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A.M. Best maintains global reinsurance sector outlook at negative

December 13, 2016 by Canadian Underwriter

A.M. Best Company is holding its outlook for the global reinsurance sector at negative, citing the continued market challenges that will hinder the potential for positive rating actions over time and may eventually translate into negative rating pressures. The Best’s

News CatastrophesInsuranceMergers and Aqcuisitions

Typhoons in September cost global economy more than US$4 billion: Aon

October 6, 2016 by Canadian Underwriter

Tropical cyclones throughout the world in September have cost the global economy more than US$4 billion, according to the latest edition of Aon Benfield’s Global Catastrophe Recap report, released on Thursday. The Global Catastrophe Recap, from Impact Forecasting, Aon Benfield’s

News CatastrophesInsuranceMergers and Aqcuisitions

Insured losses in mainland China from Typhoon Meranti between US$650 million and US$1.15 billion: AIR

September 30, 2016 by Canadian Underwriter

Catastrophe modelling firm AIR Worldwide is estimating insured losses in mainland China from Typhoon Meranti earlier this month at between US$650 million and US$1.15 billion. Typhoon Meranti experienced rapid intensification on Sept. 11-12, with wind speed increasing more than 150

News CatastrophesInsurance

Dozens missing in landslides south of Shanghai following Typhoon Megi

September 29, 2016 THE ASSOCIATED PRESS

BEIJING – At least 32 people were reported missing Thursday after rain-saturated hillsides collapsed onto villages in southeastern China following a typhoon. A rescue operation was underway in Sucun village in China’s Zhejiang province, south of the financial hub of

News Climate ChangeInsurance

Paris climate change agreement passes key threshold

September 21, 2016 Michael Astor - THE ASSOCIATED PRESS

Thirty-one countries formally joined the Paris climate change pact Wednesday, bringing the total number of countries ratifying the treaty to 60 and raising hopes that it will enter into effect by the end of the year. The number is higher

News CatastrophesInsuranceMergers and Aqcuisitions

Meranti southeast China’s most powerful typhoon in decades

September 16, 2016 by Canadian Underwriter

Although Typhoon Meranti weakened significantly as it approached China, it still came ashore with a central pressure of 940 mbar, the equivalent of a Category 4 hurricane – the strongest typhoon in the region since 1949, according to catastrophe modelling

News Earnings / RatingsInsuranceMarkets / Coverages

Fed minutes: Conditions could ‘soon warrant’ a rate hike

August 17, 2016 Martin Crutsinger - THE ASSOCIATED PRESS

WASHINGTON – Federal Reserve officials believed last month that near-term risks to the U.S. economy had subsided and that an interest rate increase could soon be warranted. But they did not indicate when they would likely raise rates. The minutes

News CatastrophesInsuranceMergers and Aqcuisitions

Worst flooding since 1998 leaves US$33 billion economic toll in China: Aon’s Impact Forecasting

August 4, 2016 by Canadian Underwriter

Flooding in China in July caused an estimated US$33 billion in economic losses, but claims payouts represented less than 2% of the cost, according to Impact Forecasting’s monthly Global Catastrophe Recap. The report from Impact Forecasting, Aon Benfield’s catastrophe model

News InsuranceLegalMergers and AqcuisitionsTechnology

Citing cyber ‘revolution,’ Obama issues attack response plan

July 26, 2016 Josh Lederman - THE ASSOCIATED PRESS

WASHINGTON – The White House warned Tuesday of a “revolution” of computer-generated threats to the U.S. stoked by growing cyber aggression by traditional U.S. foes like Russia and North Korea, and issued a colour-coded response plan for the federal government

News Catastrophes

$850 million in economic losses from floods in China

July 4, 2016 THE ASSOCIATED PRESS

BEIJING – Three days of heavy rain in southern China have left 50 people dead and another 12 missing and destroyed thousands of homes, authorities said Sunday, as areas along the Yangtze River braced for more floods. Torrential rains caused

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

Tornado shuts down Canadian company’s solar cell factory in China, no material impact anticipated

June 28, 2016 by Canadian Underwriter

Emergency team members have been dispatched to help employees and communities affected by the tornado that damaged and shut down Canadian Solar’s solar cell factory in China, although it is not anticipated the event will have a material impact on