Keyword
Reinsurance
Hurricane Joaquin intensifies as it tracks through Bahamas, insured losses could be limited: AIR Worldwide
October 2, 2015 by Canadian UnderwriterThe transforming Hurricane Joaquin slowly tracking through the Bahamas is reminiscent of Hurricane Irene four years ago, but the latest storm is affecting Bahamian islands where insurance up-take is low, which will help limit insured losses, suggests a statement issued…
Canadian economy to grow in Q3, Q4 and next year, predicts Swiss Re’s chief economist
October 1, 2015 Jason Contant, Online EditorCanada could see a “moderate” 3% economic growth in the third and fourth quarters of this year and 2% next year, Swiss Re’s chief economist suggested during a presentation at the National Insurance Conference of Canada (NICC) in downtown Montreal…
Q3 2015 cat bond market totalled nearly US$700 million in issuance: PCS
September 30, 2015 by Canadian UnderwriterThe Q3 2015 catastrophe bond market has seen an “interesting mix of activity, though light,” totalling nearly US$700 million in issuance, including the cat bond lite space, Property Claim Services (PCS) said in a report released on Wednesday. PCS, a…
Towers Watson develops financial modelling application for Canadian p&c insurers
September 29, 2015 by Canadian UnderwriterGlobal professional services company Towers Watson has announced the development of an application within its Igloo financial modelling suite specifically tailored for property & casualty insurers in Canada. The application is designed to help Canadian insurers “efficiently use comprehensive, full-function…
PartnerRe shareholders to vote on proposed takeover by EXOR
September 29, 2015 by Canadian UnderwriterBermuda insurer PartnerRe Ltd. announced Monday that its shareholders will vote Nov. 19 on a proposed US$6.9 billion acquisition by EXOR S.p.A. EXOR originally offered to buy PartnerRe two months after PartnerRe’s board of directors recommended a merger with Axis…
Some familiar, some less familiar natural disasters could prove costly
September 28, 2015 Angela Stelmakowich, EditorAsked to consider the type of natural disasters that could potentially have a big impact on Canadians – resulting in billions of dollars of losses, insured and not – it would not be surprising if ice storms made the list,…
A.M Best observes ‘huge amount’ of reinsurance merger and acquisition activity
September 25, 2015 by Canadian Underwriter2014 was a “very tough” catastrophe year for Canadian insurers, while mergers and acquisitions are “on the minds” of managers for global reinsurance firms, analysts for A.M. Best Company Inc. told Canadian insurance professionals Thursday in Toronto. “All of a…
New Canadian flood map program seeks to help provide true flood risk for insurers, others
September 24, 2015 by Canadian UnderwriterFlood Risk Canada, Inc. (FRC) has launched a new program designed to allow insurers, lenders and property owners to receive accurate and current flood hazard and flood risk data for commercial, residential and mixed-use properties in Canada. FRC reports the…
Zurich’s preliminary estimate of its expected Tianjin losses US$275 million
September 24, 2015 by Canadian UnderwriterZurich Insurance Group has announced it currently estimates aggregate losses of about US$275 million in connection with mid-August’s series of explosions at a container storage station in the Port of Tianjin in China. The US$275 million estimate for Tianjin losses…
Aon Benfield identifies seven emerging risk opportunities for insurance growth
September 21, 2015 by Canadian UnderwriterAon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, has identified seven emerging risks that present re/insurers with business opportunities over the next five to 10 years: United States mortgage credit, the sharing economy, reputation and brand,…
U.S. study explores ways to build resilience to wildfire, recommends developing a sustainable strategy: Swiss Re
September 18, 2015 by Canadian UnderwriterMost states in the United States lack a sustainable financial strategy to respond to the changing climate landscape, including wildfires, notes a study released Thursday by Swiss Re and Johns Hopkins School of Advanced International Studies (SAIS). “Although individual decision-makers…
Chile quake’s estimated losses high, damage to several coastal towns
September 18, 2015 by Canadian UnderwriterThe U.S. Geologic Society is reported to have made a loss estimate from the 8.3-magnitude earthquake in Chile on Sept. 16 – emphasizing it is early on and the range is far from concrete – of as much as US$1…