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Reinsurance

News InsuranceReinsuranceTechnology

How blockchain can help fight insurance fraud

September 24, 2018 by Jason Contant

Blockchain for insurance has various oft-touted benefits – reduced costs and simpler and faster transactions, among them – but it can also be used to combat fraud, said David Verbeeten, a domain expert in insurance at software company ConsenSys. Verbeeten

News InsuranceReinsuranceRisk

Will Hurricane Florence affect reinsurance rates in Canada?

September 12, 2018 by Jason Contant

As the southeastern United States braces for Hurricane Florence – one year after Hurricanes Harvey, Irma and Maria caused widespread destruction in the country – the question of whether there is sufficient reinsurance capacity is again thrust into the spotlight.

News InsuranceMarkets / CoveragesReinsurance

This reinsurer says rates need to go up

September 10, 2018 by Jason Contant

Underwriting margins will need to improve by at least six to nine points in major western markets to deliver sustainable returns, according to the latest sigma report from global reinsurer Swiss Re. The report Profitability in non-life insurance: mind the

News Mergers and AqcuisitionsReinsurance

Aspen Insurance agrees to be taken private

September 1, 2018 by Greg Meckbach

Aspen Insurance Holdings Ltd., which writes risks in Canada, has tentatively agreed to be bought for US$2.6 billion. If the deal closes, Hamilton, Bermuda-based Aspen will be owned by private equity firm Apollo Global Management LLC of New York City.

News Mergers and AqcuisitionsReinsurance

Major consolidation this year in reinsurance industry?

July 31, 2018 by Greg Meckbach

Mergers and acquisitions will likely be a topic of discussion for mid-market reinsurers, executives with a large European reinsurer suggest. Efforts by large reinsurers to improve productivity will put “more pressure” on mid-sized and smaller reinsurers “to have this strategic

News InsuranceMarkets / CoveragesReinsuranceTechnology

The trick to getting blockchain to work for insurance

July 30, 2018 by Jason Contant

The trick to getting blockchain to work in the insurance space is getting all the players in the market to align and agree on common standards and a way to govern the blockchain, Aon Benfield’s chief information officer said Friday.

News Reinsurance

Cyber criminal interest in electrical utilities on the rise

July 16, 2018 by Greg Meckbach

Electrical and utility firms in North America continue to be a target for cyber criminals, the head of a cyber loss modelling provider suggests. Over the past few months, there has been an “uptick in threat actor activity around energy

News AnnouncementsMergers and AqcuisitionsReinsurance

Reinsurer with Toronto office could become publicly traded

June 28, 2018 by Greg Meckbach

Sirius International Insurance Group Ltd., which sells reinsurance in Canada through a Toronto office, will be publicly traded if a tentative merger agreement announced Monday is approved. Bermuda-based Sirius was sold in 2016 by White Mountains Insurance Group Ltd. to

News InsuranceLegislation / RegulationReinsurance

The downside of being an insurtech trailblazer

June 18, 2018 by Greg Meckbach

The spectre of a Netflix-esque disruption of the property and casualty insurance sector is producing mixed reaction among Canadian executives. The Canadian P&C sector “may be” disrupted in a manner similar to how Netflix disrupted the movie rental industry or

News InsuranceMarkets / CoveragesReinsurance

Government-backed home flood insurance coming to Canada?

June 3, 2018 by Greg Meckbach

Federal government officials are pondering a flood insurance system similar to Britain’s two-year old Flood Re, an Insurance Bureau of Canada official suggested Thursday. Federal public safety minister Ralph Goodale “asked IBC to lead a working that will deliver recommendations

Feature ClaimsReinsurance

What’s New in Nuclear Claims Handling

June 3, 2018 David Gambrill, Editor-in-Chief

A pool of Canadian nuclear insurers has created a state-of-the-art, made-in-Canada claims administration system for handling nuclear incidents.

News InsuranceReinsurance

Why open reinsurance markets are best for Canada

April 30, 2018 by Greg Meckbach

With the lion’s share of Canadian insurers’ reinsurance coming from outside of Canada, protectionism in the insurance space would not be good for consumers, a lawyer told Canadian Underwriter last week. Some nations – including Thailand, India, China – have