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Combined ratio improves 3.7 points for Northbridge Insurance

February 18, 2016 by Canadian Underwriter

Toronto-based Northbridge Insurance had a combined ratio of 91.8% in 2015, down 3.7 points from 95.5% in 2014, while net premiums written for OdysseyRe dropped 12.7%, from US$2.4 billion in 2014 to US$2.095 billion in 2015, the carriers’ corporate parent

News Climate ChangeInsurance

Recent environmental agreements open the door for innovative insurance solutions: Geneva Association

February 16, 2016 by Canadian Underwriter

Recent international agreements to combat climate change clear the way for developing innovative insurance solutions that could help societies become more resilient, although pricing difficulties coupled with often-conflicting public policy measures continue to be challenges, suggests the Geneva Association. Released

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Disasters in 2015, the hottest year on record, demonstrate need to adapt to climate change: UNISDR

February 12, 2016 by Canadian Underwriter

Weather and climate-related disasters now dominate disaster trends linked to natural hazards, suggests a new analysis issued this week by the United Nations Office for Disaster Risk Reduction (UNISDR). The finding, UNISDR reports in a statement, is confirmed by events

News Insurance

Premiums drop 7.4% at Arch Capital

February 10, 2016 by Canadian Underwriter

Insurance carrier Arch Capital Group Ltd. reported Tuesday its financial results, reporting an 8.6% drop in underwriting income and a 1.2-point increase – to 88% – in its combined ratio. Hamilton, Bermuda-based Arch reported net premiums written of $3.35 billion

News InsuranceMergers and Aqcuisitions

Loss ratio up 0.4% for Everest Re

February 9, 2016 by Canadian Underwriter

Bermuda insurance carrier Everest Re Group Ltd. recently reported a 0.6-point deterioration in its combined ratio for 2015, while premiums earned increased 6%. Everest Re, which owns Toronto-based Everest Insurance Company of Canada, released Feb. 3 its financial results for

News Insurance

Catastrophe premiums down 28.4%, loss ratio down 2.1 points for PartnerRe

February 9, 2016 by Canadian Underwriter

PartnerRe Ltd.’s combined ratio improved 0.6 points in 2015, while net income dropped 90% in 2015 compared to 2014, the Pembroke, Bermuda-based insurance carrier reported Monday. PartnerRe, which has a Toronto office, writes reinsurance and commercial primary lines. Its principal

News Insurance

Willis Re, technology company Measure announce strategic partnership to advance drone usage for insurance industry

February 8, 2016 by Canadian Underwriter

Willis Re, the reinsurance business of global advisory, broking and solutions company Willis Towers Watson, has announced a strategic partnership with technology company Measure to advance the use of drones within the insurance industry. Integrating drone technology into the insurance

News Insurance

XL Group combined ratio up nearly 8 points in Q4 2015 to 92.3% from 84.5% in Q4 2014

February 8, 2016 by Canadian Underwriter

Dublin, Ireland-based XL Group plc has reported a P&C combined ratio of 92.3% for the fourth quarter of 2015 ending Dec. 31, up from 84.5% in the prior year quarter, and a full-year 2015 P&C combined ratio of 92%, compared

News CatastrophesInsurance

Munich Re’s consolidated result 3.1 billion euros in 2015, in line with 2014

February 8, 2016 by Canadian Underwriter

Provisional calculations indicate Munich Re will post a consolidated result of 3.1 billion euros for 2015, down just slightly from what was regarded as the very good result of 3.2 billion euros in 2014. Provisional calculations show that in the

News CatastrophesInsurance

Over 100 missing, 14 dead as strong quake rattles Taiwan

February 6, 2016 Gladys Tsai - THE ASSOCIATED PRESS

TAINAN, Taiwan – Rescuers were searching late Saturday for more than 100 people still missing after a powerful, shallow earthquake struck southern Taiwan before dawn, causing a high-rise residential building to collapse and killing at least 14 people. Nearly 340

News CatastrophesInsurance

Preparation key to helping reduce losses from catastrophes, improving claims experience

February 3, 2016 Jason Contant, Online Editor

The flooding in southern Alberta in 2013 has better prepared claims executives for another major catastrophe, speakers suggested on Tuesday at the inaugural Canadian Catastrophe Conference. “You think you are ready, but you’re never quite ready for what was to

News CatastrophesInsurance

Munich Re, Metabiota enter into long-term cooperation agreement for risk transfer solutions for epidemic risks

February 1, 2016 by Canadian Underwriter

Reinsurer Munich Re announced on Monday that it has entered into a long-term cooperation agreement with Metabiota, a San Francisco-based company that has pioneered the use of real-time data collection and comprehensive risk analytics for epidemics. Metabiota uses a staff