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Momentum building for more insurance M&A activity in 2014: Deloitte

February 28, 2014 by Canadian Underwriter

Despite a lower number of merger and acquisition deals in the insurance industry last year, and several economic and regulatory challenges, industry observers are “cautiously optimistic about 2014,” notes a new report from Deloitte. In its 2014 Insurance M&A Outlook

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Municipal infrastructure, condos with washing machines among major issues for insurers covering water damage

February 25, 2014 by Canadian Underwriter

The resources dedicated by Canadian insurance carriers to auto rate filings, the tendency of condominium units to have dishwashers and washing machines, climate change and the current state of municipal infrastructure are all major issues for property insurers covering water

News Climate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Lower cat losses boost results for U.S. homeowners’ insurance sector

February 21, 2014 by Canadian Underwriter

Last year, the homeowners’ insurance sector in the United States will have had its first statutory underwriting profit since 2007, benefitting from a decline in natural catastrophe losses, among other factors, according to a new report from Fitch Ratings. Increasing

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Saskatchewan Government Insurance asks to hike vehicle rates by 5.2%

February 11, 2014 THE CANADIAN PRESS

REGINA – Insurance costs could go up an average of $49 a year for most vehicles, if a request made by Saskatchewan Government Insurance is approved. SGI has submitted a proposal to the Saskatchewan Rate Review Panel for a net

News InsuranceMarkets / Coverages

Marsh expects favourable U.S. insurance market conditions in 2014

February 11, 2014 by Canadian Underwriter

Barring higher than expected catastrophe losses, notes a new report from Marsh, the ample capacity and competition that helped temper firming of commercial insurance rates in the United States in 2013 is expected to continue into 2014. In its U.S.

News InsuranceMarkets / Coverages

Global insurance pricing declines in last quarter of 2013

February 7, 2014 by Canadian Underwriter

Average pricing declines across the world, except in the United States, drove global insurance rates down at the end of last year, according to Marsh’s latest Global Insurance Market Quarterly Briefing. In the fourth quarter of 2013, rates tracked by

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Intact expects to raise rates for some types of insurance in wake of harsh 2013

February 6, 2014 David Paddon, THE CANADIAN PRESS

TORONTO – Intact Financial Corp.  says insurers will raise rates and take other measures this year to compensate for major ice storms and other catastrophic weather-related events of the past year. Canada’s largest property and casualty insurer, which offers Grey

News Climate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Property-liability premiums up, cat losses down at Allstate

February 6, 2014 by Canadian Underwriter

The Allstate Corp. released Wednesday its financial results for the 2013 calendar year, recording a 13.7-point drop in its fourth-quarter loss ratio, a 4% year-over-year increase in fourth-quarter property-liability premiums earned and a slight drop in net investment income. In filings

News InsuranceMarkets / Coverages

SCOR Global P&C sees 5% gross premium growth at January renewals

February 6, 2014 by Canadian Underwriter

SCOR Global P&C grew gross premiums 5% to 3.4 billion euros during the January 2014 renewals, results that contribute to the company’s belief that it is well-positioned for the “tiering” of the reinsurance market. “The January 2014 renewals confirm our

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Intact to launch usage-based auto insurance in Ontario in April

February 5, 2014 by Canadian Underwriter

Intact Financial Corp. stated Wednesday it plans to launch usage-based insurance in Ontario in April and will drop rates, by 5% on average, by targetting discounts to safe drivers. In the management discussion and analysis of its 2013 financial results

News InsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

Telematics gives brokers opportunities to offer advice but may need a ‘disable creep stalk’ function

January 24, 2014 Greg Meckbach, Associate Editor

Telematics is going to change the way auto insurance is offered, and the technology gives brokers plenty of opportunities to offer advice to consumers, according to speakers at Thursday’s P&C Crystal Ball conference who are using pilot versions of the

News AssociationsInsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

Ontario auto one factor in State Farm’s sale to Desjardins, industry CEO suggests

January 24, 2014 Greg Meckbach, Associate Editor

The Ontario government’s stance on auto insurance continues to inject uncertainty into the market and is one reason State Farm agreed to sell its Canadian operations to Desjardins Group, according to speakers at Thursday’s P&C Crystal Ball conference in Toronto.