Topic
Reinsurance
Part of the Whole
November 27, 2017 by Canadian UnderwriterThe global natural catastrophe story for 2017, one that could tell the tale of the largest related losses in history, shows how interconnected each country’s reinsurance market is to the global whole. Reinsurers operating in Canada are advised that, this time around, being part of the whole may demand rethinking risk, pricing and partners.
P&C job losses of 30-40% within 10 years: RSA Canada CEO
November 15, 2017 David Gambrill, Editor-in-ChiefTechnological automation is going to significantly change the composition of Canada’s property and casualty insurance industry, reducing the workforce by up to 40% within the next five to 10 years, predicts RSA Canada president and CEO Martin Thompson. Speaking at…
New Editor-in-Chief for Canadian Underwriter as veteran journalist David Gambrill returns
November 13, 2017 Canadian UnderwriterTORONTO, Nov. 13, 2017 /insPRESS/ – Newcom Business Media Inc. is pleased to announce the appointment of David Gambrill as Editor-in-Chief of Canadian Underwriter. “David is an award-winning writer and editor who’s arguably Canada’s most experienced and knowledgeable insurance journalist,”…
Hannover Re records Group net income of 549 million euros in Q3 despite substantial nat cat losses
November 9, 2017 by Canadian UnderwriterHannover Re reported on Wednesday a Group net income of 548.9 million euros for the third quarter of the year ending Sept. 30, despite an above-average burden of catastrophes losses. The Group net income was down from 791.9 million euros…
Hurricanes, earthquakes contribute to Group 9M net loss of US$468 million for Swiss Re
November 3, 2017 by Canadian UnderwriterSwiss Re has reported a Group net loss of US$468 million for the first nine months of 2017, reflecting the US$3.6 billion expected insurance claims from Hurricanes Harvey, Irma and Maria, and the Mexico earthquakes. Property & Casualty Reinsurance’s and…
Aspen reports net loss after tax of US$253.8 million for Q3
October 31, 2017 by Canadian UnderwriterHamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a net loss after tax of US$253.8 million for the third quarter of 2017 compared to net income of US$95.6 million in the same quarter last year. “The third quarter was characterized…
Cats a significant driver in Everest Re Group’s posting US$639.4 million net loss in 2017 Q3
October 31, 2017 by Canadian UnderwriterLosses from hurricanes Harvey, Irma, Maria (HIM) and the Mexico City earthquake contributed to Everest Re Group, Ltd. posting a US$639.4 million net loss for 2017 Q3 compared to net income of US$295.4 million for the prior-year quarter. For the…
Axis Capital records Q3 combined ratio of 156.9%, $617 million in cat losses
October 31, 2017 by Canadian UnderwriterAxis Capital Holdings Ltd. has had a 60-point deterioration in its third-quarter combined ratio, with US$576 million in pre-tax net losses, net of reinstatement premiums from three hurricanes alone, the Bermuda-based insurer announced. Pembroke, Bermuda-based Axis Capital, which has a…
Hurricanes, Mexico earthquakes cost SCOR 430 million euros in Q3
October 26, 2017 by Canadian Underwriter“An exceptional series of large natural catastrophes, with Hurricanes Harvey, Irma and Maria and earthquakes in Mexico,” has led to a cost of 430 million euros, net of retrocession and tax, for SCOR SE for the third quarter of the…
Hurricanes expected to deliver 1.4 billion euro hit to Munich Re in third quarter, total tally estimated at 2.7 billion euros
October 26, 2017 by Canadian UnderwriterExceptional major-loss expenditure related to hurricanes Harvey, Irma and Maria (HIM) are expected to result in Munich Re posting a loss of 1.4 billion euros in 2017 Q3, reducing the (re)insurer’s previously anticipated full-year profit. Emphasizing that current estimates “are…
Reinsurance sector strongly positioned to deal with potential record-breaking losses of 2017: JLT Re
October 25, 2017 by Canadian UnderwriterAfter five years of below-average loss experience, 2017 looks set to become the “most expensive catastrophe loss year ever for the P&C sector,” but reinsurers’ existing capital base is sufficient to service the bulk of losses sustained so far, a…
P&C combined ratio for XL Group up to 146.9% in third quarter
October 25, 2017 by Canadian UnderwriterXL Group Ltd. has reported a P&C combined ratio of 146.9% for the third quarter of 2017 ending Sept. 30, as natural catastrophe losses largely attributed to Hurricanes Harvey, Irma and Maria took their toll. Excluding prior-year development and nat…