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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

News InsuranceMergers and Aqcuisitions

Combined ratio for U.S. P&C industry improves 0.4 points to 97.2% through the third quarter of 2015: A.M. Best

January 18, 2016 by Canadian Underwriter

The property and casualty industry in the United States continued to post favourable underwriting and operating results through the third quarter of 2015, with the combined ratio improving 0.4 points to 97.2 compared with its prior-year mark, ratings firm A.M.

News CatastrophesInsuranceMergers and Aqcuisitions

Initial U.K. loss estimate is 717 million for flooding following December storm: PERILS

January 15, 2016 by Canadian Underwriter

The United Kingdom losses for Desmond – the December storm that brought record-breaking rainfall and subsequent flooding to parts of the U.K. – have been estimated at £717 million, PERILS AG reported Friday. Representing the first of four loss estimates

News InsuranceMergers and Aqcuisitions

ACE completes Chubb acquisition; adopts Chubb name and launches new Chubb brand

January 14, 2016 by Canadian Underwriter

ACE Limited announced on Thursday that it has completed its acquisition of Chubb, creating the world’s largest publicly traded property and casualty insurance company. ACE paid approximately US$29.5 billion in the aggregate in cash and stock, based on the most

News CatastrophesInsuranceMergers and Aqcuisitions

Insurance payout for 2015 natural disasters 31% below average: Aon Benfield

January 13, 2016 by Canadian Underwriter

Insured losses for global natural disasters in 2015 were 31% below the 15-year average of US$51 billion, the lowest annual insured loss total since 2009, Aon Benfield’s catastrophe model development team said on Wednesday. According to Impact Forecasting’s Annual Global

News InsuranceMergers and Aqcuisitions

Overland flood template preferred option over inconsistent offerings: Cook

January 13, 2016 by Canadian Underwriter

Angela Stelmakowich, Editor

News CatastrophesClimate ChangeInsurance

Canada’s p&c industry projected to see underwriting profit for 2015; capital will follow opportunity: Cook

January 12, 2016 Angela Stelmakowich, Editor

“Capital tends to follow opportunity,” and while Canada is currently viewed as a region affording opportunity, the property and casualty insurance industry here could experience significant pressure if investors start regarding other areas as greener pastures, Philip Cook, CEO of

News Insurance

Dedicated reinsurance capacity likely to remain flat: A.M. Best

January 11, 2016 by Canadian Underwriter

Ratings firm A.M. Best Company said on Monday that it expects that dedicated reinsurance capacity, which includes US$68 billion of convergence capacity, will likely remain flat at an estimated US$400 billion in 2015 compared with the previous year. A.M. Best,