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Non-life premiums down 4% at PartnerRe

October 28, 2016 by Canadian Underwriter

PartnerRe Ltd., which writes commercial insurance and reinsurance worldwide, reported this week a 4% drop in Q3 non-life premiums while the combined ratio was essentially unchanged at 82.7% PartnerRe, which is based in Pembroke, Bermuda and has a Toronto office,

Business Review
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Net income for Aon up to US$307 million in Q3, Risk Solutions revenue up 2%

October 28, 2016 by Canadian Underwriter

Aon plc has reported a net income attributable to shareholders of US$307 million for the third quarter of 2016 ending Sept. 30, up from US$295 million for the prior-year quarter. Total revenue was US$2.7 billion, similar to the prior-year quarter,

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Combined ratio down 4 points at Axis Capital

October 27, 2016 by Canadian Underwriter

Axis Capital Holdings Ltd. released Wednesday its financial results for the period ending Sept. 30, reporting a 2% overall increase in Q3 net premiums earned while underwriting income was up 46%. Pembroke, Bermuda-based Axis Capital reported net premiums earned of

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Combined ratio improves 2.7 points at Arch

October 27, 2016 by Canadian Underwriter

Arch Capital Group Ltd. of Hamilton, Bermuda, reporting a 7.5% overall increase in net premiums written, a 2.1-point improvement in loss ratio and a drop in reinsurance premiums partly due to a decline in casualty, marine and aviation lines premiums.

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Everest Re’s combined ratio improves five points to 85.6% in Q3 2016

October 27, 2016 by Canadian Underwriter

Hamilton, Bermuda-based Everest Re Group, Ltd. has reported a combined ratio for the third quarter of this year of 85.6%, a five-point improvement from 90.6% in the same quarter of 2015. Excluding catastrophe losses, reinstatement premiums and prior period loss

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Aspen Insurance reports a combined ratio of 93.8% for the third quarter of 2016

October 27, 2016 by Canadian Underwriter

Hamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a combined ratio of 93.8% for the third quarter of 2016, up slightly from 93.4% in the third quarter of 2015. Aspen Insurance released its financial results on Wednesday, reporting a net

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News CatastrophesClimate ChangeCommercial LinesEarnings / RatingsPersonal Lines

Nat-cats contribute to decrease in net income at SCOR for first three quarters of 2016 compared to prior-year period

October 27, 2016 by Canadian Underwriter

The Group net income for SCOR for the first nine months of 2016 took a hit, partly as a result of the impact of natural catastrophes, falling 11.0% to 438 million euros compared to 492 million euros for the first

Terrorism warnings headlines
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AIG quadruples global property terrorism insurance limits to $1 billion

October 26, 2016 by Canadian Underwriter

American International Group, Inc. (AIG) announced on Wednesday that it has raised its property terrorism insurance limits globally to $1 billion. The larger capacity is available to clients on a standalone basis or as expanded limits within AIG’s Large Limits

News InsurancePersonal LinesReinsurance

U.S. homeowners premiums set to surpass US$90 billion for the first time: Aon Benfield

October 25, 2016 by Canadian Underwriter

Aon Benfield is forecasting continued growth in direct homeowners insurance premiums in the United States for 2016, despite a decreasing return on equity (ROE) for insurers. Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, released its

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Coastal wetlands prevented more than US$625 million in property damages during Hurricane Sandy in 2012: report

October 25, 2016 by Canadian Underwriter

More than US$625 million in property damages were prevented during Hurricane Sandy in 2012 by coastal wetlands along the coast northeast coast of the United States, according to a new report released on Tuesday. Using the latest modelling techniques, scientists

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Insurance industry must work to reduce protection gap, burden on governments

October 25, 2016 by Canadian Underwriter

The insurance industry needs to capitalize on its unique risk understanding to reduce the financial burden on governments in light of “the daunting scale of the protection gap,” Nick Frankland, CEO of EMEA operations for Guy Carpenter & Company, LLC,

News CatastrophesClimate ChangeCommercial LinesConstructionEarnings / RatingsInsurancePersonal LinesReinsurance

Estimated insured losses for U.S., Caribbean from Hurricane Matthew US$2.5 billion to US$8 billion: RMS

October 21, 2016 by Canadian Underwriter

RMS has estimated Hurricane Matthew will produce insured losses of US$1.5 billion to US$5 billion for the United States and US$1 billion to US$3 billion in the Caribbean, making it the reinsurance industry’s costliest Atlantic hurricane since Sandy four years