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U.S. P&C insurance industry posts underwriting loss of US$2.3 billion in first half of 2016: A.M. Best

September 16, 2016 by Canadian Underwriter

The property and casualty insurance industry in the United States posted an underwriting loss of approximately US$2.3 billion and a 3.5% decline year-over-year in net investment income through the first six months of 2016, said a new A.M. Best Company

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Zurich Insurance Group’s 2016 business operating profit down in H1, up in Q2 over prior-year periods

August 11, 2016 by Canadian Underwriter

Continuing to build on its efforts to simplify and become more agile, Zurich Insurance Group reports that its business operating profit (BOP) for the first half of 2016 was US$2.194 million, down 2% from US$2.238 million for 2015 H1. Figures

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Non-life catastrophe bond issuance hits US$2.8 billion: WCMA

July 12, 2016 by Canadian Underwriter

Market issuance of non-life catastrophe bonds for the first half of the year amounted to US$2.8 billion, with six transactions in the second quarter accounting for US$1 billion of capacity, notes a report from Willis Capital Markets & Advisory (WCMA).

News CatastrophesInsuranceMergers and Aqcuisitions

Global growth in insurance premium steady, but outlook mixed: Swiss Re

July 4, 2016 Premium

Global insurance premium growth in 2015 was up to 3.8% in real terms compared to 3.5% in 2014, illustrating a steady performance, but bringing with it a mixed outlook, Swiss Re points out in its latest sigma report. Global premium

News CatastrophesClimate ChangeLegalMergers and AqcuisitionsTechnology

IBC, Tesera Systems announce transfer agreement for bureau’s Municipal Risk Assessment Tool

March 30, 2016 by Canadian Underwriter

Insurance Bureau of Canada (IBC) has announced the intellectual property rights for its municipal risk assessment tool (MRAT) – a made-in-Canada solution to help communities be more resilient and adaptable to climate change – is being transferred to Tesera Systems