The Canadian non-life insurance industry is likely to return to an underwriting profit in 2017, according to Fitch Ratings’ new report on the Canadian non-life insurance market. Following a significant improvement in 2015 underwriting performance, the market in aggregate will…
Fitch Ratings expects insurance broker earnings and revenue south of the border to likely to modestly improve in 2017 compared to the first nine months of 2016. “In 2017, Fitch expects brokers will continue to supplement organic revenue growth through…
Fitch Ratings has changed the fundamental sector outlook for the United States property and casualty insurance industry to negative from stable, reflecting recent declines in profitability and anticipated further earnings deterioration in 2017 due to more competitive market conditions. Fitch…
PERILS AG’s second loss estimate for insured property loss associated with Central Italy’s earthquake in August has almost doubled from 34 million euros to 66 million euros. The third loss estimate for the quake is scheduled to be published Feb.…
Aon plc announced Wednesday its Cyber Enterprise Solution, suggesting that the policy wording on the insurance policy is proprietary to Aon and could cover property damage arising out of a network security breach. Aon Cyber Enterprise Solution “can address emerging…
Excess and surplus (E&S) underwriters in the United States will likely outperform standard market underwriters in 2017 even if underwriting profitability weakens next year, according to Fitch Ratings’ latest U.S. Excess and Surplus Lines Market Review report. E&S underwriters outperformed…
Global catastrophe risk management firm Risk Management Solutions, Inc. (RMS) estimated on Monday that the insured loss associated with wind and coastal flooding from Hurricane Hermine will not exceed US$400 million. This figure includes property damage and business interruption caused…
Weak profitability is likely to leave more reinsurers worldwide vulnerable to takeover in 2017, reinvigorating mergers and acquisitions (M&A) activity as healthier firms seek growth and efficiency savings, Fitch Ratings said on Monday. Consolidation in the sector has stalled after…
Advances in the development of “visual intelligence” based on multiple data sources, including satellite imagery and drone footage, have the potential to significantly enhance claims and catastrophe response processes and underwriting decision making when companies harness that potential effectively, according…
Hurricane Hermine is expected to have a “modest” impact on the property and casualty and catastrophe bond markets, according to ratings agency Fitch Ratings. Insured losses for reinsurers from this event will also likely be limited, but Fitch said in…
Fitch Ratings expects more defaults and mergers and acquisitions activity in both the short and medium terms for container shipping, but adds this “will only restore equilibrium and boost freight rates if they prompt capacity reduction.” The comments follow Korean…
North American property and casualty insurers’ operating earnings decreased in the first half of 2016, as results were challenged by modest underwriting deterioration and low investment yields, according to a new report released on Friday by Fitch Ratings. For a…