Keyword
Consolidation / Insolvency
Global insurer M&A transaction values reach US$195 billion in 2015
March 18, 2016 by Canadian UnderwriterThe aggregate value of global insurance transactions in the property-casualty, life and health sectors last year was four times higher than in 2014, reaching US$195 billion, notes a study released this week by Conning, Inc. “M&A activity in 2015 was…
Financial services concerned standalone FinTechs a risk to their business, not capitalizing on blockchain: PwC
March 16, 2016 by Canadian UnderwriterMore than eight of 10 surveyed financial services firms, including banking and insurance, report believing part of their business is at risk of being lost to standalone FinTech companies, suggests a report released Tuesday by PricewaterhouseCoopers (PwC). Based on a…
Ontario reviewing ‘current solvency funding framework’ of workplace pensions
March 9, 2016 by Canadian UnderwriterThe Ontario government has “initiated a review” of the solvency funding framework for workplace pension plans, the ruling Liberals announced in their budget document for 2016-17. “In recent years, low long-term interest rates have placed funding pressures on pension plan…
Carriers with saturated lines, digital-based players expected suitors for U.S. small commercial insurance market: McKinsey
March 3, 2016 by Canadian UnderwriterRepresenting one of the few bright spots in the U.S. property and casualty market growth over recent years, small commercial insurance has become the focus of intense competition that is expected to intensify in the near future, suggests a report…
Assurances Bernatchez et Associs acquires Fort Insurance Group Inc.
February 4, 2016 by Canadian UnderwriterStephan Bernatchez has acquired Montreal-based Fort Insurance Group Inc., a strategic move expected to provide growth possibilities in the Quebec, Ontario and Alberta markets. “The strategic and geographic positioning of Fort Financial Group will give us the possibility to grow…
Aviva Canada to acquire RBC General Insurance Company, Aviva/RBC Insurance sign long-term strategic agreement
January 21, 2016 by Canadian UnderwriterAviva Canada and RBC Insurance have signed a 15-year strategic agreement – which includes Aviva Canada’s $582 million purchase of RBC General Insurance Company – that will provide RBC Insurance’s existing and future customers access to a full suite of…
U.S. p&c insurers can expect a challenging 2016, need to emphasize underwriting discipline: p&c forum
January 20, 2016 by Canadian UnderwriterProperty and casualty insurers in the United States can expect a challenging 2016, speakers said at the recent 20th annual Property/Casualty Joint Industry Forum, as the diminishing tailwinds of reserve releases struggle against headwinds of low interest rates. Panel members…
Reinsurance pricing floor remains elusive: Willis Re
January 4, 2016 by Canadian UnderwriterReinsurance rates at Jan. 1, 2016 renewals have continued to decline across the majority of markets, with Willis Re reporting Monday that earlier forecasts for a “softening in the softening” in pricing have proved illusory. “Despite the signs of pricing…
OSFI publishes guide for demutualization of certain mutual p&c insurance companies
December 29, 2015 by Canadian UnderwriterThe Office of the Superintendent of Financial Institutions (OSFI) has published on its website a guide for the demutualization of certain mutual property and casualty insurance companies. The Guide for the Demutualization of Mutual Property and Casualty Insurance Companies with…
M&A appetite among Canadian execs strongest since 2009; continuing prudence signals a thoughtful market: EY
December 2, 2015 by Canadian UnderwriterThe percentage of polled Canadian executives with mergers and acquisitions (M&A) plans in the works has tripled over the past year, notes a report released Tuesday by Ernst & Young. Buoyed by optimism about the domestic economy, 73% of surveyed…
Debt, earnings disconnect leaves mining companies vulnerable: EY
November 30, 2015 by Canadian Underwriter“Market conditions are not showing signs of imminent improvement, and if this doesn’t change, only the fittest will survive,” Lee Downham, Ernst & Young’s global mining & metals transactions leader, cautioned in a statement Friday. Globally, mining companies are factoring…
Fosun International completes acquisition of Ironshore interest
November 23, 2015 by Canadian UnderwriterFosun International Limited has completed its acquisition of the remaining 80% equity interest in Bermuda-based Ironshore Inc., which will become an indirect wholly owned subsidiary of the company. Approvals have been received from all relevant regulatory authorities in the United…