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U.S. D&O insurance pricing pressure to dampen performance: Fitch

April 13, 2016 by Canadian Underwriter

Market conditions are evolving in the directors’ and officers’ (D&O) liability insurance market in the United States, with merger and acquisition activity in 2015 facilitating greater market concentration, according to a new report from Fitch Ratings. The report, titled U.S.

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Forecasting emerging risks expected to get tougher: Marsh/RIMS report

April 11, 2016 by Angela Stelmakowich, Editor

SAN DIEGO – Cyber attacks – once again identified as a top critical business risk – are expected to be a source of emerging risks, but forecasting for all emerging risks could prove more challenging over the next three years,

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ISO to collect cyber insurance data to help mitigate risk related to cyberattacks

April 6, 2016 by Canadian Underwriter

ISO, a Verisk Analytics business, announced on Wednesday that it will collect, aggregate and analyze cyber insurance data to help address a major issue facing today’s cyber insurance market: the need for more detailed underwriting and rating information. ISO said

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Canada’s p&c industry sees big jump in underwriting income, big drop in nat-cat losses in 2015: IBC

April 6, 2016 by Angela Stelmakowich

Despite the challenges and fluctuations of 2015 – including plummeting oil prices – Canada’s property and casualty industry “had a relatively good year,” with underwriting income tripling to about $1.7 billion, David McGown, senior vice president of strategic initiatives for

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Global reinsurer capital down 2% in 2015 relative to 2014: Aon Benfield

April 4, 2016 by Canadian Underwriter

Global reinsurer capital stood at US$565 billion at Dec. 31, 2015, a reduction of 2% relative to the end of 2014, according to the latest edition of the Aon Benfield Aggregate (ABA) report. Aon Benfield, the global reinsurance intermediary and

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Reinsurance demand uptick despite price softening, reinsurers may not grant more concessions: Willis Re

April 4, 2016 by Canadian Underwriter

Encouraging signs for reinsurers are coming to light despite reinsurance rates falling for the fourth consecutive year at the Apr. 1, renewals, suggests Willis Re suggests in its latest 1st View Reinsurance Renewals report. “Amidst a gloomy picture of sustained

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Cyber risk, interest rates, economy remain major concerns for insurers: A.M. Best

March 28, 2016 by Canadian Underwriter

Concerns regarding cyber risk, interest rates and the economy remain prominent among insurers, according to the latest quarterly survey from A.M. Best Company. The Best’s Special Report, released on Thursday, included several hundred responses, representing property and casualty (70.4%), life

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Link between oil price reduction, increase in major incidents: Marsh

March 24, 2016 by Canadian Underwriter

Energy firms are facing challenges, including falling revenues, but are encouraged to maintain their investment in risk management to reduce the potential for future major incidents and insurance claims, suggests a new research report from global insurance broker and risk

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Low interest rates, alternative capital driving industry consolidation in insurance: A.M. Best

July 20, 2015 by Canadian Underwriter

An influx of alternative capital into the reinsurance market, low interest rates and a desire for geographic expansion are among the factors driving mergers and acquisitions in the insurance industry, A.M. Best Company Inc. suggested in a recent report. “A.M.

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PartnerRe improves terms of proposed merger with Axis Capital

July 17, 2015 by Canadian Underwriter

In an effort to encourage shareholders to support a merger with Axis Capital Holdings Ltd., PartnerRe Ltd. announced Thursday it is offering to increase, by 52%, a special dividend that PartnerRe shareholders would get in the event of such a

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Over 50% of large financial service institutions surveyed plan to invest at least US$200 million to address global structural reform regulations: Accenture

July 14, 2015 by Canadian Underwriter

More than half of large financial service institutions surveyed for a new report by Accenture expect to invest at least US$200 million on projects to overhaul how they do business to address global structural reform (GSR) regulations this year, with

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ACE-Chubb combo would be ‘significant player’ in Canadian personal insurance: MSA

July 9, 2015 by Canadian Underwriter

If ACE Ltd.’s US$28.3-billion proposal to acquire insurance carrier The Chubb Corp. is approved, the combined firm would be a “significant player,” in Canada, in the market for high net worth consumers and would also “present a challenge” to the