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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

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and Aqcuisitions

The Co-operators General Insurance Company reports net income of $16.3 million in 2016 Q3 compared to loss in 2015 Q3

October 28, 2016 by Canadian Underwriter

The Co-operators General Insurance Company posted $16.3 million in consolidated net income for 2016 Q3 compared to a net loss of $21.4 million in the prior-year quarter. “During the quarter, there were no material changes to the company’s estimated net

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 InsuranceProfessional DevelopmentTechnology

Global IT spending to reach US$3.5 trillion in 2017: Gartner

October 19, 2016 by Canadian Underwriter

Driven by growth in software and IT services revenue, worldwide IT spending is forecast to reach US$3.5 trillion in 2017, up 2.9% from 2016 estimated spending of US$3.4 trillion, according to the latest forecast by Gartner, Inc. Gartner, an information

News InsuranceLegalLegislation / RegulationMergers and AqcuisitionsTechnology

Canada fourth largest cyber security hub in world, Ontario has potential to assume leading role

October 19, 2016 by Canadian Underwriter

More investment and co-ordination is needed if Ontario – which offers strengths in financial services and technology – is to realize its potential to assume a more dominant leadership role in cyber security, notes a new report issued Thursday. Commissioned

News InsuranceMarkets / CoveragesReinsurance

Reinsurers ‘more willing’ to decline participation where demands from cedents are too great: Guy Carpenter

September 9, 2016 by Canadian Underwriter

As investment returns remain low and with recent drops in renewal pricing, reinsurance carriers are resisting “aggressive buying tactics” on the part of cedents, Guy Carpenter & Company LLC suggested in an article published Friday. “From a buying perspective, while

News Earnings / RatingsInsurance

Global reinsurance profits to decline on soft market conditions: Fitch

May 6, 2016 by Canadian Underwriter

Global reinsurance sector profits will fall below 2015 levels this year due to increasing pressure in underwriting and investment results as well as diminishing opportunities to deploy capital, according to a new report from Fitch Ratings. While the reinsurance sector

News AssociationsInsuranceLegislation / RegulationProfessional Development

Two Canadian financial regulatory agencies sign MOU related to disciplinary actions in Ontario

March 31, 2016 by Canadian Underwriter

The Investment Industry Regulatory Organization of Canada (IIROC) and the Financial Services Commission of Ontario (FSCO) announced on Wednesday that they have signed an information-sharing agreement that will “provide more effective regulation and strengthen consumer protection in Ontario.” Under the