Canadian Underwriter

Topic
Earnings / Ratings


News Earnings / RatingsInsuranceMergers and Aqcuisitions

Low interest rates, alternative capital driving industry consolidation in insurance: A.M. Best

July 20, 2015 by Canadian Underwriter

An influx of alternative capital into the reinsurance market, low interest rates and a desire for geographic expansion are among the factors driving mergers and acquisitions in the insurance industry, A.M. Best Company Inc. suggested in a recent report. “A.M.

News Earnings / RatingsInsurance

PartnerRe improves terms of proposed merger with Axis Capital

July 17, 2015 by Canadian Underwriter

In an effort to encourage shareholders to support a merger with Axis Capital Holdings Ltd., PartnerRe Ltd. announced Thursday it is offering to increase, by 52%, a special dividend that PartnerRe shareholders would get in the event of such a

News Earnings / RatingsInsurance

Over 50% of large financial service institutions surveyed plan to invest at least US$200 million to address global structural reform regulations: Accenture

July 14, 2015 by Canadian Underwriter

More than half of large financial service institutions surveyed for a new report by Accenture expect to invest at least US$200 million on projects to overhaul how they do business to address global structural reform (GSR) regulations this year, with

News Earnings / RatingsInsurance

ACE-Chubb combo would be ‘significant player’ in Canadian personal insurance: MSA

July 9, 2015 by Canadian Underwriter

If ACE Ltd.’s US$28.3-billion proposal to acquire insurance carrier The Chubb Corp. is approved, the combined firm would be a “significant player,” in Canada, in the market for high net worth consumers and would also “present a challenge” to the

News Earnings / RatingsInsurance

Fairfax Financial Holdings completes acquisition of Brit PLC

July 9, 2015 by Canadian Underwriter

Toronto-based Fairfax Financial Holdings Limited announced Wednesday that it has completed its cash tender offer to shareholders of Brit PLC. Fairfax – a holding company that, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment

News Earnings / RatingsInsurance

Moody’s affirms debt ratings of ACE Group with stable outlook

July 3, 2015 by Canadian Underwriter

Moody’s Investors Service has affirmed the A3 senior debt rating of ACE INA Holdings Inc. with a stable outlook following the announcement that ACE has agreed to acquire all outstanding shares of The Chubb Corporation for approximately US$28.3 billion. ACE

News Earnings / RatingsInsurance

Reinsurance mergers ‘helping to maintain’ high valuations: Willis Re

July 2, 2015 by Canadian Underwriter

Mergers and acquisitions in the reinsurance sector are “throwing up unexpected combinations” while the market for offshore energy wind reinsurance, in the Gulf of Mexico, is softening, the reinsurance division of Willis Group Holdings plc suggested in a report released

News Earnings / RatingsInsuranceLegalMergers and Aqcuisitions

ACE Limited to acquire Chubb for US$28.3 billion

July 1, 2015 by Canadian Underwriter

ACE Limited and The Chubb Corporation announced on Wednesday that the boards of directors of both companies have unanimously approved a definitive agreement under which ACE will acquire Chubb. The total value of the acquisition is about US$28.3 billion in

News Earnings / RatingsInsurance

Consolidation fuelling reinsurers’ desire to grow and diversify in U.S.

June 30, 2015 by Canadian Underwriter

Reinsurers seem to feel the need to grow and diversify, but the current wave of consolidation presents its own challenges, attendees heard during a recent Casualty Actuarial Society (CAS) reinsurance seminar in Philadelphia. Meyer Shields, managing director of Keefe, Bruyette

News Earnings / RatingsInsuranceLegal

Bankrupt lawyer precluded from applying to court for indemnity from professional liability insurer

June 11, 2015 by Canadian Underwriter

When a Canadian defendant in a lawsuit is also going through bankruptcy proceedings, the right to ask a court for indemnity from a professional liability insurer is vested in the trustee in bankruptcy rather than the policyholder, the Court of

News Earnings / RatingsInsurance

ClaimsPro strengthens Atlantic Canada coverage with acquisition of Plant Hope Adjusters Ltd.

May 27, 2015 by Canadian Underwriter

Independent adjusting and claims management company ClaimsPro, announced on Wednesday that it has acquired Atlantic Canada adjusting service Plant Hope Adjusters Ltd. Fred Plant (pictured, right), formerly president of Plant Hope Adjusters Ltd., will serve as senior vice president, operations, Atlantic

News Earnings / RatingsInsurance

PartnerRe board to review revised takeover offer from EXOR

May 14, 2015 by Canadian Underwriter

PartnerRe Ltd., a commercial insurer and reinsurer which previously agreed to merge with competitor Axis Capital Holdings Ltd., announced this week it “will review” a revised $6.8-billion takeover offer from EXOR S.p.A., an Italian investment firm with a 9.32% stake