Topic
Markets / Coverages
“Entire new sponsors” will enter insurance linked securities market: Swiss Re
August 5, 2016 by Canadian UnderwriterThe total value of outstanding insurance-linked securities issuance dropped from $24 billion to $22.3 billion between Jan. 1 and June 30, Swiss Re Capital Markets Corp. said in a report released Thursday, observing that issuance “came to a screeching halt”…
Echelon Financial Holdings Inc. sees lower net income in 2016 Q2, will focus on Canadian operations
August 5, 2016 by Canadian UnderwriterEchelon Financial Holdings Inc. (EFH) is exiting the European market to focus on growing its Canadian operations, which were negatively affected by the Fort McMurray wildfires that contributed to lower net income for both 2016 H1 and Q2 compared to…
Confiscation, expropriation and nationalization “still core” to political risk coverage: RIMS report
August 4, 2016 by Canadian UnderwriterAn organization’s exposure to political risk depends on the independence of the judiciary in the countries in which it operates, and risk managers should not assume that only emerging markets have political risk, Risk and Insurance Management Society (RIMS) Inc.…
Hannover Re sees dip in net income, lower gross written premiums for 2016 H1 compared to 2015 H1
August 4, 2016 by Canadian UnderwriterHannover Re saw net income fall 8.6% to 486.1 million euros for the first half of 2016 from 531.9 million euros in the prior-year half, but remains confident the company is on track to achieve its full-year target of at…
Global market for professional indemnity insurance expected to reach US$40.5 billion by 2019: Finaccord
August 3, 2016 by Canadian UnderwriterThe global market for professional indemnity (liability) insurance is on track to climb from its 2015 total of approximately US$36.2 billion in gross written premiums (GWPs) to US$40.5 billion by 2019, Finaccord reported Wednesday. Of the 2015 premium total, the…
Mutual insurers seeing revival in recent years: Swiss Re sigma report
August 2, 2016 by Canadian UnderwriterMutual insurers’ share of the overall insurance market increased from 24% of direct premiums written in 2007 to just over 26% in 2014, reversing some of the declines of previous decades, according to Swiss Re’s latest sigma report. Released on…
Economic crime in global financial services sector has increased, despite compliance investments: PwC
July 27, 2016 by Canadian UnderwriterDespite “significantly increasing investment in compliance and being continuously under the scrutiny of regulators,” economic crime in the global financial services sector has increased slightly, showing new thinking is needed to make investment in compliance deliver more value and tackle…
Jardine Lloyd Thompson Group’s £36.2 million profit for 2016 H1 half of prior-year period: interim results
July 27, 2016 by Canadian UnderwriterCollaboration among its Specialty operations around the world is driving organic revenue growth for Jardine Lloyd Thompson Group plc (JLT), but the £36.2 million in profit for the first half of 2016 is half the £77.7 million for the same…
Sea piracy drops to 21-year low in first half of 2016: global report
July 26, 2016 by Canadian UnderwriterDespite a surge in kidnappings off West Africa, piracy and armed robbery at sea has fallen to its lowest levels since 1995, notes a new report issued Monday by the International Chamber of Commerce’s International Maritime Bureau (IMB). There were…
Managing General Agent channel continues growth at rate exceeding P&C market: Conning
July 25, 2016 by Canadian UnderwriterThe Managing General Agent (MGA) market has continued to grow at a rate exceeding that of the property-casualty market overall, according to a new study by Conning, Inc., a Hartford, Conn.-based global investment management firm. “In our analysis of the MGA…
AIR Worldwide expands global pandemic model
July 25, 2016 by Canadian UnderwriterBoston-based catastrophe risk modelling firm AIR Worldwide announced on Monday that it has expanded its global pandemic model to include outbreaks of six additional diseases. The model now explicitly accounts for nine pathogens, including bacterial and viral diseases, in addition…
Catastrophe bond issuance slowed during second quarter of 2016: Aon Securities
July 21, 2016 by Canadian UnderwriterFollowing a record breaking first quarter issuance of US$2.22 billion, catastrophe bond issuance for the second quarter of 2016 stood at US$800 across five transactions – a relatively low figure during a historically active quarter, Aon Securities said on Thursday.…