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Natural Catastrophe

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Insurance rates decrease continued to moderate for third quarter in a row: Marsh

November 11, 2016 by Canadian Underwriter

The third quarter of 2016 marked the third consecutive quarter that the rate of decline for global insurance rates has moderated by weighted average, Marsh notes in its newly released Global Insurance Market Index Q3 – 2016. Pointing out that

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Zurich’s net income after tax attributable to shareholders up 342% in Q3 2016

November 10, 2016 by Canadian Underwriter

Zurich Insurance Group has reported net income after tax attributable to shareholders (NIAS) of US$912 million for the third quarter of 2016 ending Sept. 30, up 342% from US$207 million in the same quarter in 2015. For the nine months

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PCS re-survey estimates $4.67 billion in insured damage from Fort McMurray wildfire

August 16, 2016 by Canadian Underwriter

Insured losses arising from the Fort McMurray, Alberta wildfire are estimated at $4.67 billion, Verisk Analytics Inc.’s Property Claims Services said in a bulletin this week. The wildfire in May was the most expensive natural catastrophe in Canadian history, when

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AXIS Capital estimates US$104 million in Q2 2016 losses from weather and cat events, including Fort McMurray wildfire

July 19, 2016 by Canadian Underwriter

Pembroke, Bermuda-based AXIS Capital Holdings Limited announced on Monday its preliminary estimate of second quarter 2016 catastrophe and weather-related losses, including major losses from the Fort McMurray wildfire. AXIS Capital’s preliminary estimate of Q2 2016 cat and weather-related pre-tax losses

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Half of Aspen’s Q2 natural catastrophe loss from Alberta wildfire

July 14, 2016 by Canadian Underwriter

The recent wildfires in Alberta cost Aspen Insurance Holdings Ltd. roughly US$30 million, net of reinsurance and reinstatement premiums, the Hamilton, Bermuda-based carrier suggested in a press release Wednesday. Aspen’s initial estimate, of pre-tax losses, net of reinsurance and reinstatement

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Nat cats in Q2 2016 cost Chubb an estimated US$390 million

July 13, 2016 by Canadian Underwriter

Chubb Limited has estimated that natural catastrophe losses in the second quarter of 2016 cost the insurer US$390 million pre-tax, or US$315 million after tax. According to Chubb’s estimate, released on Tuesday, of the pre-tax total, US$320 million is from

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Canada’s p&c industry sees big jump in underwriting income, big drop in nat-cat losses in 2015: IBC

April 6, 2016 by Angela Stelmakowich

Despite the challenges and fluctuations of 2015 – including plummeting oil prices – Canada’s property and casualty industry “had a relatively good year,” with underwriting income tripling to about $1.7 billion, David McGown, senior vice president of strategic initiatives for