Canadian Underwriter

Segment
Reinsurance


Is Canada going into recession?
News BrokersCatastrophesClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesReinsuranceRisk

Lessons from COVID-19 will help brokers get clients through a recession

September 9, 2022 David Gambrill

If a long-predicted recession comes to pass, brokers will need to stay close to their clients’ changing needs. But in some ways, commercial insurance brokers have gained an advantage from the discipline developed while navigating their clients through COVID-19. Those

Aerial view of a container ship passing beneath a suspension bridge. Semi truck with pink cargo container crosses above.
News Commercial LinesConstructionEarnings / RatingsInsuranceMarkets / CoveragesReinsuranceRisk

How de-globalization will generate $33 billion in commercial premiums

September 9, 2022 by David Gambrill

Countries are starting to restructure their supply chains, a ‘de-globalizing’ phenomenon that could generate $33 billion in new global commercial P&C insurance premiums over the next four years, Swiss Re predicted. In one example, ‘re-shoring’ supply chains means moving commercial

War clouds and recession lightening could mean problems for reinsurers
News BrokersCommercial LinesInsuranceMarkets / CoveragesReinsurance

What war, sanctions, inflation and looming recession mean for reinsurance

September 8, 2022 Philip Porado

Despite inflation, flagging consumer confidence and slowdowns in GDP globally, reinsurers have been experiencing a firming cycle that’s lasted 19 consecutive quarters, noted David Priebe, chairman of global risk and reinsurance specialist Guy Carpenter during a Sept. 7 briefing call.

Oil pump at oil sands well head
News BrokersCommercial LinesInsuranceMarkets / CoveragesReinsuranceRisk

3 ways brokers can help oil and gas companies maintain coverage

September 6, 2022 Philip Porado

Brokers with clients in the oil and gas industry are closely watching statements by insurers announcing intentions to exit from coverage of Canada’s oil sands. Those insurers, like many other companies globally, are under intense pressure from consumers and governments

Bellhop pushing a family's luggage into a hotel lobby.
News BrokersCommercial LinesInsuranceMarkets / CoveragesRisk

If recession hits, which specialty lines will create problems for brokers?

September 1, 2022 David Gambrill

Consumers respond predictably to a flagging economy – they cut back on spending. While Canada posted 3.3% annualized gross domestic product (GDP) growth in 2022 Q2, that number lagged analysts’ 4.4% forecast, and July’s real GDP number inched down 0.1%.

A beam balancing on a ball, symbolizing equilibrium
News Insurance

The good and bad news for reinsurers

August 31, 2022 by Jason Contant

The global reinsurance industry appears to be in a “state of equilibrium,” with positive and negative factors countering each other, according to a new report from AM Best. Despite lingering economic and operational challenges stemming from the COVID-19 pandemic, AM

The light at the end of the tunnel is an oncoming train
News BrokersCommercial LinesInsuranceMarkets / CoveragesMGAsReinsuranceRisk

Will recession hit brokers with a new D&O hard market?

August 30, 2022 David Gambrill

Just when pandemic chaos was starting to ease, the light that Canada’s commercial insurance brokers saw at the end of the tunnel is starting to look like an onrushing train named the Recession Special. With recent lifting of COVID-19 public

Tanker carrying liquified natural gas from Canada
News AnnouncementsBrokersClimate ChangeCommercial LinesConstructionInsuranceLegislation / RegulationReinsuranceRisk

Will insurers find opportunity in Europe’s need for Canadian LNG and hydrogen?

August 26, 2022 Philip Porado

Canadian insurers have a future opportunity to cover the infrastructure required for hydrogen energy products, commercial insurance brokers say. For example, if Europe wants its efforts to reduce dependence on Russian natural gas supplies to be successful, it will need

News AnnouncementsAppointmentsBrokersInsuranceLegalMarkets / CoveragesReinsuranceRisk

Commercial bond demand prompts new hire at AXA XL

August 22, 2022 Canadian Underwriter Staff

Continued demand among Canadian businesses for commercial bonds prompted AXA XL to appoint Cedric Franklin as vice president and regional director for Canada, the company said. “Commercial bonds are in high demand from companies seeking alternative financial solutions at a

Businessman touching a graph displaying financial results
News Insurance

Why global reinsurers are high-fiving right now

August 17, 2022 by Jason Contant

For the first time in five years, global reinsurers posted an underwriting profit, albeit a small one. The average combined ratio of the Top 10 global reinsurers was 99.2% in 2021, significantly better than the 104.9% posted in 2020, credit

Price Tag Icon
News InsuranceLegislation / RegulationReinsurance

OSFI’s capital guidelines include new 2.5% charge for risk-sharing pools

August 9, 2022 by David Gambrill

Canada’s federal solvency regulator has released its final capital guidelines for the P&C insurance sector, and one new wrinkle includes a fresh approach to handle the provincial risk-sharing pools administered by Facility Association — a new 2.5% capital charge. The

Stack of 45-rpm hit records
News BrokersCommercial LinesConstructionEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

P&C industry’s 2021 results: A one-hit wonder?

July 28, 2022 Glenn McGillivray

Last year was generally the most favourable for Canada’s insurers in a while – since 2006 as a matter of fact – with the industry’s return on equity (ROE) coming in at a solid 17.2% (against 11.2% in 2020). ROE