Topic Insurers
Reinsurance demand uptick despite price softening, reinsurers may not grant more concessions: Willis Re
April 4, 2016 by Canadian UnderwriterEncouraging 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…
Cyber risk, interest rates, economy remain major concerns for insurers: A.M. Best
March 28, 2016 by Canadian UnderwriterConcerns 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…
Link between oil price reduction, increase in major incidents: Marsh
March 24, 2016 by Canadian UnderwriterEnergy 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…
Low interest rates, alternative capital driving industry consolidation in insurance: A.M. Best
July 20, 2015 by Canadian UnderwriterAn 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.…
PartnerRe improves terms of proposed merger with Axis Capital
July 17, 2015 by Canadian UnderwriterIn 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…
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 UnderwriterMore 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…
ACE-Chubb combo would be ‘significant player’ in Canadian personal insurance: MSA
July 9, 2015 by Canadian UnderwriterIf 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…
Fairfax Financial Holdings completes acquisition of Brit PLC
July 9, 2015 by Canadian UnderwriterToronto-based Fairfax Financial Holdings Limited announced Wednesday that it has completed its cash tender offer to shareholders of Brit PLC. Fairfax – a holding company that, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment…
Moody’s affirms debt ratings of ACE Group with stable outlook
July 3, 2015 by Canadian UnderwriterMoody’s Investors Service has affirmed the A3 senior debt rating of ACE INA Holdings Inc. with a stable outlook following the announcement that ACE has agreed to acquire all outstanding shares of The Chubb Corporation for approximately US$28.3 billion. ACE…
Reinsurance mergers ‘helping to maintain’ high valuations: Willis Re
July 2, 2015 by Canadian UnderwriterMergers and acquisitions in the reinsurance sector are “throwing up unexpected combinations” while the market for offshore energy wind reinsurance, in the Gulf of Mexico, is softening, the reinsurance division of Willis Group Holdings plc suggested in a report released…
ACE Limited to acquire Chubb for US$28.3 billion
July 1, 2015 by Canadian UnderwriterACE Limited and The Chubb Corporation announced on Wednesday that the boards of directors of both companies have unanimously approved a definitive agreement under which ACE will acquire Chubb. The total value of the acquisition is about US$28.3 billion in…
Consolidation fuelling reinsurers’ desire to grow and diversify in U.S.
June 30, 2015 by Canadian UnderwriterReinsurers seem to feel the need to grow and diversify, but the current wave of consolidation presents its own challenges, attendees heard during a recent Casualty Actuarial Society (CAS) reinsurance seminar in Philadelphia. Meyer Shields, managing director of Keefe, Bruyette…