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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