As both personal and commercial markets continue to show signs of hardening, Intact Financial Corporation will not pursue growth by lowering rates as 2019 approaches. “We’re not chasing growth by lowering rates as we move into 2019,” Darren Godfrey, Intact’s…
Commercial auto losses have been worse than expected for The Travelers Companies Inc., and company officials are not exactly sure why. “It’s a line that has been challenged from a profitability perspective for a while,” Travelers chairman and CEO Alan…
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…
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.…
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…
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.…
Shopping around for the best deal for a business client may be getting more difficult as commercial lines prices start to uptick. Among commercial insurers, “it seems there is a little bit of tightening up on the risk appetite,” Raymond…
Aviva Canada is diversifying its portfolio of business to avoid exposure to deteriorating conditions in Ontario’s auto insurance market. “When you look at Aviva’s business in Canada, there’s a heavy concentration in Ontario auto,” Aviva Canada president and CEO Colm…
Ontario’s premium rates are rising the fastest among Canada’s private passenger auto insurance regimes, according to the Q2 2018 Auto Insurance Price Index from LowestRates.ca. A measure of only private passenger auto insurance regimes in Canada, the index from the…
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…
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.…
When it comes to auto insurance premiums in Canada, drivers in British Columbia pay the most, followed by Ontario, data supplied by Insurance Bureau of Canada (IBC) revealed Wednesday. In B.C. last year, average annual auto premiums were $1,680. The…