Keyword
Reinsurance
Recent environmental agreements open the door for innovative insurance solutions: Geneva Association
February 16, 2016 by Canadian UnderwriterRecent 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…
Disasters in 2015, the hottest year on record, demonstrate need to adapt to climate change: UNISDR
February 12, 2016 by Canadian UnderwriterWeather 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…
Premiums drop 7.4% at Arch Capital
February 10, 2016 by Canadian UnderwriterInsurance 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…
Loss ratio up 0.4% for Everest Re
February 9, 2016 by Canadian UnderwriterBermuda 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…
Catastrophe premiums down 28.4%, loss ratio down 2.1 points for PartnerRe
February 9, 2016 by Canadian UnderwriterPartnerRe 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…
Willis Re, technology company Measure announce strategic partnership to advance drone usage for insurance industry
February 8, 2016 by Canadian UnderwriterWillis 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…
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 UnderwriterDublin, 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…
Munich Re’s consolidated result 3.1 billion euros in 2015, in line with 2014
February 8, 2016 by Canadian UnderwriterProvisional 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…
Over 100 missing, 14 dead as strong quake rattles Taiwan
February 6, 2016 Gladys Tsai - THE ASSOCIATED PRESSTAINAN, 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…
Preparation key to helping reduce losses from catastrophes, improving claims experience
February 3, 2016 Jason Contant, Online EditorThe 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…
Munich Re, Metabiota enter into long-term cooperation agreement for risk transfer solutions for epidemic risks
February 1, 2016 by Canadian UnderwriterReinsurer 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…
Bermuda (re)insurance M&A likely to persist, ratings outlook for U.S. p&c and global reinsurance stable
January 28, 2016 by Canadian UnderwriterThe 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…