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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

News Insurance

Bermuda (re)insurance M&A likely to persist, ratings outlook for U.S. p&c and global reinsurance stable

January 28, 2016 by Canadian Underwriter

The pace will slow from 2015, but mergers and acquisitions (M&A) activity and consolidation in the Bermuda insurance market will continue in 2016, notes a new report issued this week by Fitch Ratings. “Organic growth options are limited and scale

News CatastrophesInsurance

Moderated cat bond activity, mixed pricing levels at year-end 2015: GC Securities

January 27, 2016 by Canadian Underwriter

Although 144A property and casualty (P&C) cat bond primary issuance levels were charted as “uncharacteristically low” in the fourth quarter of 2015, totals at year-end were only slightly lower than the all-time high levels seen in 2014, according to GC

News CatastrophesInsurance

Nearly $4 billion in insurance-linked securities to mature before July: Swiss Re

January 24, 2016 by Canadian Underwriter

With nearly US$4 billion worth of insurance-linked securities maturing during the first six months of 2016, Swiss Re Capital Markets Corp. suggests it is “hopeful” there will be new sponsors entering the market this year. In its ILS market update

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Swiss Re, Veolia, The Rockefeller Foundation team up to help build cities’ resilience to critical risks

January 22, 2016 by Canadian Underwriter

The Rockefeller Foundation, Veolia and Swiss Re Corporate Solutions Ltd. have unveiled an infrastructure recovery initiative meant to help cities worldwide build resilience to critical risks and speed up economic recovery following catastrophic events. The partnership is designed to support

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

U.S. p&c insurers can expect a challenging 2016, need to emphasize underwriting discipline: p&c forum

January 20, 2016 by Canadian Underwriter

Property and casualty insurers in the United States can expect a challenging 2016, speakers said at the recent 20th annual Property/Casualty Joint Industry Forum, as the diminishing tailwinds of reserve releases struggle against headwinds of low interest rates. Panel members

News CatastrophesInsuranceMergers and Aqcuisitions

SCOR cat bond covers U.S. named storms, earthquake until end of 2019

January 19, 2016 by Canadian Underwriter

SCOR SE has sponsored a catastrophe bond whose coverage includes earthquakes in Canada, as well as named storms in the United States. The Atlas IX Series 2016-1 will give the Paris-based reinsurer “multi-year risk transfer capacity of US$300 million to