The reserve adequacy of the property and casualty industry south of the border was relatively stable last year, with 2016 marking the 11th consecutive year of favourable development from prior-accident years, Conning notes in a study issued this week. “The…
Both net income attributable to common shareholders and operating net income for Bermuda-based XL Group Ltd. skyrocketed in 2017 Q2 compared to 2016 Q2, with the former increasing six-fold to US$301.6 million. Specifically, net income attributable to common shareholders amounted…
The number of owners using captives for cyber liability programs – up almost 20% last year – represented the fastest growing non-traditional risk in captives managed by Marsh Captive Solutions, the company notes in a new report this week. Fuelled…
Allianz Group has recorded total revenues of 36.2 billion euros in the first quarter of 2017, up 2.5% from 35.4 billion euros in the same quarter last year. All segments contributed to the increase, Allianz said in a press release…
OPTIS Partners has likened recent mergers and acquisitions (M&A) activity among U.S. and Canadian agencies selling p&c insurance and employee benefits to an explosion, with the 178 reported transactions in 2017 Q1 dwarfing the 115 deals in the prior-year quarter.…
The Canadian property and casualty insurance industry saw solid results for both direct premiums written (DPW) and net premiums written (NPW) in 2016, but that was countered by big decreases in both net income and underwriting income, note new figures…
Munich Re is looking to set up partnerships that would previously not have been considered, the company reported this week in announcing the group operating result fell 16.5% to 4,025 million euros in 2016 compared to 4,819 million euros in…
The insurance industry is not impregnable and companies would be well-advised to reinvent themselves by incorporating digital technology and allowing it to become a catalyst, suggests a new report issued Thursday by McKinsey & Company. Some executives “know that staying…
Multiple forces are clearing the way for insurers around the world to make cretive use of loyalty marketing techniques like rewards programs that have historically been the domain of credit cards, travel, lodging and retail, suggests a new Aite Group…
Those in Canada’s property and casualty insurance industry must think outside the box and understand the importance of coupling new products with new delivery methods to meet ever-increasing and ever-changing customer expectations, Philip Cook, CEO of Omega Insurance Holdings Inc.,…
Chelsea Avondale has acquired MAX Canada Insurance Company, which will continue to serve faith-based and Anabaptist communities under its existing name. Closing Nov. 30, the purchase included the acquisition of all MAX Canada-related operations in Canada, including Mutual Aid Insurance…
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…