Canadian Underwriter

Topic
Mergers and Aqcuisitions


News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Canadian P&C industry’s combined ratio improves seven points in Q2 2017 to 97.7%: MSA

September 28, 2017 by Canadian Underwriter

The Canadian P&C industry’s combined ratio improved 7.06% in the second quarter of this year from the same quarter last year to 97.71% from 104.77%, according to the MSA Quarterly Outlook Report, released on Thursday. “What a difference a year

News CatastrophesInsuranceMergers and Aqcuisitions

B.C. wildfires cause more than $127 million in insured damage: CatIQ

September 27, 2017 by Canadian Underwriter

The “two most significant wildfires in British Columbia this summer” caused more than $127 million in insured damage, the Insurance Bureau of Canada (IBC) said, quoting Catastrophe Indices and Quantification Inc. (CatIQ). The wildfires around Williams Lake caused close to

News InsuranceMarkets / CoveragesMergers and AqcuisitionsProductsTechnology

belairdirect launches app to reward good drivers in Alberta and B.C.

September 27, 2017 by Canadian Underwriter

belairdirect announced on Tuesday that it is launching a new app to help reward good drivers in Alberta and British Columbia. The automerit app assesses customers’ driving skills, helping them save on their insurance premiums through a discount, while providing

News InsuranceMergers and AqcuisitionsTechnology

Fully online aha insurance launches auto insurance for Ontario market, home insurance “coming soon”

September 26, 2017 by Canadian Underwriter

Waterloo, Ont.-based Ignite Insurance and Ignite Holdings announced on Monday that aha insurance – the online auto and home insurance service – “is available today for the auto insurance market and, coming soon, the home insurance market in Ontario.” aha

News CatastrophesClaimsInsuranceMergers and Aqcuisitions

Hurricane relief around-the-clock: U.S. Department of Defense

September 26, 2017 THE ASSOCIATED PRESS

The U.S. Defense Department was working around the clock to deliver humanitarian assistance to Puerto Rico and the U.S. Virgin Islands, even as the death toll climbed further across the Caribbean after Hurricane Maria. By Monday afternoon, the confirmed toll

News CatastrophesClaimsClimate ChangeMergers and Aqcuisitions

Standard would help enhance flood resilience of new communities: report

September 26, 2017 by Angela Stelmakowich

Research out of the University of Waterloo recommends a Canadian standard for new flood-resilient residential communities, one that employs almost two dozen best practices, be developed to bolster protection and reduce water-related losses. Requiring that new homes not be built

News InsuranceLegalMergers and AqcuisitionsTechnology

Cyber attacks could include ‘extorting a security guard to look the other way,’ RIMS Canada speaker warns

September 25, 2017 Greg Meckbach, Associate Editor

Cyber extortion can take several different forms, including attempts to blackmail employees into giving away sensitive information, and different insurers have different cyber policy wordings to deal with extortion, RIMS Canada Conference speakers suggested Monday. In addition to “plain Jane

News InsuranceLegalMergers and AqcuisitionsTechnology

Deloitte says email cyberattack affected ‘very few clients’

September 25, 2017 The Associated Press (APR)

LONDON – Accounting firm Deloitte says it has launched a thorough investigation into a cyberattack that hit its email system. The company said in a statement Monday that the breach had affected “very few clients” and that government authorities were

News CatastrophesInsuranceMergers and Aqcuisitions

Insured damages exceeds $124 million from Windsor August floods: CatIQ, IBC

September 25, 2017 by Canadian Underwriter

Floods in late August in Windsor, Ont. resulted in more than $124 million in losses to the industry, Insurance Bureau of Canada suggested Monday. “From August 28 – 29, a slow-moving area of low pressure produced significant rainfall over areas

News InsuranceMergers and AqcuisitionsProfessional DevelopmentTechnology

AIG changes organizational structure, adds “standalone technology platform”

September 25, 2017 by Canadian Underwriter

American International Group, Inc. (AIG) announced on Monday that it will transition to General Insurance and Life & Retirement segments, as well as a new “standalone, technology-enabled platform.” AIG said in a statement that it is planning to make changes

News InsuranceLegalLegislation / RegulationMergers and Aqcuisitions

Intact’s acquisition of OneBeacon Insurance Group expected to close this week

September 25, 2017 by Canadian Underwriter

Intact Financial Corporation (IFC) announced on Monday that it has obtained all regulatory approvals required to complete the previously announced proposed acquisition of OneBeacon Insurance Group, Ltd. The acquisition is expected to close on or about Sept. 28, IFC said

News CatastrophesClaimsInsuranceMergers and AqcuisitionsReinsurance

Insured losses from latest Mexico earthquake not expected to exceed US$1.2 billion: RMS

September 25, 2017 by Canadian Underwriter

Low insurance penetration rates across Mexico, particularly in residential lines, has prompted RMS to issue a preliminary estimate that insured losses from the Puebla earthquake in central Mexico on Sept. 19 will not exceed US$1.2 billion. “This estimate accounts for