-deployed

News AppointmentsInsuranceProfessional DevelopmentReinsurance

Former Marsh & McLennan CEO Duperreault replaces Hancock as CEO of AIG

May 15, 2017 by Canadian Underwriter

American International Group Inc. has a new chief executive officer, Brian Duperreault, as of Sunday, the New York City-based insurer announced. Duperreault (pictured right), a former CEO of Marsh & McLennan Companies Inc., is now also president and director of

News CatastrophesClimate ChangeCommercial LinesEarnings / RatingsPersonal LinesReinsurance

Hannover Re Group net income down 2.4% to 264.8 million euros in 2017 Q1 compared to 2016 Q1

May 10, 2017 by Canadian Underwriter

Group net income for Hannover Re contracted to 264.8 million euros in the first quarter of 2017, but was in line with the prior-year quarter’s exceptionally good results, positioning the reinsurer well for achieving its financial targets this year. Group