Canadian Underwriter

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Reinsurance


Feature Mergers and AqcuisitionsTechnology

Captive Audience

March 1, 2017 Greg Meckbach, Associate Editor

There is an increased interest in using captives to cover cyber risk. With cyber risk changing so rapidly, contributing to making the risk difficult to underwrite, some industry experts expect that interest to grow.

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Berkshire Hathaway reports US$45.9 billion in insurance premiums earned for 2016, up more than US$4 billion from 2015

February 27, 2017 by Canadian Underwriter

Berkshire Hathaway Inc. has reported insurance premiums earned for 2016 of US$45.88 billion, up from US$41.29 billion in 2015. Omaha-Neb.-based Berkshire Hathaway has also reported Insurance-underwriting operating earnings of US$548 million for the fourth quarter of 2016 ending Dec. 31,

News CatastrophesEarnings / RatingsInsuranceMergers and Aqcuisitions

Co-operators General Insurance Company net income $128.8 million in 2016 Q4, up from $103.3 million in 2015 Q4

February 16, 2017 by Canadian Underwriter

The consolidated net income for Co-operators General Insurance Company increased for the fourth quarter of 2016 over the same quarter in 2015, but net income for 2016 decreased from 2015. The Co-operators has posted net income of $128.8 million for

News CatastrophesClimate ChangeInsuranceReinsuranceTechnology

Reinsurers face challenging market conditions, technology to play important role: Novarica

January 31, 2017 by Canadian Underwriter

Reinsurers can expect huge losses from man-made and natural catastrophes, open-ended liabilities like asbestos and terrorism, and developing creative technology solutions to become increasingly important in future, Novarica notes in a new report. The new challenges are in the wake

News AssociationsCatastrophesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

Canada becoming less attractive option for investors: Cook

January 11, 2017 by Angela Stelmakowich

Anticipated less-than-stellar financial results for Canada’s property and casualty industry in 2016 will likely contribute to the market becoming less attractive to investors and absent significant improvement, it is unlikely the current level of capital will remain in the country,

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

2016 Q4 preliminary loss estimate for natural catastrophes US$245 million: XL Group

January 10, 2017 by Canadian Underwriter

XL Group Ltd.’s insurance and reinsurance segments are almost evenly split with regard to accounting for the company’s approximately US$245 million, natural catastrophe net loss estimate for the fourth quarter of 2016. The preliminary loss estimate “is pre-tax and net

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Catastrophe bond issuance has ‘gradually tapered off:’ A.M. Best

January 7, 2017 by Canadian Underwriter

The entry of third-party capital into the reinsurance market appears to be slowing down, while demands from reinsurers “for further concessions in terms” appear to be diminishing, A.M. Best Company Inc. suggested in a report released Friday. Oldwick, N.J.-based A.M.

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Record new Cat bond, ILS issuance in 2016 spurs highest-ever outstanding market size: Artemis.bm

January 3, 2017 by Canadian Underwriter

Catastrophe bonds and similarly structured insurance-linked securities (ILS) deals in 2016 propelled the market to record levels, with the approximately US$7 billion in new issuance resulting in an outstanding market size of US$26.82 billion at year-end, notes the latest edition

Feature CatastrophesInsuranceReinsurance

Beyond Fort Mac

January 1, 2017 Tom Johansmeyer, Assistant Vice President, PCS Strategy and Development; and Ted Gregory, Director of PCS Operations, Verisk Insurance Solutions

Property Claim Services Canada has designated nine catastrophe events in Canada in 2016. Though most of the $4.9 billion insured loss arose from the Alberta wildfires, the data indicates hail and thunderstorms events are becoming more severe.

News Earnings / RatingsInsuranceReinsurance

A.M. Best maintains global reinsurance sector outlook at negative

December 13, 2016 by Canadian Underwriter

A.M. Best Company is holding its outlook for the global reinsurance sector at negative, citing the continued market challenges that will hinder the potential for positive rating actions over time and may eventually translate into negative rating pressures. The Best’s

News InsuranceMarkets / CoveragesMergers and AqcuisitionsReinsuranceTechnology

Swiss Re plans to expand R&D capabilities to efficiently allocate capital into growing risk pools

December 2, 2016 by Canadian Underwriter

Swiss Re’s stronger focus on and investment in research and development (R&D) to identify risk pools, as well as its move to further leverage technology, seeks to meet the twin goals of facilitating enhanced client support and creating competitive advantage.

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

PERILS AG almost doubles initial property loss estimate for Central Italy earthquake

November 24, 2016 by Canadian Underwriter

PERILS AG’s second loss estimate for insured property loss associated with Central Italy’s earthquake in August has almost doubled from 34 million euros to 66 million euros. The third loss estimate for the quake is scheduled to be published Feb.