Keyword
Ratings/Research
A.M. Best gives Lloyd’s positive outlook from stable
July 19, 2013 by Canadian UnderwriterRating agency A.M. Best has revised the outlook for Lloyd’s from stable to positive, based on the market’s strong operating performance in spite of a high number of natural catastrophes in recent years. Lloyd’s now has a financial strength rating…
American P&C insurers face risk regardless of interest rate direction: Moody’s
July 11, 2013 by Canadian UnderwriterInsurers in the United States are facing a risk regardless of which way interest rates are moving, Moody’s Investors Service said Thursday. The recent rise in rates in the U.S. has highlighted a key risk for the property and casualty…
Bureaucracy named top problem when doing business in Canada: report
July 10, 2013 by Canadian UnderwriterGovernment inefficiency and an environment not conducive to innovation are among the top issues Canadian executives view as barriers to doing business here, according to new research from the Conference Board of Canada. Generally, Canada is a good place to…
Business interruption to drive insured losses from Alberta floods
July 8, 2013 by Canadian UnderwriterBusiness interruption claims will a major driver of insured losses following the recent severe flooding in Alberta, according to one A.M. Best analyst. For optional flood coverage in commercial lines, the rating agency believes there is about a 75% take-up…
Insurance organizations using ‘antiquated’ communications tech: report
June 28, 2013 by Canadian UnderwriterMany insurance companies aren’t supporting modern communications in their businesses and for interacting with customers, despite many saying such multichannel communication is a priority, according to a report sponsored by GMC Software Technology. The survey of 90 insurance organizations, conducted…
Global premiums written grew 2.4% in 2012: Swiss Re study
June 26, 2013 by Canadian UnderwriterGlobal premium for the non-life insurance sector grew 2.6% last year, and premium growth is likely to improve further in the near term, according to the latest sigma study from Swiss Re. Overall, total global premiums written increased to $4.61…
D&O claims related to corporate acquisitions cause ‘material losses’ for insurers: Fitch
May 2, 2013 by Canadian UnderwriterPremiums for directors and officers liability insurance grew last year, but carriers have been hit by claims related to claims related to mergers and acquisitions, according to a Fitch Ratings Inc. report, Director & Officers Liability Insurance: Market Update 2013.…
Swiss Re reports a 21% increase in net income for 2013 Q1
May 2, 2013 by Canadian UnderwriterSwiss Re has seen a 21% increase in net income for the first quarter of 2013 — from $1.1 billion in 2012 Q1 to $1.4 billion in 2013 Q1. All figures are in U.S. currency. Very strong underwriting performances across…
Power to the Consumer
April 1, 2013 Doug McPhieWith changing times putting consumers front and centre, they wield considerable influence over what constitutes good service. Property and casualty insurers looking to maintain and enhance profitability in 2013 and beyond are advised to adopt a more consumer-centric business model.
Personal lines results key to 2012 growth for Canadian P&C market
March 21, 2013 by Canadian UnderwriterThe Canadian property and casualty insurance market saw substantial growth in premiums in 2012, largely because of growth in personal lines, including improvement in Ontario auto results, according to preliminary data from MSA Research. The industry’s combined ratio for the…
P&C insurance workforce younger in 2012 than in 2007: report
February 13, 2013 by Canadian UnderwriterProperty and casualty insurance firms in Canada need to focus on recruiting aboriginal and internationally-trained professionals, and on flexible work arrangements to retain workers in their 30s, according to a recent report. The Insurance Institute of Canada announced Wednesday it…
Competitive market, low investment yields mean negative ratings outlook for U.S. commercial lines: A.M. Best
February 8, 2013 by Canadian UnderwriterThe outlook for the property and casualty industry in the United States for this year is generally stable, although the commercial lines segment has retained a negative outlook, says a new special report from rating agency A.M. Best. Last year…