Keyword
Reinsurance
Lloyd’s to launch insurance-based index in 2016
December 16, 2015 by Canadian UnderwriterLloyd’s of London, the world’s specialist insurance and reinsurance market, announced on Wednesday that it plans to launch its own insurance-based index in the summer of 2016. Lloyd’s said in a statement that the release “would be the first index…
Q3 cat bond issuances include earthquake coverage with ‘cat-in-a-box’ trigger
December 15, 2015 by Canadian UnderwriterTotal catastrophe bond issuance was US$21.709 billion as of Sept. 30, and while one issuance in the third quarter provides earthquake coverage in British Columbia, more than 70% of outstanding bonds are exposed to U.S. tropical cyclones and earthquakes, Guy…
No indication yet of ‘terrorist act’ in Russian plane crash: Egyptian investigators
December 14, 2015 Maamoun Youssef - THE ASSOCIATED PRESSCAIRO – A preliminary investigation into the crash of a Russian passenger plane has found no indication yet of any “illegal or terrorist act,” Egypt’s chief investigator said in a statement released Monday. The vaguely worded statement by Ayman el-Muqadam…
RBC reports $958 million in P&C insurance revenue in 2015
December 2, 2015 by Canadian UnderwriterThe Royal Bank of Canada reported Wednesday its property and casualty insurance revenues from Canada were $958 million in the year ending Oct. 31, essentially unchanged from $951 million in 2014. Toronto-based RBC writes P&C insurance through RBC General Insurance,…
Positive underwriting gains expected in 2016 for U.S. commercial lines insurance: Wells Fargo
December 2, 2015 by Canadian UnderwriterDespite rate reductions and low investment returns, commercial lines insurance in the United States is on track for positive underwriting gains in 2016, according to Wells Fargo Insurance’s annual 2016 Market Outlook, released on Wednesday. Favourable losses across most insurance…
Vision that mega-cities nervous systems based on Internet; reality that locations will face nat-cat risk: Allianz SE
December 1, 2015 by Canadian UnderwriterThe mega-city is coming – with two-thirds of the world’s population expected to be city dwellers by 2030 – but this development poses challenges regarding how best to strike a balance between growth, quality of life and climate protection, cautions…
AU$75 million in insured losses so far for South Australia bushfires: council
December 1, 2015 by Canadian UnderwriterWith the number of claims from the South Australian bushfires reaching 525 Monday morning, the Insurance Council of Australia (ICA) reported total insured losses had hit AU$75 million. Declared a disaster by ICA Nov. 26, there are multiple bushfires burning…
Marketplace
December 1, 2015 by Canadian UnderwriterREGULATION Eligible policyholders to vote on demutualization Economical Insurance’s Board of Directors has announced a shareholder vote on demutualization will proceed in mid-December. The announcement comes several months after Ottawa enacted regulations allowing property and casualty insurers to demutualize. Beyond…
2015 Q3 sees tenth consecutive quarterly decline for global insurance rates, casualty rate increases in certain regions driven by cyber
November 25, 2015 by Canadian UnderwriterCommercial insurance rates decreased globally during 2015 Q3 – posting a global composite decline of 4.8% – marking the tenth consecutive quarterly decline, notes the November 2015 edition of Marsh’s Global Insurance Market Quarterly Briefing. Released Tuesday, the briefing shows…
Cyber capability should be on parity with established aspects of terrorist armory: Pool Re
November 23, 2015 by Canadian UnderwriterA potential shift toward cyber terrorism is among the factors contributing to the United Kingdom’s move last week to double funds set aside to combat cyber attacks, Julian Enoizi, chief executive of Pool Reinsurance Company Limited, notes in a recent…
Towers Watson issues letter to stockholders urging support for Willis merger
November 23, 2015 by Canadian UnderwriterGlobal professional services company Towers Watson announced on Monday that it has issued a letter to stockholders urging them to support the merger with Willis Group Holdings. Last week, Willis announced that it had adjourned an Extraordinary General Meeting on…
Fosun International completes acquisition of Ironshore interest
November 23, 2015 by Canadian UnderwriterFosun International Limited has completed its acquisition of the remaining 80% equity interest in Bermuda-based Ironshore Inc., which will become an indirect wholly owned subsidiary of the company. Approvals have been received from all relevant regulatory authorities in the United…