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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 InsuranceMergers and AqcuisitionsTechnology

Incumbent insurers should rethink businesses, embrace opportunity in digital technology: McKinsey & Company

March 9, 2017 by Canadian Underwriter

The insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying

News Insurance

Aviva Canada and DMZ launch Insurtech accelerator program, applications sought

February 28, 2017 by Canadian Underwriter

Aviva Canada and the DMZ at Ryerson University are looking to answer the rise of Insuretech in the country’s insurance industry with the joint launch of an accelerator program for Canadian start-ups requiring rapid development. “The future of our economy

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 Climate ChangeInsuranceTechnology

B.C. government launches incentives for zero-emission vehicles

February 6, 2017 by Canadian Underwriter

British Columbia’s Minister of Energy and Mines has announced an investment of $40 million to encourage British Columbians to “make the switch to zero-emission vehicles, reduce greenhouse gas emissions and support investment in made-in-B.C. green technology.” Bill Bennett announced the

News Earnings / RatingsInsurance

Bank of Canada keeps key rate at 0.5% amid stronger yet uncertain global economy

December 7, 2016 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as it sees the stronger world economy continuing to face “undiminished” uncertainty. In making the scheduled announcement Wednesday, the central bank said its decision

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Fitch changes U.S. P&C insurance industry outlook to negative from stable

November 30, 2016 by Canadian Underwriter

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

News InsuranceTechnology

Making things fast, simple and transparent important for Millennials: speaker

November 15, 2016 by Angela Stelmakowich

Providers dealing with Millennials must have a clear value proposition and understand the importance of communicating in a way that is most comfortable for their clients, David Nugent, WealthSimple’s portfolio manager and chief compliance officer, suggested Monday during an event

News Earnings / RatingsInsuranceMarkets / Coverages

Revenues for Willis Towers Watson up 2% in third quarter of 2016

November 8, 2016 by Canadian Underwriter

Global advisory, broking and solutions company Willis Towers Watson (WTW) has announced its financial results for the third quarter of 2016 ending Sept. 30, reporting total revenues of US$1.78 billion, an increase of 2% (5% constant currency increase, 1% organic

News CatastrophesClimate ChangeInsurance

IBC commends federal government’s focus on infrastructure and flood mitigation in 2016 fall economic statement

November 2, 2016 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is applauding the Government of Canada’s focus on infrastructure investments and flood mitigation in its recently released Fall Economic Statement 2016. In the statement, released on Tuesday, the federal government proposed $21.9 billion over

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

IoT infrastructure investments to be covered by new industrial insurance

November 2, 2016 by Canadian Underwriter

Relayr is partnering with Hartford Steam Boiler (HSB), part of Munich Re, to develop customized insurance products to help relayr customers making Internet of Things (IoT) investments protect their return on those investments. Pointing out that that HSB has 150

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

CNA Financial posts net income of US$343 million in 2016 Q3

November 1, 2016 by Canadian Underwriter

CNA Financial Corporation saw net income jump US$165 million to US$343 million in 2016 Q3 over the prior-year quarter, driven by the performance of its Property & Casualty Operations, higher net investment income and stable catastrophe losses. Net income for