The influence of cyber risk on insurer ratings is likely to be gradual, Fitch Ratings has reported. Cyber insurance represents a relatively small percentage of insurers’ business and insurers are taking a cautious approach to growing coverage, given the uncertainty…
TORONTO, Nov. 13, 2017 /insPRESS/ – Newcom Business Media Inc. is pleased to announce the appointment of David Gambrill as Editor-in-Chief of Canadian Underwriter. “David is an award-winning writer and editor who’s arguably Canada’s most experienced and knowledgeable insurance journalist,”…
The United States National Flood Insurance Program – which expires next month – “remains essential and has a purpose,” A.M. Best Company Inc. said in a recent report. But without billions in relief provided in a law passed Oct. 26,…
Allianz Group has reported total third-quarter revenues of 28.3 billion euros, up 2.1% from 27.7 billion euros in the prior-year quarter. Allianz, which offers insurance and fund products to over 86 million customers in more than 70 countries, reported a…
Property & Casualty gross written premiums (GWP) for the nine months ending Sept. 30 declined 2% in U.S. dollars to US$25.3 billion from US$25.7 billion, Zurich Insurance Group reported on Thursday. In particular, P&C GWP in North America for 9M…
Despite losing about 2.7 billion euros on three recent North Atlantic hurricanes alone, Munich Re said Thursday it is “expecting to generate a small profit” this year. Munich Re released its financial results for the period ending Sept. 30, reporting…
Hannover Re reported on Wednesday a Group net income of 548.9 million euros for the third quarter of the year ending Sept. 30, despite an above-average burden of catastrophes losses. The Group net income was down from 791.9 million euros…
Intact Financial Corp.’s personal auto results were “disappointing” during the three months ending Sept. 30, chief executive officer Charles Brindamour said Tuesday in press release, but the Toronto-based insurer reported that across all lines, underwriting income more than doubled from…
Despite the recent losses to the industry from multiple North Atlantic hurricanes, The Allstate Corp. has reported underwriting income is up more than 20%, from $355 million in the third quarter of 2016 to $429 million in the three months…
Commercial insurance buyers in North America are likely to face rate increases for 2018 insurance programs as the industry continues to tally losses following one of the most “active and financially disruptive hurricane seasons in history,” according to Willis Towers…
Omaha, Nebraska-based Berkshire Hathaway Inc. has reported net earnings attributable to shareholders of US$4.1 billion for the third quarter of 2017 ending Sept. 30, down from US$7.2 billion in Q3 2016. For the first nine months of the year, net…
The impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of…