Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s strong support for the federal government’s move to beef up investments aimed at enhancing resilience by better disaster-proofing communities. As part of the 2017 Federal Budget tabled Wednesday,…
The Canadian property and casualty insurance industry saw solid results for both direct premiums written (DPW) and net premiums written (NPW) in 2016, but that was countered by big decreases in both net income and underwriting income, note new figures…
MSA Research Inc. (MSA) announced on Monday that it will carry exclusively the insurer ratings of DBRS Ltd. on its MSA Research Platform and printed reports. With this partnership, up-to-date ratings from DBRS will now be available at the fingertips…
JLT Re, the global provider of reinsurance broking and consultancy and part of Jardine Lloyd Thompson Group plc, announced on Monday that it has combined forces with flood modelling company KatRisk to provide flood risk modelling capabilities to clients “across…
Severe convective storms (SCS) posed as much risk to property in the United States as hurricanes between 2003 and 2015, with the average annual loss from SCS amounting to US$11.23 billion compared to US$11.28 billion from hurricanes. So concludes a…
The lion’s share of insurance companies taking part in a KPMG International-commissioned survey plan to make acquisitions in 2017, with most respondents saying their companies are being driven by need to transform business and operating models. The insurance sector looks…
Lloyd’s reports that a partnership with modelling company Arium has produced a data-driven methodology that will allow (re)insurers to model liability risk exposure probabilistically across entire portfolios. The approach – the result of a three-year project between Lloyd’s and Arium…
Munich Re is looking to set up partnerships that would previously not have been considered, the company reported this week in announcing the group operating result fell 16.5% to 4,025 million euros in 2016 compared to 4,819 million euros in…
Insurance Bureau of Canada (IBC) has voiced the property and casualty industry’s continued support for efforts by the federal government to enhance disaster risk reduction and make communities more resilient. “Our industry remains committed to being a full partner with…
Aviva plc announced a 0.8-point increase in its combined ratio in Canada while operating profit was up 16%. London-based Aviva released March 9 its preliminary results for 2016. General insurance net premiums written, worldwide, increased 15%, from £7.177 billion in…
Fairfax Financial Holdings Limited and Allied World Assurance Company Holdings jointly announced Friday that the former has exercised its option to increase the cash consideration component of its US$4.9 billion cash and stock offer to Allied World shareholders. In exercising…
The largest single loss for Hannover Re last year was the Fort McMurray wildfire, with a “net strain” of 127.9 million euros, the reinsurer reported on Thursday. Hannover Re released its financial results on Thursday, reporting a Group net income…