Canadian Underwriter

Topic
Reinsurance


World map with natural disaster icons
News CatastrophesClaimsClaims CanadaClimate ChangeCommercial LinesInsuranceMarkets / CoveragesReinsuranceRestoration

Will the multi-billion-dollar Cat loss trend continue indefinitely?

March 22, 2023 by Jason Contant

Global insured losses from natural catastrophes reached US$125 billion in 2022, the second consecutive year in which insured losses from NatCats exceeded US$100 billion, according to the latest sigma study from Swiss Re Institute. And it looks like this trend

News InsuranceReinsurance

Monica Ningen | Swiss Re Canada

March 13, 2023 by Alyssa DiSabatino

Monica Ningen, President, CEO, Swiss Re Canada and the English Caribbean Mentorship and sponsorship are key ways to bring women and diversity into the P&C insurance industry’s leadership positions, says Monica Ningen, president and CEO of Swiss Re’s Canada operations. 

Swiss Re Canada president and CEO Jolee Crosby
News AnnouncementsAppointmentsInsuranceReinsurance

Swiss Re’s new Canadian president and CEO

February 21, 2023 by Alyssa DiSabatino

Jolee Crosby has been appointed president and CEO of Swiss Re Canada & English Caribbean and will succeed Monica Ningen, who has been named CEO of U.S. P&C Reinsurance at Swiss Re. Both roles are effective July 1.   Crosby

Earthquake seismograph pattern
News AssociationsCatastrophesClaimsClimate ChangeInsuranceReinsuranceRisk

What a Canadian public earthquake backstop might look like

January 31, 2023 by David Gambrill

A federal government backstop designed to help private insurers cover high-risk flooding could be extended to protect Canadians from earthquake risk as well, Canada’s home, car and business insurers suggested in a release Tuesday. Meanwhile, in the absence of a

Profitability trending toward positive
News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Why P&C industry profitability is trending toward positive

January 23, 2023 by Jason Contant

Canada’s property and casualty insurers should see increased overall profitability and premium rate increases as the industry’s 2023 outlook trends to positive, ratings firm DBRS Morningstar said in a new report. “The credit rating trend for the majority of DBRS

Lighthouse in a hurricane
News CatastrophesClaimsCommercial LinesConstructionInsuranceMarkets / CoveragesReinsurance

What’s driving reinsurer underwriting margins in 2023?

January 16, 2023 Philip Porado

Underwriting margins for reinsurers will likely grow by an average four percentage points during 2023, said a new report from Fitch Ratings. Key factors for the increases are significant price rises, tighter terms and conditions, as well as the withdrawal

Shot of a stressed businesswoman with headache in the office.
News BrokersCatastrophesClaimsClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesReinsuranceRisk

Hard market “fatigue” setting in, P&C industry survey suggests

January 12, 2023 by David Gambrill

Hard market fatigue is starting to become an issue for Canada’s property and casualty insurance industry, and several industry professionals are worried ongoing capacity and pricing issues could invite government intervention down the road. “We will continue to have many

Open for business sign
News AnnouncementsBrokersInsuranceReinsurance

Swiss Re starts 2023 with new name in Canada

January 3, 2023 Canadian Underwriter Staff

A new year, a new name. Swiss Re Corporate Solutions received regulatory approval from the Office of the Superintendent of Financial Institutions (OSFI) to establish a Canadian branch of Swiss Re Corporate Solutions America Insurance Corporation (SRCSAIC). The new branch

White icon of "Dollar increase" in a flat design style isolated on a gray background and with a long shadow effect.
News CatastrophesInsuranceReinsurance

Why your reinsurance bills are up this year

January 3, 2023 Alyssa Di Sabatino

January 1 reinsurance renewals are proving to be “one of the most challenging reinsurance markets” the insurance sector has experienced, says Guy Carpenter, a Marsh McLennan global risk and reinsurance specialist firm. Property insurers in particular can expect rates to escalate due

A clock with ticking red hands in front of a background of binary code rushing around the screen
News BrokersCatastrophesCommercial LinesInsuranceReinsurance

What do January reinsurance renewals have in store for property insurers?

December 5, 2022 by Alyssa DiSabatino

With January’s reinsurance renewal period quickly approaching, the impact of major cat events on property insurers remains to be seen, said a new report from Navacord brokerage Lloyd Sadd.  Catastrophic losses are making leading property insurers selective about the amount

Hurricane Ian
News CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

What reinsurance renewals could look like on Jan. 1

November 23, 2022 by David Gambrill

Global reinsurers are expected to raise property catastrophe rates “by well over 10%” in exposed areas during January 2023 renewals, a Fitch Ratings report stated. “We expect double-digit percentage premium rate rises for property catastrophe cover in 2023 driven by

sea coast houses bracing for a hurricane
News AdjustersBrokersCatastrophesClaimsClaims CanadaClimate ChangeConstructionInsuranceMarkets / CoveragesReinsuranceRestorationRisk

How hurricane losses will impact pricing and capacity

November 21, 2022 Philip Porado

Watch for Hurricane Ian’s damage estimates of between US$50 billion and US$70 billion to made insurers more conservative about pricing and capacity, according to Aon’s global market insights for 2022 Q3. “As the full market impacts of Hurricane Ian materialize,”