Keyword
Reinsurance
P&C premiums up 17%, combined ratio improves 0.8 points for SCOR
November 4, 2015 by Canadian UnderwriterDespite a 28 million euro onshore energy claim, a massive explosion in the Chinese port of Tianjin and a major earthquake hitting Chile, French reinsurer SCOR SE reported Wednesday its third-quarter combined ratio improved nearly a point from 2014. Paris-based…
Hannover Re posts Group net income of 786.0 million euros in 2015 Q3, up from 695.4 million euros in prior-year quarter
November 4, 2015 by Canadian UnderwriterHannover Re reports being well on track for solid year-end financial results, announcing Wednesday that Group net income was 786.0 million euros in 2015 Q3, a 13% increase over the 695.4 million euros in the prior-year quarter. The already good…
Reinsurance organic revenue drops 4% for Aon
November 1, 2015 by Canadian UnderwriterAon plc reported Friday its risk solutions revenue dropped 8%, from $1.836 billion in the third quarter of 2014 to $1.689 billion in the three months ending Sept. 30, 2015, due in part to the unfavourable impact of foreign currency…
Insuring Black Holes
November 1, 2015 Joseph Brandonisio, Senior Vice President, Guy Carpenter; and Glenn McGillivray, Managing Director, Institute for Catastrophic Loss ReductionGovernments and (re)insurers need to better collaborate to leverage the industry’s risk management expertise and access to capital to lighten the financial burden placed on taxpayers as a result of natural catastrophes.
Anatomy of a Cat Plan
November 1, 2015 Joe Colby, Senior Vice President and Head of Claims, Canada & English Caribbean, Swiss ReWhat are the key elements of a best-in-class catastrophe plan? Not only do businesses need to look inward to determine company-specific risks andexposures, but also look outward to see how lessons learned elsewhere can be employed
Model Behaviour
November 1, 2015 Patti Ristich, Partner, R2 communications Inc.The unprecedented growth of mega-cities and the changing environment mean the Cat risk business is growing. With that, risk modelling – fuelled by lessons learned and the availability of data – could serve as an increasingly important tool for how insurers and reinsurers calculate expected loss.
Blast Radius
November 1, 2015 Angela Stelmakowich, EditorIt may be that it becomes the blast felt around the world. The reverberations from the August 12 explosions in China’s Port of Tianjin – believed to be the result of a warehouse fire that sparked an explosion that then…
Tipping Point?
November 1, 2015 by Canadian UnderwriterThe relative calm for the (re)insurance industry cannot last forever. Catastrophes will happen and disruptive conditions persist, subjecting the market to continuing and accumulating pressure. Despite still positive returns, how long can the reinsurance industry hold out before this pressure necessitates in material change? Is the industry at, or nearing, its tipping point?
Fairfax reports underwriting profit down 15.1% for OdysseyRe, combined ratio improves 8.8 points at Northbridge Insurance
October 30, 2015 by Canadian UnderwriterExplosions Aug. 12 in the Chinese port of Tianjin contributed 9.5 points to OdysseyRe’s combined ratio in the quarter ending Sept., 30, the insurer’s parent company reported Thursday, while Toronto-based Northbridge Insurance had a 9.1% drop in Q3 net premiums…
Guy Carpenter report examines new approaches to risk financing
October 29, 2015 by Canadian UnderwriterThe creation of private sector pre-financing options will migrate management of catastrophes to insurance and reinsurance companies, where claims handling and risk management are at the core of their operations, according to a new public sector risk report from Guy…
Arch reports growth in construction insurance business, increase in attritional large losses in reinsurance
October 29, 2015 by Canadian UnderwriterArch Capital Group Ltd. has reported a 2.2-point improvement in its Q3 insurance combined ratio and a 5.8-point deterioration in its reinsurance combined ratio, while Q3 gross written premiums increased 3.5% year over year. Hamilton, Bermuda-based Arch released Wednesday its…
Swiss Re reports 12% increase in net income to US$3.7 billion
October 29, 2015 by Canadian UnderwriterGlobal reinsurer Swiss Re has reported a 12% increase in net income to US$3.7 billion for the first nine months of 2015, US$1.4 billion of which was earned in the third quarter. Swiss Re said in a statement on Thursday…