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CatIQ enters into agreement with Impact Forecasting to use cat event flood response footprints for Canada

August 11, 2017 Jason Contant, Online Editor

Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ) announced that they have entered into an agreement whereby Impact Forecasting’s cat event response flood footprints for Canada will be made available as a layer on CatIQ’s CatHUB module. “Aon Impact Forecasting’s Canadian

News CatastrophesInsuranceMergers and Aqcuisitions

Asia records US$11 billion economic loss from heavy flooding in July, western Canada affected by wildfires, severe weather: Aon

August 8, 2017 by Canadian Underwriter

Relentless seasonal flooding that began in mid-June resulted in continued fatalities and damage across parts of Asia in July, causing an estimated US$11 billion in economic losses, according to Impact Forecasting’s latest Global Catastrophe Recap report. On Tuesday, Impact Forecasting,

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Aon plc net income up to US$769 million in Q2 2017 from US$300 million in Q2 2016

August 8, 2017 by Canadian Underwriter

Aon plc has reported a net income attributable to shareholders of US$769 million for the three months ending June 30, a drastic increase from US$300 million in the prior-year period. Total revenue increased 4% to US$2.4 billion from US$2.3 billion

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Global premiums up in 2016, growth lower but outlook still positive: Swiss Re

July 5, 2017 by Canadian Underwriter

The 3.7% increase in global insurance premiums on the non-life side in 2016 was driven by expansion among the emerging countries and exceptional performance in China, although growth weakened in advanced economies, Swiss Re Institute suggests in its latest sigma

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Global acquirers underperformed in the second quarter: Willis Towers Watson

June 23, 2017 by Canadian Underwriter

The global mergers and acquisitions (M&A) market underperformed in the second quarter of 2017, as Europe M&A bucked the trend and market volatility and economic uncertainty depressed performance in North America and Asia, according to Willis Towers Watson’s (WTW) latest

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsTechnology

Shipping losses continue to decline but “perfect storm” of regulation, cost savings and cybersecurity looms: AGCS

June 13, 2017 by Canadian Underwriter

Large shipping losses have declined by 50% over the past decade, but a “perfect storm” of regulation, cost savings and cybersecurity looms, according to Allianz Global Corporate & Specialty’s (AGCS) fifth annual Safety and Shipping Review 2017. The report, released

News InsuranceMergers and Aqcuisitions

US$33 billion in 2016 global insurance M&A marks retreat from prior-year levels: Conning

May 15, 2017 by Canadian Underwriter

Global insurance mergers and acquisitions (M&A) activity slowed across all sectors in 2016, according to a new study from global investment management firm Conning. The Conning study, 2017: Global Insurer Mergers & Acquisitions in 2016 – Activity Slows, but Pressures

News Climate Change

March and year-to-date second warmest on record for the world: NOAA

April 21, 2017 by Canadian Underwriter

On the heels of the second warmest winter in its 138-year record, the National Oceanic and Atmospheric Administration (NOAA) has reported that March 2017 and the year-to-date were the second warmest on record for the world. The March 2017 average

News InsuranceMergers and AqcuisitionsReinsurance

Global insurance industry to see “slightly increased” growth by 2018, P&C premium volume to grow by 4% on average: Munich Re

April 20, 2017 by Canadian Underwriter

The global insurance industry is likely to see slightly increased growth by 2018, Munich Re reported on Thursday. Munich Re said in a press release that better economic prospects in the United States and in many emerging markets will offset

News AssociationsInsuranceMergers and AqcuisitionsTechnology

Autonomous vehicles coming, but auto books will not disappear any time soon: CIAA event speaker

April 17, 2017 by Angela Stelmakowich

Autonomous vehicles are coming, but there is no need for property and casualty insurers to panic that their auto books are going to quickly disappear, Andrew Lo, president and chief operating officer of Kanetix Ltd., said Thursday at the Canadian

News CatastrophesInsuranceMergers and AqcuisitionsTechnology

FM Global launches worldwide flood map for commercial properties

April 4, 2017 by Canadian Underwriter

Commercial property insurer FM Global announced on Tuesday that it has launched its Global Flood Map, offering a “one-stop consistent global view of flood exposure to aid businesses.” The interactive Global Flood Map “presents business executives with a powerful new

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsReinsurance

Global insured losses from disasters up 42%, economic losses almost double in 2016 over 2015: Swiss Re

March 28, 2017 by Canadian Underwriter

Both economic and insured losses from natural catastrophes and man-made disasters in 2016 were the highest since 2012 – reversing a four-year downtrend – amounting to US$54 billion and US$175 billion, respectively, notes the latest sigma study from the Swiss