Keyword
capital
Is it time for a new approach to systemic cyber?
November 10, 2023 by Jason ContantSystemic cyber risk needs to be tackled with more capacity and ways of dealing with the attritional cyber market, Marc Lipman, president and attorney-in-fact at Lloyd’s Canada, suggested during an industry event last month. “Just like there developed a traditional,…
Which commercial line needs more capital?
October 16, 2023 by Jason ContantEven though the cyber insurance market is in a much better place now than a few years ago, it still needs an injection of capital to keep up with burgeoning demand, a speaker said during an industry event earlier this…
Reinsurers examining alternative ways to insure cyber
October 6, 2023 by David GambrillCyber may be one of the fastest-growing lines of insurance business in both Canada and abroad, but it’s associated with global systemic issues, and reinsurers are pondering how to raise additional capital to help cover the potentially huge demand for…
COVID’s impact on the Canadian P&C industry’s capital base
March 22, 2021 by David GambrillCOVID-19 may have affected the earnings of individual P&C insurers unevenly, but the industry’s overall capital base reached the unparalleled height of $52.6 billion during the first three quarters of 2020, according to the Property and Casualty Insurance Compensation Corporation…
What concerns the Ontario regulator about OSFI’s proposed reinsurance guidelines
October 3, 2019 by Jason ContantThe CEO of Ontario’s new regulator expressed concern Tuesday about the extent to which the P&C insurance industry says it will be required to provide more capital to comply with the proposed new reinsurance guidelines of Canada’s solvency regulator. The…
Ottawa will ‘not be moving forward’ on proposed capital gains tax changes
October 24, 2017 by Canadian UnderwriterThe federal government is not going ahead with changes, proposed in July, that would have eliminated, for some, an exemption from paying income tax on capital gains realized by disposing of shares in small businesses. The lifetime capital gains exemption…
New rating methodology from A.M. Best expected in Q4
September 8, 2017 Greg Meckbach, Associate EditorA.M. Best Company Inc. expects its new methodology – which will yield five different scores for capital adequacy ratio – will become effective early in the fourth quarter but will not be a “fundamental change” to how the ratings firm…
Global reinsurers’ first-half 2017 results reflect pricing pressure, consolidation expected: Fitch
August 21, 2017 by Canadian UnderwriterGlobal reinsurers’ first half 2017 results provide further evidence of continuing pressure on pricing and earnings, Fitch Ratings said in a report released on Monday. “Intense competition among global reinsurers and the abundance of capital invested in the sector mean…
Insurance industry will be “profoundly disrupted” by technological change, global forum hears
June 15, 2017 by Canadian UnderwriterThe insurance industry will be profoundly disrupted by technological change, Vincent J. Dowling, Jr., managing partner of Dowling & Partners Securities LLC, told attendees at Marsh & McLennan Companies, Inc. (MMC)’s Young Professionals’ Global Forum 2017 in London, U.K. on…
OSFI publishes draft 2018 version of Minimum Capital Test for federally regulated P&C insurers
June 15, 2017 by Canadian UnderwriterThe Office of the Superintendent of Financial Institutions (OSFI) on Thursday published the draft 2018 version of its Minimum Capital Test (MCT) for federally regulated P&C insurers. The revised guideline, which will be effective Jan. 1, 2018, provides clarification with…
Soft pricing in global reinsurance market to continue for at least the rest of 2017: Fitch
May 16, 2017 by Canadian UnderwriterThe soft pricing in the global reinsurance market will continue for at least the rest of 2017, ratings firm Fitch Ratings said in a report released Monday. “We expect premium rates to continue declining, due to large volumes of under-deployed…
Clear, policy-driven Canadian fintech strategy needed: Toronto alliance
May 15, 2017 by Canadian UnderwriterDevelopment of a consistently implemented, policy-driven Canadian fintech strategy focused on fostering innovation is essential and strengthening the fintech ecosystem in the Toronto area should be seen as an imperative for the country’s financial services sector and governments, contends the…