Canadian Underwriter


News CatastrophesInsurance

Cyber insurance growth expected to triple in a few years, rapid rise would be credit-negative: Fitch Ratings

March 22, 2016 by Canadian Underwriter

While cyber insurance growth is clearly on the rise – with 2015’s estimated US$3 billion in premiums possibly tripling in four years – the rapid expansion into standalone offerings brings with it concern the move could be credit-negative, suggests a

News Insurance

Competition drives ‘declining insurance pricing’ in many U.S. segments: Fitch

March 16, 2016 by Canadian Underwriter

The combined ratio for a group of insurance firms tracked by Fitch Ratings Inc. deteriorated 1.1 points from 93.4% in 2014 to 94.5% in 2015, Fitch reported Tuesday. “Fitch’s universe of 45 (re)insurance organization reported an aggregate a 7.2% decline

News Insurance

Commercial insurance prices in most lines dropped year-over-year ‘in low single digits’ in Q4: Willis Towers Watson

March 14, 2016 by Canadian Underwriter

The change in commercial insurance prices from the fourth quarter of 2014 to the fourth quarter of 2015 were “nearly flat,” Willis Towers Watson plc reported Monday. London-based Willis Towers Watson released its Commercial Lines Insurance Pricing Survey (CLIPS), which

News Insurance

A.M. Best issues revised core credit rating methodology, requests comments

March 10, 2016 by Canadian Underwriter

A.M. Best Company on Thursday published proposed revisions to its core credit rating methodology, Best’s Credit Rating Methodology (BCRM). At the same time, the ratings firm has released proposed revisions for the criteria procedure for the United States property and

News Insurance

Distress, divestments to dominate mining deals in 2016 after Canadian transactions hit 10-year low

March 8, 2016 by Canadian Underwriter

Financial stress among Canadian mining and metals companies drove transactions to a decade-long low in 2015 and that environment is expected to shape the sector’s merger and acquisition (M&A) activity in 2016, Ernst & Young suggests in a recent report.

News InsuranceMergers and Aqcuisitions

Underwriting drives U.S. regional P&C insurer returns: Fitch

March 7, 2016 by Canadian Underwriter

Pricing improvements over several years in underwriting portfolios have propelled returns for regional property and casualty insurers in the United States, credit ratings and research company Fitch Ratings said on Friday. The ability to implement further pricing actions in a

News InsuranceMergers and Aqcuisitions

U.S. P&C industry expected to post third consecutive underwriting profit in 2015, despite slight deterioration in combined ratio: A.M. Best

February 23, 2016 by Canadian Underwriter

The property and casualty industry in the United States is expected to produce a third consecutive underwriting profit in 2015, despite a slight deterioration in the combined ratio as rate increases slow and the level of favourable loss reserve development

News CatastrophesInsuranceMergers and Aqcuisitions

Combined ratio for U.S. p&c to increase 1.2 points in 2016: A.M. Best

February 19, 2016 by Canadian Underwriter

The combined ratio will rise from 98% in 2015 to 99.2% for the property and casualty insurance industry in the United States, while for the U.S. and Bermuda reinsurance industry, the combined ratio will deteriorate by 6.7 points, A.M. Best

News Insurance

Canada witnessing dramatic economic shake-up: Bank of Montreal vice president

January 30, 2016 Jason Contant, Online Editor

Canada is not necessarily in a recession, but the country is experiencing a dramatic shake-up of where economic growth is coming from, the Bank of Montreal’s vice president and senior economist said on Thursday. “We’re looking at, for example, almost

News Insurance

Bermuda (re)insurance M&A likely to persist, ratings outlook for U.S. p&c and global reinsurance stable

January 28, 2016 by Canadian Underwriter

The pace will slow from 2015, but mergers and acquisitions (M&A) activity and consolidation in the Bermuda insurance market will continue in 2016, notes a new report issued this week by Fitch Ratings. “Organic growth options are limited and scale

News InsuranceMergers and Aqcuisitions

Ratings of AIG, its insurance subsidiaries under review with negative implications: A.M. Best

January 28, 2016 by Canadian Underwriter

A.M. Best has placed under review with negative implications the issuer credit rating (ICR) of American International Group, Inc. and the financial strength ratings (FSR) and ICRs of its insurance subsidiaries. “The under review status reflects the strengthening of loss

News Insurance

Energy, metals & mining issuers placed on review for downgrade: Moody’s

January 25, 2016 by Canadian Underwriter

The ratings outlook for 120 oil & gas and 55 mining companies is being reconsidered, with Moody’s Investors Service announcing Friday that it has placed the ratings on review for downgrade. The reviews “reflect a mix of declining prices that