Keyword
Reinsurance
EXOR deal ‘may not be the end of the discussion’ on fate of PartnerRe: A.M. Best
September 17, 2015 by Canadian UnderwriterPartnerRe Ltd.’s announcement last month that its board recommends shareholders approve an acquisition by EXOR S.p.A. “may not be the end of the discussion” on whether PartnerRe will be actually acquired by EXOR or whether PartnerRe would merge with rival insurer…
Magnitude 8.3 earthquake hits Chile, prompts tsunami warning
September 17, 2015 Luis Andres Henao - THE ASSOCIATED PRESSILLAPEL, Chile – Thousands of residents of this small city in northern Chile were sleeping outside Thursday after a powerful earthquake destroyed their homes, forced more than 1 million to evacuate and killed at least eight people in the quake-prone…
Sea level rise may challenge some local governments in U.S., spur higher insurance rates for citizens: Fitch Ratings
September 17, 2015 by Canadian UnderwriterThe rise in sea levels in the long term – made worse by event risks such as hurricanes and storm surges – may pressure the operations, capital funding requirements and indebtedness of some local governments in the United States, Fitch…
Cyber insurance market could increase to at least $7.5 billion by 2020, cyber resilient approach urged: PwC
September 16, 2015 by Canadian UnderwriterThe global demand for cyber insurance presents a huge commercial opportunity for insurers and reinsurers – estimated to be at least US$7.5 billion by the end of the decade – but with that opportunity comes risks that could be potentially…
Hannover Re anticipates rising demand in treaty renewals at Jan. 1, 2016
September 15, 2015 by Canadian UnderwriterProperty and casualty reinsurance worldwide is seeing a reduction in the oversupply of reinsurance capacity compared to the previous year despite the continuing highly competitive environment, Hannover Re CEO Ulrich Wallin said Monday during a press conference in Monte Carlo.…
Everest Re gets approval in principle to create new Lloyd’s syndicate
September 15, 2015 by Canadian UnderwriterEverest Re Group Ltd. plans to start writing insurance in the Lloyd’s market. The Hamilton, Bermuda-based insurer announced the Lloyd’s Franchise Board has approved, in principle, the creation of Everest Syndicate 2786. “The new syndicate provides Everest with a platform…
PartnerRe directors reaffirm recommendation to be bought by EXOR
September 15, 2015 by Canadian UnderwriterPartnerRe Ltd. announced Tuesday its board “reaffirms” its recommendation to be acquired by EXOR S.p.A. now that a “go shop” period has expired without any other acquisition proposals. Pembroke, Bermuda-based PartnerRe, which has a branch office in Toronto, writes reinsurance…
Profits for Canadian p&c insurance companies endure despite challenging market conditions: A.M. Best
September 15, 2015 by Canadian UnderwriterCanada’s property and casualty insurance market – faced with challenging market dynamics and unforeseen headwinds like the steep decline in global oil prices – remains resilient, prompting A.M. Best to maintain a stable rating outlook for the industry as a…
Marine cat model includes vulnerability curves for cargo
September 14, 2015 by Canadian UnderwriterAon Benfield announced Monday a catastrophe model, for marine and energy insurers, which includes databases on major ports and vulnerability curves for different types of cargo. London-based Aon plc stated that its reinsurance intermediary unit partnered with Risk Management Solutions…
Challenging market conditions continue to put pressure on reinsurance pricing: Guy Carpenter
September 14, 2015 by Canadian UnderwriterAbundant capacity, the influx of new capital and limited loss experience is keeping the pressure on reinsurance pricing, terms and conditions, Alex Moczarski, president and CEO of Guy Carpenter & Company, LLC and chairman of Marsh & McLennan Companies International,…
Reinsurance capital growth eases as M&A, active capital management accelerate: Willis Re
September 11, 2015 by Canadian UnderwriterThe latest Reinsurance Market Report from Willis Re shows that significant over-capacity and widespread pricing pressure has stabilized the growth in global capital from traditional and non-traditional sources dedicated to reinsurance in 2015 H1, which remains unchanged from the US$425…
Lloyd’s 2015 first-half profit of 1.19 billion compares to 1.65 billion in 2014 H1
September 10, 2015 by Canadian UnderwriterExpert underwriting and rigorous oversight has helped Lloyd’s achieve pre-tax profit of £1.19 billion during the first half of 2015, although the figure is down from “exceptional high” of £1.65 billion for the first six months of 2014. At June…