Canadian Underwriter

Keyword
Fort McMurray wildfire


News CatastrophesInsuranceMergers and Aqcuisitions

PCS estimates $3.98 billion in insured damage from Fort McMurray wildfire in final re-survey

November 17, 2016 by Canadian Underwriter

Property Claim Services (PCS) has updated its insured damage estimate for the Fort McMurray wildfire to $3.98 billion, down from its August estimate of $4.67 billion. Of the $3.98 billion estimate, the majority is in personal lines ($2.9 billion), with

News CatastrophesInsuranceMergers and Aqcuisitions

$5.3 billion to be re-invested in Alberta economy over three years to rebuild Fort McMurray: Conference Board of Canada report

November 15, 2016 by Canadian Underwriter

About $5.3 billion will be re-invested in Alberta’s economy over the next three years to rebuild Fort McMurray following the massive wildfire in May, according to a new Conference Board of Canada report on the economic impacts of Canada’s most costliest natural

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Canadian insurers covering Fort McMurray property ‘learned a lot’ from 2011 Slave Lake wildfire: A.M. Best’s Silverthorn

November 10, 2016 Greg Meckbach, Associate Editor

The insured loss from the wildfire in May in Fort McMurray, Alta. will be “somewhere between” $3.6 billion and $4.6 billion, with European reinsurers covering nearly half of the loss, analysts from A.M. Best Company Inc. suggested Thursday. “The reinsurers

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

A.M. Best maintains stable outlook for Canadian P&C industry; financial results strong again in 2015

November 8, 2016 by Canadian Underwriter

Ratings firm A.M. Best Company continues to maintain a stable outlook for the Canadian property and casualty insurance industry, noting that it has “historically shown resilience and the ability to adapt when necessary.” A.M. Best’s stable outlook is based primarily

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Economical Insurance gross written premiums up 6.7% to $550 million in third quarter of 2016 from prior-year quarter

November 7, 2016 by Canadian Underwriter

Economical Insurance has reported that gross written premiums (GWP) were up by 6.7% to $550.3 million in the third quarter of 2016 ending Sept. 30 from $515.9 million in Q3 2015. In the first nine months of 2016, GWP were

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Swiss Re reports net income of US$3 billion for first nine months of 2016

November 3, 2016 by Canadian Underwriter

Swiss Re has reported a net income of US$3 billion for the first nine months of 2016, with all business units contributing to the result, “despite the difficult market environment.” The net income results, released on Thursday, compared to US$3.7

News CatastrophesInsuranceLegislation / RegulationMergers and Aqcuisitions

Alberta government introduces bill aimed at reducing human-caused wildfires and enhancing firefighting operations

November 1, 2016 by Canadian Underwriter

The government of Alberta announced on Monday that it has tabled a bill introducing measures aimed at reducing the number of wildfires caused by humans and enhancing firefighting operations in the province. Bill 24, the Forest and Prairie Protection Amendment

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

Back to business results expected from oilsands as wildfire impact dissipates

October 26, 2016 Dan Healing - THE CANADIAN PRESS

CALGARY – Oilsands producers are expected to report back-to-business third-quarter results over the next few days as they shrug off lingering impacts of last May’s devastating wildfires in Fort McMurray, Alta. While provincial estimates report that Alberta oilsands production dropped

News InsuranceLegislation / RegulationMarkets / Coverages

Low oil prices a double-edged sword for Canadian economy: KPMG seminar speaker

October 24, 2016 Jason Contant, Online Editor

Low oil prices continue to present a major challenge for the Canadian economy, but they could be viewed as a “positive shock” for some jurisdictions and the economy of the United States, a speaker suggested on Monday at KPMG’s annual

News CatastrophesClimate ChangeInsuranceProfessional Development

Canadian business leadership critical to reducing climate and other natural disaster risks, PwC Canada says

October 7, 2016 by Canadian Underwriter

Canadian business leadership is crucial to reducing the risks from climate and other natural disasters, PwC Canada said on Friday. That day, PwC convened a group of private and public sector leaders to discuss the case for Canadian businesses to

News CatastrophesInsuranceMergers and Aqcuisitions

Intact estimates $170 million in cat losses for third quarter of 2016

October 4, 2016 by Canadian Underwriter

Intact Financial Corporation (IFC) has announced estimated catastrophe losses, net of reinsurance, of approximately $170 million on a pre-tax basis for the third quarter of 2016. The estimate equates to about $124 million or $0.95 per share for the quarter,

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Fort McMurray wildfire shares characteristics of 2011 Thai floods and New Zealand quakes: Baker at NICC

September 30, 2016 Angela Stelmakowich, Editor

VANCOUVER – The Fort McMurray wildfire, though not on the same scale, shared many characteristics of the 2011 Thai floods and New Zealand earthquakes, Joel Baker, president and CEO of the National Insurance Conference of Canada (NICC), said Thursday at