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Fort McMurray wildfire


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Alberta fires torch economy, biggest monthly GDP decline in more than 7 years

July 31, 2016 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Alberta wildfires torched the Canadian economy in May, driving the country into its worst one-month performance since the darkest days of the Great Recession. On Friday, Statistics Canada’s latest reading for real gross domestic product showed a

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Aspen Insurance combined ratio up 7.1 points in Q2 2016, gross written premiums increase by 10.9%

July 28, 2016 by Canadian Underwriter

Aspen Insurance Holdings Limited has reported a combined ratio of 100.7% for the second quarter of 2016 compared with 93.6% for the second quarter of 2015. Hamilton, Bermuda-based Aspen Insurance also reported a net income after tax of US$64.9 million

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Loss ratio up 3 points for Arch Capital

July 28, 2016 by Canadian Underwriter

Arch Capital Group Ltd. reported Wednesday a 1.4-point increase in its second-quarter combined ratio and 42% increase in net income, with growth in its travel, construction and national accounts. Pembroke, Bermuda-based Arch Capital’s operations include commercial insurer Arch Insurance Canada

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

SCOR reports combined ratio of 93.8% for first half of 2016, up from 90.9% for the first six months of 2015

July 28, 2016 by Canadian Underwriter

Global reinsurer SCOR announced on Wednesday that its Global P&C segment recorded “strong technical profitability with a robust net combined ratio of 93.8% despite a high number of events in all perils and regions in the second quarter of 2016

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Q2 combined ratio up 5.3 points at Axis Capital

July 27, 2016 by Canadian Underwriter

Reinsurance provider and commercial specialty carrier Axis Capital Holdings Ltd. reported Tuesday its financial results for the second quarter, reporting a 76% increase in net income but a combined ratio of 102.2%, after large losses including the Alberta wildfires and

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Intact reports $127 million loss from Fort McMurray wildfire, combined ratio up to 99.2% in Q2

July 27, 2016 by Canadian Underwriter

Intact Financial Corporation (IFC) reported a $127 million impact in its second quarter financial results from the Fort McMurray wildfire, bringing its combined ratio to 99.2% for the quarter, including 8.8. points of Fort McMurray catastrophe losses. “We delivered $114

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Q2 combined ratio climbs 7.1 points for Everest Re after Alberta wildfire, Texas hail, Ecuador quake

July 26, 2016 by Canadian Underwriter

Everest Re Group Ltd. announced Monday that the net impact of three catastrophes – including the Fort McMurray wildfire – was $105.4 million in the three months ending June 30. “Catastrophe losses, net of reinsurance, amounted to $123.8 million in

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Higher prices from Fort McMurray wildfire to boost Q2 energy company results

July 21, 2016 Dan Healing - THE CANADIAN PRESS

CALGARY – Analysts predict oil prices driven higher by production stoppages during the Fort McMurray, Alta., wildfires in May will bolster the bottom lines of Canadian oil and gas companies as they report financial results starting this week. Western Canada

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Allied World reports $10.3 million in reinsurance catastrophe losses from Fort McMurray wildfire

July 20, 2016 by Canadian Underwriter

Allied World Assurance Company Holdings AG reported Tuesday a 7.2-point improvement in its combined ratio, while the Fort McMurray, Alberta wildfires cost the carrier about $10.3 million and hail storms in Texas cost its reinsurance segment about $6 million and

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Direct economic impact of Fort McMurray wildfire expected to reach US$5 billion: Impact Forecasting

July 20, 2016 by Canadian Underwriter

The overall direct economic impact of the Fort McMurray wildfire is expected to approach US$5 billion once all attributable losses are realized, according to Impact Forecasting, Aon Benfield’s catastrophe model development centre of excellence. “The first half of 2016 ended

News CatastrophesInsuranceMergers and Aqcuisitions

AXIS Capital estimates US$104 million in Q2 2016 losses from weather and cat events, including Fort McMurray wildfire

July 19, 2016 by Canadian Underwriter

Pembroke, Bermuda-based AXIS Capital Holdings Limited announced on Monday its preliminary estimate of second quarter 2016 catastrophe and weather-related losses, including major losses from the Fort McMurray wildfire. AXIS Capital’s preliminary estimate of Q2 2016 cat and weather-related pre-tax losses

News CatastrophesConstructionInsuranceMergers and Aqcuisitions

Fort McMurray #468 First Nation selected by SPECS to carry out wildfire debris removal

July 18, 2016 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) has announced that Fort McMurray #468 First Nation has been selected by Specialized Property Evaluation Control Services Ltd. (SPECS) to carry out the coordinated demolition and debris removal initiative following the Fort McMurray wildfire.