Keyword
Reinsurance
Guy Carpenter names new head of Canadian operations
August 5, 2020 by David GambrillPeter Askew has been named president and CEO of the Canadian business of global reinsurance specialist Guy Carpenter & Company LLC, a business of Marsh & McLennan Companies. Effective immediately, Askew will be responsible for Guy Carpenter’s reinsurance broking activities…
Swiss Re Group books $2.5 billion for pandemic-related losses
July 31, 2020 by David GambrillSwiss Re today reported COVID-19 claims and reserves totalling $2.5 billion across the Group, resulting in a net loss of $1.1 billion in the first half of 2020 (all figures in U.S. dollars). “Based on current information and a prudent…
What reinsurance renewals looked like in July: Willis Re
July 20, 2020 by David GambrillAnyone expecting the global pandemic to cause a dramatic reduction of global capital during 2020 Q2 renewals on July 1 were in for a pleasant surprise, as suggested in a recent report by Willis Re. “Q2 2020 has witnessed a…
Lloyd’s proposes “open source” frameworks for future pandemic coverage
July 6, 2020 by David GambrillLloyd’s of London is proposing three “open-source frameworks” to provide a blueprint for better protecting society against systemic catastrophic events such as pandemics, after noting the market will pay out between $3 billion and $4.3 billion to its global customers…
Aon names new president of Reinsurance Solutions in Canada
May 8, 2020 by David GambrillMatt Wolfe has been appointed the new president of Reinsurance Solutions in Canada, Aon plc announced Friday. “In his new role, Matt will lead the Canadian Reinsurance solutions team and bring unmatched analytics and insights to clients across the country,”…
What the new reinsurance rules could look like for Canada
February 27, 2020 by Greg MeckbachCanada’s federal insurance regulator will probably impose a policy limit rule, but one that will look different from a controversial rule initially proposed in 2018, a lawyer familiar with insurance solvency rules told Canadian Underwriter. “There has not really been…
When OSFI will reissue proposed draft reinsurance rules
January 21, 2020 by Jason ContantThe Office of the Superintendent of Financial Institutions (OSFI) could be reissuing a new draft of its proposed new reinsurance rules “within the next few weeks,” a property and casualty insurance industry veteran predicted last week. “I believe OSFI will…
One ray of light in the hard market
January 6, 2020 by Jason ContantDespite signs of hardening in certain reinsurance markets, and certainly in the primary market, general third-party liability treaties represents a silver lining in the cloud. “Many general third-party liability treaties are ancillary to traditional property treaties and have generally remained…
What reinsurance renewals on Jan. 1 told us about the market
January 2, 2020 by David GambrillReinsurance renewals at Jan. 1, 2020 reflected an “asymmetrical” market, featuring a mixed bag of rate increases or decreases (depending on the specific business line or territory), as well as significant rate increases in the retrocession markets, according to Guy…
Heat Map
November 3, 2019 Greg Meckbach, Associate EditorReinsurers bore a large portion of the Fort McMurray wildfire losses. Now, they want better data on Canada’s high-risk areas
OSFI, industry step back from the brink on proposed new reinsurance rules
October 29, 2019 by David GambrillIt appears that there has been a proverbial “last-minute call from the governor” regarding controversial new rules proposed by Canada’s solvency regulator as part of its reinsurance review. The Office of the Superintendent of Financial Institutions (OSFI) has made it…
How reinsurers benefit from the market turn
October 9, 2019 by Jason ContantWith primary insurance companies seeking higher rates since the beginning of the year, proportional reinsurance programs are benefiting directly from these rate improvements, Joseph El-Sayegh, president and CEO of SCOR Canada Reinsurance Company, told Canadian Underwriter Wednesday. In proportional reinsurance,…