Everest Re Group Ltd. reported Monday catastrophe losses, net of reinsurance, of $53.5 million in the three months ending June 30, with a 4.6-point improvement in its Q2 combined ratio to 90.5%. All figures are in United States dollars. Hamilton,…
Toronto-based Fairfax Financial Holdings Ltd. has completed its acquisition of Allied World Assurance Company Holdings AG, the firms announced Thursday. The deal was valued at nearly $5 billion when it was announced Dec. 18, 2016. All figures are in U.S.…
Servca, the independent international specialist Lloyd’s broker, announced on Thursday that is has expanded its global footprint into Canada. Servca now provides regional Canadian brokers with direct access to Lloyd’s of London specialist products, schemes and carriers, “catering for non-standard…
Canadian managing general agent (MGA) ENCON Group Inc. announced on Thursday the introduction of a standalone cyber insurance policy that provides coverage for network business interruption, ecommerce trading exposure, crime and intellectual property risks. Ottawa-based ENCON Group said in a…
Aon plc reported Tuesday its commercial risk solutions revenue of $984 million in the three months ending March 31, up 2% from $961 million during the same period in 2016, while net income, company wide, dropped 9% due in part…
Ontario politicians voted unanimously Monday in favour of a bill that will mandate licensing of home inspectors in the province and will let the government and consumer services minister regulate insurance requirements. Bill 59, an omnibus bill that also introduces…
Berkshire Hathaway Specialty Insurance (BHSI) has introduced a product designed to address the needs of a variety of enterprises, from systems integrators to telecommunications providers to IT staffing firms. The Professional First Professional Liability and Network Security & Privacy Policy,…
Wildfires in Tennessee, an earthquake in New Zealand, Hurricane Matthew and energy-related losses all contributed to a 20.2-point deterioration in the fourth-quarter loss ratio in reinsurance for Aspen Insurance Holdings Ltd., while in primary insurance, Aspen reported a combined ratio…
The professional liability sector of the United States property and casualty insurance market will continue to be robust in 2017, with the competitive level for directors and officers (D&O) and errors and omissions (E&O) businesses specifically remaining heightened, A.M. Best…
The merger agreement announced Sunday by Toronto-based Fairfax Financial Holdings Ltd. and Allied World Assurance Company Holdings AG will give Fairfax a “rather different profile” of insurance business than it currently owns, but it is not clear what percentage of…
Chubb announced on Tuesday that it has released a new suite of insurance coverages to help family offices face liability exposures. “Family Office Amplifier is a flexible package of coverages that includes specialized terms and conditions that reflect today’s evolving…
Respondents to Willis Towers Watson’s (WTW) latest Commercial Lines Insurance Pricing Survey – Canada (CLIPS Canada) have reported a 1.7% written premium price level increase during the second quarter of 2016 compared to the prior year quarter. Data was contributed…