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Which insurers were hit hardest by the third-quarter hurricanes?

January 15, 2018 by David Gambrill

Which (re)insurers absorbed the bulk of the insured damages when Hurricanes Harvey, Irma and Maria ripped through the Caribbean and continental United States in 2017 Q3? A.M. Best compiled a list of 41 insurers and reinsurers who paid out more

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

Gross written premiums up 9.7% for Northbridge

August 8, 2017 by Canadian Underwriter

Northbridge Insurance had a 0.3-point in its second-quarter combined ratio, from 100% last year to 99.7% this year, while OdysseyRe’s combined ratio improved 3.9 points, the insurers’ parent firm, Fairfax Financial Holdings Ltd., reported recently. Toronto-based Northbridge Insurance had an

News Insurance

Fairfax agrees to reduce holdings in insurance joint venture with ICICI Bank

June 1, 2017 by Canadian Underwriter

Fairfax Financial Holdings Ltd. has agreed to reduce its holdings in Mumbai, India-based insurer ICICI Lombard General Insurance Company Ltd., a joint venture between ICICI Bank and Toronto-based Fairfax. In its annual report for 2016, released in April, Fairfax reported

News Mergers and Aqcuisitions

Ontario Municipal Employees Retirement System agrees to buy minority stake in Allied World

January 27, 2017 by Canadian Underwriter

Allied World Assurance Company Holdings AG will be 21% owned by the Ontario Municipal Employees Retirement System (OMERS) if a deal announced Friday with Fairfax Financial Holdings is approved. Toronto-based Fairfax announced Dec. 18 a merger agreement, valued at about

News Earnings / RatingsInsurance

Fort McMurray wildfire adds 9.2 points to Northbridge Insurance’s Q2 combined ratio

August 3, 2016 by Canadian Underwriter

The recent wildfire in and near Fort McMurray, Alberta resulted in net incurred losses of $13.5 million for OdysseyRe and $20.9 million for Northbridge Insurance, the carriers’ parent company reported recently. All figures are in United States dollars. Fairfax Financial

News Insurance

Fairfax Financial agrees to buy Zurich’s South Africa and Botswana insurance operations

July 8, 2016 by Canadian Underwriter

Fairfax Financial Holdings Ltd., the Toronto-based parent company of Northbridge Insurance and OdysseyRe, recently announced it has agreed to acquire Zurich Insurance Company Ltd.’s South African and Botswana operations. The proposed acquisition of Zurich Insurance Company South Africa Limited (ZICSA)