Topic
Earnings / Ratings
Terrorism insurance calls for ‘high level of vigilance:’ Guy Carpenter
January 5, 2017 by Canadian UnderwriterReinsurers are “striving to close gaps” in policies covering terrorism, while the decline in reinsurance pricing has moderated, Guy Carpenter & Company LLC suggested in a release Thursday. “While there are many areas of focus for product expansion and evolution…
Increased cyber espionage, data integrity attacks part of global threat landscape in 2017: Stroz Friedberg
January 5, 2017 by Canadian UnderwriterTop cyber threats in the coming year include nation state cyber espionage, a rise in data integrity attacks and more attacks harnessing Internet of Things (IoT) devices, Stroz Friedberg, an Aon company, notes in its 2017 Cybersecurity Predictions report. “We…
Record new Cat bond, ILS issuance in 2016 spurs highest-ever outstanding market size: Artemis.bm
January 3, 2017 by Canadian UnderwriterCatastrophe bonds and similarly structured insurance-linked securities (ILS) deals in 2016 propelled the market to record levels, with the approximately US$7 billion in new issuance resulting in an outstanding market size of US$26.82 billion at year-end, notes the latest edition…
Homeward Bound
January 2, 2017 Daniel Shum, Partner and National Insurance Leader, DeloitteA recent survey of first-time homeowners indicates widespread frustration with insurers, including too many underwriting questions, lack of information in plain English and an inability to complete insurance transactions online.
Fourth quarter 2016 M&A deal volumes fall from Q4 2015: Willis Towers Watson
December 21, 2016 by Canadian UnderwriterDeal volumes for the fourth quarter of 2016 so far have fallen to 201 deals compared to 307 in Q4 2015, according to Willis Towers Watson’s (WTW) latest Quarterly Deal Performance Monitor (QDPM), released on Tuesday. While there is a…
Europe’s insurers paid out 2.7 billion euros a day in 2015: Insurance Europe
December 20, 2016 by Canadian UnderwriterEurope’s insurers paid out a total of 975 billion euros in claims and benefits over the course of 2015, the equivalent of about 2.7 billion euros per day, according to figures released on Tuesday by Insurance Europe, the European insurance…
B.C. directs ICBC to conduct review of insurance rates, approve Basic rate increase of no more than 4.9%
December 20, 2016 by Canadian UnderwriterThe province of British Columbia has directed the Insurance Corporation of British Columbia’s (ICBC) board to commission a comprehensive, independent third-party review to look at a range of options and make recommendations that will “keep insurance rates affordable and align…
U.S. personal auto industry showing signs of weakening underwriting and operating ratios: A.M. Best
December 19, 2016 by Canadian UnderwriterThe personal automobile insurance industry in the United States is exhibiting signs of weakening underwriting and operating results, mainly driven by rising loss ratios, according to a new A.M. Best special report. A.M. Best reached this conclusion in its report,…
Manitoba Public Utilities Board approves 3.7% “over-all” general rate increase for Basic compulsory motor vehicle premiums
December 19, 2016 by Canadian UnderwriterThe Manitoba Public Utilities Board (PUB) announced on Friday that it has approved a 3.7% “over-all” general rate increase for Basic compulsory motor vehicle premiums in the province, effective March 1, 2017. “The Board found that on the evidence before…
U.S. Federal Reserve interest rate increase unlikely to provide much short-term relief for insurers: A.M. Best
December 14, 2016 by Canadian UnderwriterThe U.S. Federal Reserve’s decision to raise short-term interest rates by 25 basis points is unlikely to provide much relief for insurers, ratings firm A.M. Best Company said on Wednesday. That day, the Federal Reserve raised its benchmark rate by…
Swiss Re adopts climate-related financial disclosure recommendations
December 14, 2016 by Canadian UnderwriterSwiss Re announced on Wednesday that it will adopt the climate-related financial disclosure recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). Swiss Re helped develop the voluntary guidelines on climate risk reporting and is a member of the…
U.S. personal lines stable, commercial lines remain negative in A.M. Best’s 2017 outlooks
December 14, 2016 by Canadian UnderwriterRatings firm A.M. Best is maintaining a stable outlook for 2017 on the personal lines segment of the property and casualty industry in the United States, while also maintaining a negative outlook on commercial lines. The Oldwick, N.J.-based firm maintained…