Keyword
Reinsurance
Share of AIG’s new and renewal U.S. Casualty portfolio to be ceded to Swiss Re
March 10, 2016 by Canadian UnderwriterAmerican International Group, Inc. (AIG) announced on Wednesday that it has entered into a two-year reinsurance arrangement with Swiss Re, under which a share of AIG’s new and renewal U.S. Casualty portfolio will be ceded to the reinsurer. The arrangement…
More political risk reductions than increases on Aon’s 2016 emerging markets map
March 9, 2016 by Canadian UnderwriterFor the first time in the last three years, more countries on the Aon Political Risk Map 2016 for emerging markets show political risk reductions than increases, although continued low oil prices is exacerbating political risk in already-fragile states. “Anti-corruption…
U.S. Federal Insurance Office requests voluntary data from insurers on participation in Terrorism Risk Insurance Program
March 8, 2016 by Canadian UnderwriterThe U.S. Department of the Treasury’s Federal Insurance Office (FIO) has published a notice in the Federal Register requesting that insurers voluntarily submit certain insurance data and information regarding their participation in the Terrorism Risk Insurance Program (TRIP). Section 111…
XL Catlin appoints Nick Greggains as CEO of Canadian insurance operations
March 4, 2016 by Canadian UnderwriterXL Catlin announced on Friday the appointment of Nick Greggains as chief executive officer of XL Catlin’s Canadian insurance operations. In his new role, Greggains leads XL Catlin’s regional business strategy and guides the development and delivery of innovative insurance…
GC Securities completes cat bond notes on behalf of XL Insurance
March 4, 2016 by Canadian UnderwriterFor the first time since XL Group plc’s acquisition of Catlin Group Limited, XL Catlin has utilized the 144A cat bond market as part of catastrophe bond Galileo Re Ltd., which provides aggregate protection against, among other things, earthquakes affecting…
XL Group proposes to relocate from Ireland to Bermuda
March 1, 2016 by Canadian UnderwriterTen 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…
JLT Group’s underlying profit down 7% to 170.1 million in 2015
March 1, 2016 by Canadian UnderwriterPlanned 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…
Berkshire Hathaway insurance-underwriting earnings up to $306 million in Q4 2015 from $191 million in Q4 2014
February 29, 2016 by Canadian UnderwriterBerkshire 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…
Swiss Re sees 2015 net income increase 31% to US$4.6 billion compared to 2014
February 23, 2016 by Canadian UnderwriterAll 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…
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 UnderwriterThe 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…
Combined ratio for U.S. p&c to increase 1.2 points in 2016: A.M. Best
February 19, 2016 by Canadian UnderwriterThe 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…
Combined ratio improves 3.7 points for Northbridge Insurance
February 18, 2016 by Canadian UnderwriterToronto-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…