Canadian Underwriter

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Reinsurance


News CatastrophesInsuranceMarkets / CoveragesReinsurance

FEMA announces first-ever reinsurance agreement under NFIP

September 22, 2016 by Canadian Underwriter

The Federal Emergency Management Agency (FEMA) announced on Thursday its first-ever reinsurance agreement under the National Flood Insurance Program (NFIP). The agreement will allow the NFIP to share flood risk with private reinsurance companies to help defray the cost of

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Lloyd’s reports 1.46 billion pound profit for first half of 2016, combined ratio up 8.5 points to 98%

September 22, 2016 by Canadian Underwriter

Despite seeing a “major claims increase due primarily to the Fort McMurray fires in Alberta, Canada” and a challenging market environment, Lloyd’s of London has reported a profit of 1.46 billion pounds – or nearly $2.5 billion – for the

News InsuranceLegislation / RegulationMarkets / CoveragesReinsurance

Canada Pension Plan Investment Board to acquire Lloyd’s syndicate Ascot Underwriting for US$1.1 billion

September 16, 2016 by Canadian Underwriter

The Canada Pension Plan Investment Board (CPPIB) announced on Friday that it has signed an agreement with American International Group (AIG) to acquire 100% of Ascot, AIG’s Lloyd’s platform, for a “total consideration” of US$1.1 billion. The CPPIB said in

News CatastrophesClimate ChangeConstructionEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Change in exposure driving widening gap between insured, economic losses following disaster events

September 14, 2016 by Angela Stelmakowich

CALGARY – A dramatic loss scenario around disaster events is developing globally, contributing to a widening gap between insured and economic losses, Alex Kaplan, senior vice president of global partnerships for Swiss Re, suggested earlier this week during the RIMS

News InsuranceMarkets / CoveragesReinsurance

Weakening reinsurance environment leaving more reinsurers vulnerable to takeover in 2017: Fitch

September 13, 2016 by Canadian Underwriter

Weak profitability is likely to leave more reinsurers worldwide vulnerable to takeover in 2017, reinvigorating mergers and acquisitions (M&A) activity as healthier firms seek growth and efficiency savings, Fitch Ratings said on Monday. Consolidation in the sector has stalled after

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Index-linked insurance helps reduce adverse selection: Swiss Re

September 13, 2016 by Canadian Underwriter

A reinsurance program can help mutual insurers free up funds that can be spent elsewhere, while index-based insurance can help provide coverage for business interruption not caused by property damage – such as software and electrical power failures – Swiss

News CatastrophesInsuranceMergers and AqcuisitionsReinsuranceTechnology

Resiliency plans increasingly important, plans will never be perfect

September 13, 2016 by Angela Stelmakowich

CALGARY — Resiliency plans are unlikely to ever be perfect, but they are an increasingly important element of an organization’s response to crises, two speakers who as individuals and members of their companies were intimately affected by the 9/11 terror

News CatastrophesClimate ChangeInsuranceProfessional DevelopmentReinsurance

Resilience should be a goal of all organizations

September 12, 2016 by Angela Stelmakowich

CALGARY — Darius Delon, chair of the RIMS Canada Council, had a very simple message for those attending the annual conference in Calgary Monday: every organization can be hit by disaster, so every organization needs to be resilient. Scenario brainstorming,

News Earnings / RatingsInsuranceMarkets / CoveragesReinsuranceTechnology

Technology driving long-term transformation of the insurance industry; price levels expected to stabilize: Swiss Re

September 12, 2016 by Canadian Underwriter

Technological developments will profoundly change the way in which the re/insurance industry develops, distributes, underwrites and administers the insurance protection it sells to consumers, Swiss Re said on Monday. New technologies such as cognitive and cloud computing as well as

News CatastrophesInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Reinsurance cession ratio across global P&C industry registers small rise for first time in several years: Aon Benfield

September 12, 2016 by Canadian Underwriter

Reinsurance demand has increased over the past 18 months, with the cession ratio across the global property and casualty insurance industry registering a small rise for the first time in several years, according to Aon Benfield’s September 2016 edition of

News InsuranceMarkets / CoveragesReinsurance

Reinsurers ‘more willing’ to decline participation where demands from cedents are too great: Guy Carpenter

September 9, 2016 by Canadian Underwriter

As investment returns remain low and with recent drops in renewal pricing, reinsurance carriers are resisting “aggressive buying tactics” on the part of cedents, Guy Carpenter & Company LLC suggested in an article published Friday. “From a buying perspective, while

News CatastrophesInsuranceMarkets / CoveragesReinsurance

“Significantly lower” cat bond issuance volumes during the first half of 2016 compared to prior-year period: Aon Securities

September 9, 2016 by Canadian Underwriter

Twenty-four catastrophe bond transactions closed during the 12-month period to June 30, 2016, with a total limit of US$5.2 billion, a decrease on the prior-year period of US$7 billion, according to Aon Securities’ annual report on the insurance-linked securities sector.