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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…