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Ratings/Research
U.S. p&c industry posts improved underwriting results and net income through the first half of 2015: A.M. Best
October 7, 2015 by Canadian UnderwriterThe United States’ property and casualty industry posted improved underwriting results and net income through the first six months of 2015, according to a special report released on Monday by ratings agency A.M. Best Company. The Best Special Report, titled…
Protection gap remains at an estimated US$1.3 trillion: Swiss Re
October 7, 2015 by Canadian UnderwriterDisaster risks are increasing, but insurance hasn’t kept pace as the estimated US$1.3 trillion gap between insured and total losses remains stubbornly large, said a new report from Swiss Re. Launched at the World Bank/IMF annual meetings in Lima, Peru,…
Reinsurance industry should brace for more challenges: A.M. Best
October 5, 2015 by Canadian UnderwriterContinued benign loss environment and strong performance by select publicly traded reinsurers in the first half of 2015 resulted in a healthy increase in average share price, but those positives seem to be giving way to challenges afoot in the…
Zurich’s preliminary estimate of its expected Tianjin losses US$275 million
September 24, 2015 by Canadian UnderwriterZurich Insurance Group has announced it currently estimates aggregate losses of about US$275 million in connection with mid-August’s series of explosions at a container storage station in the Port of Tianjin in China. The US$275 million estimate for Tianjin losses…
Internet of Things, drones, new payment technologies and wearables to transform insurance industry over the next three years: SMA report
September 23, 2015 by Canadian UnderwriterMore than 40% of 147 insurance professionals surveyed by strategic advisory firm Strategy Meets Action (SMA) say that the Internet of Things (IoT), drones, new payment technologies and wearables will transform the industry over the next three years. This week,…
U.S. central bank leaves key interest rate unchanged
September 18, 2015 Martin Crutsinger - THE ASSOCIATED PRESSWASHINGTON – The United States Federal Reserve is keeping U.S. interest rates at record lows in the face of threats from a weak global economy, persistently low inflation and unstable financial markets. Ending a highly anticipated meeting, Fed officials said…
EXOR deal ‘may not be the end of the discussion’ on fate of PartnerRe: A.M. Best
September 17, 2015 by Canadian UnderwriterPartnerRe Ltd.’s announcement last month that its board recommends shareholders approve an acquisition by EXOR S.p.A. “may not be the end of the discussion” on whether PartnerRe will be actually acquired by EXOR or whether PartnerRe would merge with rival insurer…
Economists ponder whether U.S. central bank will raise interest rates
September 15, 2015 Martin Crutsinger - THE ASSOCIATED PRESSWASHINGTON – Will they or won’t they? Nine years after they last raised their benchmark interest rate and after months of feverish speculation, policymakers with the United States Federal Reserve System this week may finally raise that rate from a…
Underwriting profitability down 13% for Aon Benfield Aggregate
September 8, 2015 by Canadian UnderwriterDespite a reduction in catastrophe losses in the first six months of 2015, the combined ratio of the Aon Benfield Aggregate deteriorated by 0.8 points, Aon plc reported Tuesday, though all insurance carriers in that aggregate were profitable. The Aon…
Healthy Cat bond activity supported by record issuance of private bonds: GC Securities
September 3, 2015 by Canadian UnderwriterCatastrophe bond activity for 2015 Q2 was lower than for the second quarters of both 2013 and 2014, but still represents among the best second quarters on record, notes a new Cat bond briefing and analysis from GC Securities. Cat…
Abundant capacity from traditional and alternative sources creating “new reality” for reinsurance market: A.M. Best
September 2, 2015 by Canadian UnderwriterThe reinsurance market is operating in a “new reality” of abundant capacity from traditional and alternative sources, low interest rates and thinner reinsurance margins driven by intense competition against shrinking demand for reinsurance cover, ratings firm A.M. Best Company said…
Driving Satisfaction
September 1, 2015 Valerie Monet, Director, Insurance Practice, J.D. PowerA recent survey from J.D. Power shows auto insurance providers need to focus on customer service to compete in Canada. One area where that focus will likely be important is the digital channel space.