Keyword
Ratings/Research
$300 million in insured losses reported from thunderstorms in Western U.S: Aon
July 9, 2015 by Canadian UnderwriterAon plc’s Impact Forecasting unit announced Wednesday the release of its Global Catastrophe Recap for June, suggesting five days of severe thunderstorms caused more than $450 million in economic losses in the Western United States, at a time when thunderstorms…
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…
American officials want more evidence of strength before raising interest rates
July 8, 2015 Martin Crutsinger - THE ASSOCIATED PRESSWASHINGTON Policymakers with the United States Federal Reserve saw signs in June that the economy was healing after its winter slump but still wanted more signs of improvement before they began raising interest rates. Minutes of the June 16-17 discussions…
Insurance not considered by 25% of homeowners who have rented out their properties through sharing services
July 8, 2015 by Canadian UnderwriterSharing services used for temporary rentals of property are all the rage these days, but insurance was not top of mind for a quarter of polled Canadian homeowners who used the services to rent out their properties, Allstate Insurance Company…
64% of polled insurance CEOs see increasing tax burden as threat to growth prospects: PwC
July 6, 2015 by Canadian UnderwriterAbout two-thirds of insurance chief executive officers from 37 countries taking part in a recent survey regard increasing tax burden as a threat to their growth prospects, PwC reports. In all, 80 insurance CEOs were interviewed as part of PwC’s…
2015 Q1 reinsurance capital up 1% to US$580 billion from end of 2014
July 3, 2015 by Canadian UnderwriterReinsurance capital inched up 1% to US$580 billion for the first quarter of 2015 compared with the end of 2014, in part aided by continued light catastrophe activity, notes a new report from Aon Benfield. “There were positive and negative…
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…
U.K. insurers, brokers challenged to act quickly on new data sources: survey
July 2, 2015 by Canadian UnderwriterInsurers and brokers in the United Kingdom are facing an explosion in external data sources and are challenged to act quickly, suggest new survey results released jointly by Verisk Insurance Solutions and Earnix. The survey of carriers and brokers in…
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…
Cat bond market shifting, issuance down 28% in first half of 2015 compared to first half of 2014: PCS
July 2, 2015 by Canadian UnderwriterThe catastrophe bond market is continuing its trend toward larger transactions by fewer sponsors, witnessing US$4.1 billion in issuance activity for the first half of 2015 compared to US$5.7 billion for the same period in 2014, notes a new report…
Active M&A market for Canadian p&c insurers shows no sign of slowing, A.M. Best says
June 26, 2015 by Canadian UnderwriterOngoing performance pressures in Canada’s property and casualty market, combined with the need for scale and long-term strategic positioning continue to drive consolidation in the sector, says a new report from rating agency A.M. Best Company. Released on Friday, the…
Total direct premiums written for global insurance industry in 2014 up 3.7%: Swiss Re sigma study
June 24, 2015 by Canadian UnderwriterTotal direct premiums written for the global insurance industry in 2014 were up 3.7% to US$4,778 billion after having stagnated the previous year, according to Swiss Re’s latest sigma study. Released on Wednesday, the study, World Insurance in 2014: back…