Keyword
P&C
TechCanary makes available enhanced insurance platform for Canadian market
July 26, 2017 by Canadian UnderwriterU.S.-based TechCanary has enhanced its insurance platform for the Canadian market to allow brokers and insurers access to additional Canada-specific capabilities around p&c lines of business meant to help them to deliver more responsive and predictive offerings to customers. TechCanary…
Hannover Re Group net income down 2.4% to 264.8 million euros in 2017 Q1 compared to 2016 Q1
May 10, 2017 by Canadian UnderwriterGroup net income for Hannover Re contracted to 264.8 million euros in the first quarter of 2017, but was in line with the prior-year quarter’s exceptionally good results, positioning the reinsurer well for achieving its financial targets this year. Group…
In Touch
December 1, 2016 Canadian UnderwriterTechnology is today’s shiny new thing in the property and casualty insurance industry. Unlike many passing fancies, though, technology offers great promise for enhancing efficiencies, identifying risks and cutting costs. Still, insurers need to guard against becoming distracted and straying from what needs to be their ultimate focus: improving customer experience.
Burns Demeyere & Associates to join McFarlan Rowlands Insurance Brokers in 2017
November 29, 2016 by Canadian UnderwriterBurns Demeyere & Associates (BDA), a Tillsonburg, Ont.-based brokerage with a history dating back about 125 years, will join McFarlan Rowlands Insurance Brokers at the beginning of 2017. McFarlan Rowlands – which also has established roots in its community and…
Nat-cats contribute to decrease in net income at SCOR for first three quarters of 2016 compared to prior-year period
October 27, 2016 by Canadian UnderwriterThe Group net income for SCOR for the first nine months of 2016 took a hit, partly as a result of the impact of natural catastrophes, falling 11.0% to 438 million euros compared to 492 million euros for the first…
Insurers have untapped opportunity to transform into solutions providers, not just sellers: consumers
September 20, 2016 by Canadian UnderwriterAlmost three-quarters of consumers taking part in a Bain & Company Inc. survey say they would value a platform for providing services well beyond insurance coverage, opening the door for insurers to transform themselves from just sellers into solutions providers.…
U.S. private p&c insurers’ net income falls 26.6% in Q1 2016, combined ratio up 1.8%: Verisk
July 14, 2016 by Canadian UnderwriterPrivate property and casualty insurers in the United States saw their net income after taxes fall to US$13.3 billion in first-quarter of 2016 from US$18.1 billion in first-quarter 2015, a 26.6% decline, according to data from ISO, a Verisk Analytics…
U.S. P&C loss reserves weaken, but some redundancy remains: Conning
May 19, 2016 by Canadian UnderwriterThe United States property and casualty industry’s reserve releases and overall loss reserve position are diminishing, but reserves still show some redundancy, according to a new study by Conning, Inc. “The property-casualty industry’s reserve adequacy remains stable in spite of…
Big data and analytics, cloud computing, mobility solutions and tech start-up firms driving U.S. insurance IT spending market
May 19, 2016 by Canadian UnderwriterBig data and analytics, cloud computing, mobility solutions and tech start-up firms are among the emerging trends driving the insurance IT spending market in the United States, according to global technology research and advisory company Technavio. Technavio’s report on the…
U.S. commercial auto insurance “a chronic underperformer”: Fitch Ratings
April 28, 2016 by Canadian UnderwriterCommercial auto insurance in the United States has evolved into a “chronically underperforming product segment” for P&C insurers in the country, according to Fitch Ratings. While the P&C industry has reported three consecutive years of significant underwriting profits, the commercial…
XL Group combined ratio up 3.6 points in Q1 2016
April 28, 2016 by Canadian UnderwriterXL Group plc has reported a P&C combined ratio of 92.5% for the first quarter of 2016 ending March 31, up from 88.9% in the prior-year quarter. Dublin, Ireland-based XL Group released its financial results on Wednesday, noting that the P&C…
Canadian p&c insurers should prepare for next wave of corporate M&A: Ernst & Young
April 11, 2016 by Canadian UnderwriterCanadian property and casualty insurers should “expand risk advisory capabilities” and prepare for the “next wave” of corporate mergers and acquisitions, Ernst & Young LLP suggested in a report released Monday. In its 2016 EY Canadian property and casualty insurance…