Canadian Underwriter

Topic
Reinsurance

Feature Reinsurance

OSFI’s ticking time bomb

November 1, 2019 David Gambrill, Editor in Chief

Canada’s solvency regulator and the property and casualty insurance industry are working to defuse a potentially explosive situation – one that could
see global reinsurance capital fleeing from Canada. What will be the outcome of this ticking regulatory time bomb?

News InsuranceLegislation / RegulationReinsurance

OSFI, industry step back from the brink on proposed new reinsurance rules

October 29, 2019 by David Gambrill

It appears that there has been a proverbial “last-minute call from the governor” regarding controversial new rules proposed by Canada’s solvency regulator as part of its reinsurance review. The Office of the Superintendent of Financial Institutions (OSFI) has made it

News Climate ChangeInsuranceReinsurance

Large reinsurer to stop writing oil sands business: Memo

October 15, 2019 by Greg Meckbach

Concerns about climate change from human-produced greenhouse gas emissions may have prompted the world’s largest property and casualty reinsurer to stop writing some business for oil sands sites, according to an unverified document obtained by Canadian Underwriter. Facultative reinsurance covers

News InsuranceReinsurance

How reinsurers benefit from the market turn

October 9, 2019 by Jason Contant

With primary insurance companies seeking higher rates since the beginning of the year, proportional reinsurance programs are benefiting directly from these rate improvements, Joseph El-Sayegh, president and CEO of SCOR Canada Reinsurance Company, told Canadian Underwriter Wednesday. In proportional reinsurance,

News InsuranceReinsurance

Twenty more years of low interest rates? What that and a recession will mean for Canadian P&C insurers

October 4, 2019 by David Gambrill

If P&C insurers are looking to use their investment returns to offset inadequate pricing strategies, Swiss Re has a chilling prediction for them – low interest rates could be with us for another 20 years or longer. Jerome Jean Haegeli,

News InsuranceReinsurance

What concerns the Ontario regulator about OSFI’s proposed reinsurance guidelines

October 3, 2019 by Jason Contant

The CEO of Ontario’s new regulator expressed concern Tuesday about the extent to which the P&C insurance industry says it will be required to provide more capital to comply with the proposed new reinsurance guidelines of Canada’s solvency regulator. The

News InsuranceReinsuranceRisk

$30-billion sticker shock for OSFI’s proposed reinsurance rules

September 24, 2019 by David Gambrill

Canada’s property and casualty industry would have to post an additional $21 billion to $30 billion in capital to insure Canadian risks if the country’s solvency regulator moves forward with proposed new rules as currently drafted, the industry warns. On

News InsuranceReinsurance

Where Canada’s resilience to economic shock ranks globally

September 10, 2019 by Jason Contant

The global economy now has less capacity to absorb a shock than it did in 2007 (pre-global recession), but Canada is faring well – it is the second-most economic resilient country in world, according to the Swiss Re Institute. In

News InsuranceReinsurance

Sign of the times: Why this bank bailed out of P&C reinsurance

August 28, 2019 by David Gambrill

Buffeted by severe weather claims, the Bank of Montreal has decided to exit the property and casualty reinsurance side of the business, BMO announced during a conference call Tuesday. “In Q4 of last year, we said we were reviewing ways

News InsuranceReinsurance

Why Swiss Re says insurance profitability will remain ‘under pressure’

July 5, 2019 by Greg Meckbach

Expect the low-interest-rate environment to continue for at least two more years, Swiss Re warned Thursday. “Insurers will continue to operate in a low-interest-rate environment for the next two years at least, meaning that industry profitability will remain under pressure,”

News InsuranceLegislation / RegulationMarkets / CoveragesReinsurance

How to make earthquake insurance sexy

June 28, 2019 by Jason Contant

Quebec’s financial regulator, the Autorité des marchés financiers (AMF), is working with the property and casualty insurance industry to make the earthquake insurance product more attractive to insurers, brokers and consumers. In its 2017-2020 Strategic Plan released Thursday, AMF said

News AppointmentsInsuranceReinsurance

Munich Re Canada appoints new president and CEO

May 14, 2019 by Jason Contant

Munich Reinsurance Company of Canada and Temple Insurance Company (a part of Munich Re) has appointed Claus-Ulrich Kroll as president and CEO of both companies. In his new role, Kroll will be responsible for the operation of all of Munich