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M&A-lite: a new way to transform the business

July 4, 2018 by Greg Meckbach

Improving distribution and exploring sophisticated technologies such as artificial intelligence are among the major reasons why insurance CEOs are looking to make deals such as mergers and acquisitions these days. But some of these objectives can be accomplished through other,

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Leading Canadian insurers ‘looking at M&A intensely’

July 3, 2018 by Greg Meckbach

Brokers can expect to see a major carrier consolidation deal this year, assuming the prediction of a major mergers and acquisitions (M&A) advisory firm holds true. Of the top 10 Canadian P&C insurers, “it could be expected that a few

News Appointments

Former KPMG Canada insurance leader Parkinson elected to mortgage insurer board

June 12, 2018 by Greg Meckbach

Neil Parkinson, former national leader of KPMG Canada’s insurance industry practice, has been elected to the board of directors of Genworth MI Canada Inc., Genworth announced last Wednesday. Investors holding 99.61% of Genworth’s shares voted for Parkinson, Genworth reported in

News Technology

Google, Big 4 accounting firm dive into omnichannel insurance game

June 11, 2018 by Greg Meckbach

Google and KPMG LLP are targeting insurers with clients who want to communicate in a variety of ways – whether by phone, email, text message or even snail mail. KPMG recently announced Intelligent Interactions, available now, which KPMG is offering

News InsuranceLegislation / RegulationMarkets / Coverages

Why risk managers need to watch NAFTA

March 26, 2018 by Greg Meckbach

With Canadian companies facing the prospect of new tariffs for exports to the United States, the uncertainty over the North American Free Trade Agreement should be “front and centre” for risk managers, a KPMG expert told Canadian Underwriter Thursday. “You

News InsuranceMarkets / CoveragesTechnology

Five things for insurance professionals to watch for

November 28, 2017 Jason Contant, Online Editor

Five factors, outlined below, can make or break the state of the Canadian property and casualty (P&C) insurance, says Nazir Valani, partner and national leader with KPMG in Canada’s actuarial practice. He spoke Tuesday at KPMG’s Annual Insurance Conference in

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesProductsReinsurance

Will nat cats increase product pricing in Canada?

November 28, 2017 Jason Contant, Online Editor

Increases in natural catastrophes and the price of reinsurance could also drive up the price of insurance products in Canada, the federal financial regulator said Tuesday. “Our concern is in the longer run, we’ll see increases in the price of

News Insurance

79% of U.S. insurance CEOs confident of growth prospects, 82% looking to disrupt: KPMG study

September 15, 2017 by Canadian Underwriter

The majority of insurance company CEOs in the United States – 79% – are confident about the growth prospects of their organizations over the next three years as they are looking to innovate processes and implement new technologies in response

Feature CatastrophesMergers and AqcuisitionsReinsurance

Fire Stopper

August 3, 2017 Greg Meckbach, Associate Editor

The Alberta government reports it is currently implementing most of the 31 recommendations contained in two commissioned reports exploring what worked and what did not in the wake of the massive Fort McMurray wildfire. And while Canada’s most costly natural disaster ever will not necessarily change how reinsurers here conduct business, there are rumblings of its potential impact on pricing.

News InsuranceTechnology

Canadian CEOs view disruption as an opportunity, report disrupting their sectors: KPMG study

June 13, 2017 by Canadian Underwriter

Three-quarters of Canadian CEOs (75%) see disruption as an opportunity for their business, not a threat, and 86% said their business is actively disrupting its sector rather than waiting for disruption by competitors, according to a new survey from audit,

News CatastrophesInsuranceMergers and Aqcuisitions

Report into Fort McMurray wildfire cites communications breakdown in early days

June 9, 2017 Dean Bennett - THE CANADIAN PRESS

EDMONTON – A report into the Fort McMurray wildfire cites critical communications breakdowns as the fire swept into the municipality and forced thousands to flee. Independent consultants that produced the report for the province noted that in the early days

News InsuranceMarkets / CoveragesMergers and AqcuisitionsTechnology

Autonomous vehicles will shrink U.S. auto OEM collision repair revenue by 48% by 2030: KPMG

May 18, 2017 by Canadian Underwriter

Original equipment manufacturers (OEMs) in the United States will see a 48% dent in their lucrative collision parts business as a result of self-driving cars, a new report from audit, tax and advisory firm KPMG. The report Will autonomous vehicles