Keyword
economy
RBC CEO sees inflationary pressure building as economy bounces back
March 9, 2021 Anita Balakrishnan - THE CANADIAN PRESSTORONTO – Royal Bank of Canada chief executive David McKay said Tuesday he foresees inflationary pressure building in the economy as it rebounds from the COVID-19 pandemic. With rising input prices for labour and commodities, it could create a challenge…
Canada’s hardest-hit commercial lines — and a reason for optimism
February 18, 2021 by David GambrillCommercial lines market hardening in Canada — and globally — should continue through the early half of 2021, with some possible easing of rate increases during the second half of the year once vaccine rollout is widespread, an Aon report…
Bank of Canada keeps key rate at 0.25 per cent, warns of economic decline in 2021
January 20, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – The Bank of Canada says the national economy will go in reverse for the first quarter of 2021, hammering the hardest-hit workers again on the path to a recovery that rests on the rollout of vaccines. Workers in…
Investors look with optimism to ‘year of the vaccine’, expect major growth in 2021
December 23, 2020 Ross Marowits - THE CANADIAN PRESSTORONTO – On Jan. 1, investors celebrating Bay Street’s best returns since the global financial crisis couldn’t have known what kind of year they were about to face. The year on stock exchanges was marked by swift and frequent changes…
What’s keeping insurance CEOs up at night
December 15, 2020 by Adam MalikAbout 10 months into the global COVID-19 pandemic, insurance leaders are less confident about growing their business and are increasingly concerned about the cratering economy, an insurance industry observer told a recent virtual conference. Even so, they’re showing more confidence…
Facing a perfect storm of events, insurers brace for a ‘turbulent future’
July 21, 2020 by Adam MalikWith natural catastrophes starting to hit, the economy in rough shape, and the courts poised to weigh in on potential business interruption exposures, insurance companies are buckling in for a rough ride ahead, a recent report warns. Natural catastrophe (NatCat)…
CU Webinar: Industry execs to discuss impact of economic recession on Canada’s P&C industry
June 12, 2020 by David GambrillWay back in 2020 Q1, before the world turned upside down, the Canadian property and casualty insurance results were on the rebound from a difficult prior year. But on Mar. 11, 2020, the World Health Organization declared the novel coronavirus…
Economic risks of returning to normal too quickly
April 22, 2020 by Adam MalikReturning to some sort of normalcy is still some time away, according to one economist. And rushing to do so would likely be worse than waiting. It’s best, experts argue, to wait for public health officials to give the green…
How insurance will be hurt by a lagging economy
April 20, 2020 by Adam MalikThe Canadian property and casualty insurance industry is okay — for now. But the longer the global COVID-19 pandemic drags on, the greater the risk that the economic fallout and financial instability will impact the industry’s financial position, warns MSA Research…
Should the hard market run its course through COVID-19?
April 17, 2020 by Jason ContantAs the economic fallout from the COVID-19 pandemic continues during a hard market cycle, the solution to consumers’ woes may not be as simple as providing premium relief, one Quebec broker says. “We’re not seeing premium relief from insurers to…
Economic downturn from COVID-19 will be sharpest on record, Bank of Canada warns
April 15, 2020 The Canadian PressOTTAWA – The Bank of Canada is warning that the downturn tied to COVID-19 will be the worst on record and that the economic recovery will depend on the effectiveness of current measures to bring the pandemic under control. The…
Head of RBC says not to expect quick economic recovery from COVID-19
April 8, 2020 The Canadian PressTORONTO – The head of the Royal Bank of Canada is warning the economic recovery from the COVID-19 pandemic will likely be slower and more uneven than originally thought. CEO Dave McKay said Wednesday that the depths of the challenge…