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XL Group proposes to relocate from Ireland to Bermuda

March 1, 2016 by Canadian Underwriter

Ten months after it completed its acquisition of Catlin Group Ltd., insurance carrier XL Group plc is proposing to change its place of incorporation to Bermuda. XL’s principal offices are currently in Dublin, Ireland. In Canada, XL’s coverages include commercial

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JLT Group’s underlying profit down 7% to 170.1 million in 2015

March 1, 2016 by Canadian Underwriter

Planned investment in its United States business contributed to Jardine Lloyd Thompson Group plc’s underlying profit before tax falling 7% to £170.1 million in 2015, preliminary results show, but the company reports its overall momentum was sustained despite the challenging

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Berkshire Hathaway insurance-underwriting earnings up to $306 million in Q4 2015 from $191 million in Q4 2014

February 29, 2016 by Canadian Underwriter

Berkshire Hathaway has reported insurance-underwriting earnings of US$306 million for the fourth quarter of 2015 ending Dec. 31, 2015, up from US$191 million in the same quarter in 2014. However, for the full-year 2015, earnings were US$1.162 billion, down from

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Swiss Re sees 2015 net income increase 31% to US$4.6 billion compared to 2014

February 23, 2016 by Canadian Underwriter

All of Swiss Re’s business units contributed positively – although Life and Health (L&H) Reinsurance was a standout – to the 31% increase in net income of US$4.6 billion in 2015 compared to US$3.5 billion in 2014. “The result benefited

News InsuranceMergers and Aqcuisitions

U.S. P&C industry expected to post third consecutive underwriting profit in 2015, despite slight deterioration in combined ratio: A.M. Best

February 23, 2016 by Canadian Underwriter

The property and casualty industry in the United States is expected to produce a third consecutive underwriting profit in 2015, despite a slight deterioration in the combined ratio as rate increases slow and the level of favourable loss reserve development

News CatastrophesInsuranceMergers and Aqcuisitions

Combined ratio for U.S. p&c to increase 1.2 points in 2016: A.M. Best

February 19, 2016 by Canadian Underwriter

The combined ratio will rise from 98% in 2015 to 99.2% for the property and casualty insurance industry in the United States, while for the U.S. and Bermuda reinsurance industry, the combined ratio will deteriorate by 6.7 points, A.M. Best

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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

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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

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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

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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