Canadian Underwriter

Keyword
Fort McMurray


News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsuranceTechnology

Difficult year for Canada’s p&c insurance industry: IBC’s McGown

April 4, 2017 by Angela Stelmakowich

The Fort McMurray wildfire and other large weather events combined with the lowest return on investment (ROI) in decades to produce a very difficult year for Canada’s p&c insurance industry in 2016, David McGown, senior vice president of strategic initiatives

Feature CatastrophesInsuranceReinsurance

Herding Cats

April 1, 2017 Angela Stelmakowich, Editor; and Greg Meckbach, Associate Editor

Catastrophes, both natural and man-made, continue to capture the attention of
everyone involved in Canada’s property and casualty industry. By gathering the most up-to-date and relevant information, the thought is that stakeholders will better be able to herd straggler facts into a more manageable and usable form.

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsuranceTechnology

Munich Re operating result down in 2016 from 2015, new partnerships could answer changing client demands

March 16, 2017 by Canadian Underwriter

Munich Re is looking to set up partnerships that would previously not have been considered, the company reported this week in announcing the group operating result fell 16.5% to 4,025 million euros in 2016 compared to 4,819 million euros in

News InsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

Supreme Court of Canada to hear appeal from subcontractor arguing trustee must notify potential claimants of existence of surety bond

March 9, 2017 by Canadian Underwriter

The Supreme Court of Canada announced Thursday it will hear an appeal from a subcontractor on an oilsands project who is trying to sue a general contractor for failing to inform it of the existence of a surety bond. Court

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesTechnology

RSA Canada posts solid underwriting profit despite nat-Cat events in 2016

February 24, 2017 by Angela Stelmakowich

RSA Canada witnessed increased underwriting profit and a solid combined ratio for 2016 despite what can only be described as a challenging year that featured Canada’s most costly insurable nat-Cat ever and a host of other adverse weather events. “We’re

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Co-operators General Insurance Company net income $128.8 million in 2016 Q4, up from $103.3 million in 2015 Q4

February 16, 2017 by Canadian Underwriter

The consolidated net income for Co-operators General Insurance Company increased for the fourth quarter of 2016 over the same quarter in 2015, but net income for 2016 decreased from 2015. The Co-operators has posted net income of $128.8 million for

News CatastrophesEarnings / RatingsInsurance

Personal lines cat ratio up 9.3 points at Intact due in part to Fort McMurray

February 8, 2017 by Canadian Underwriter

Intact Financial Corp. released Wednesday its financial results for 2016, reporting a 5% increase in direct premiums written and a 40% drop in underwriting income during a year when Canada’s most expensive natural disaster cost the firm $400 million before

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Canadian auto sales to edge down in 2017: Scotiabank

February 7, 2017 by Canadian Underwriter

Canadian auto sales are expected to edge down to 1.94 million units in 2017, coming off four consecutive record years, according to the Scotiabank Global Auto Report, released on Tuesday. Despite the beginning of a sales recovery in the resource-rich

Feature Catastrophes

Claims in Action

February 2, 2017 Pat Van Bakel, Chief Executive Officer, Crawford Canada

The scale and complexity of the Fort McMurray wildfire sparked a multitude of claims issues for the insurance industry as a whole. But a concerted effort by all stakeholders helped insurers address the many and unique challenges in the aftermath of the record loss.

News CatastrophesClimate ChangeMergers and AqcuisitionsReinsurance

2016 sees highest-ever catastrophe insured losses, hail has impact: Rennie

February 1, 2017 by Angela Stelmakowich

2016 was a year of records: the largest catastrophe-related insured losses in Canada’s history, the biggest loss for a single Cat and the most hail events in the month of July, Carolyn Rennie, managing director of Catastrophe Indices and Quantification

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsReinsurance

2016 costliest 12 months for natural catastrophes in the last four years: Munich Re

January 4, 2017 by Canadian Underwriter

The US$175 billion in natural catastrophes losses in 2016 – the lion’s share of which were uninsured – dwarfed those in the previous year and were just shy of 2012’s US$180 billion total, Munich Re reports. The research released Wednesday

Feature CatastrophesInsuranceReinsurance

Beyond Fort Mac

January 1, 2017 Tom Johansmeyer, Assistant Vice President, PCS Strategy and Development; and Ted Gregory, Director of PCS Operations, Verisk Insurance Solutions

Property Claim Services Canada has designated nine catastrophe events in Canada in 2016. Though most of the $4.9 billion insured loss arose from the Alberta wildfires, the data indicates hail and thunderstorms events are becoming more severe.