Canadian Underwriter

Keyword
Reinsurance


Feature InsuranceMarkets / Coverages

Death of the Pricing Cycle?

July 1, 2016 Sean van Zyl, Freelance Writer

The medieval nursery rhyme, ring a ring o’ roses, depicting the ravages of the black plague, could well represent a metaphor for the property and casualty insurance industry’s past erratic pricing behaviour. Now, with a record level of excess capital awash in the global marketplace, has the historical pricing cycle been broken forevermore?

Feature CatastrophesInsurance

Within the Margins

July 1, 2016 Greg Meckbach, Associate Editor

Some reinsurers use the catastrophe models of third-party vendors; others have opted to develop their own internal models to estimate losses. But despite significant improvements in data collection and computing power, there will always be some level of uncertainty in Cat models, especially those attempting to predict losses from human-induced disasters like cyber attacks or nuclear terrorism.

News Earnings / RatingsInsuranceMergers and Aqcuisitions

Flood losses expected to dampen French, German insurers’ first-half earnings: A.M. Best

June 21, 2016 by Canadian Underwriter

Flood losses in the wake of storms Elvira and Friederike in late May and early June are not expected to result in ratings actions, but it is anticipated they will hit first-half results for French and German insurers, notes a

News CatastrophesEarnings / RatingsMergers and Aqcuisitions

Economical Insurance initially estimates $35 million to $45 million in losses from Fort McMurray wildfire

May 11, 2016 by Canadian Underwriter

Economical Insurance estimates its pre-tax losses related to the Fort McMurray wildfire will be $35 million to $45 million, net of reinsurance recoveries and reinstatement premiums. Economical Insurance said in a statement on Wednesday that its catastrophe reinsurance coverage commences

Hannover Re released its financial results for Q1 2016
News CatastrophesEarnings / RatingsInsurance

Hannover Re’s 2016 Q1 net income down without elimination of positive special effect in prior-year quarter, up 12.7% with elimination

May 10, 2016 by Canadian Underwriter

Hannover Re’s sharply improved underwriting results in property and casualty reinsurance for 2016 Q1 – coupled with the elimination of a positive special effect in 2015 Q1 – helped the world’s third largest reinsurer post a 12.7% hike in Group

News CatastrophesEarnings / RatingsInsurance

Reinsurance company SCOR’s net income falls slightly to 170 million euros in the first quarter of 2016 compared to prior-year quarter

April 27, 2016 by Canadian Underwriter

Despite a low natural catastrophe-loss environment that helped SCOR’s Global Property and Casualty segment record strong technical profitability and a solid contribution from the Life segment for gross written premiums, the company’s net income fell slightly to 170 million euros

News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

Everest Re Group’s net income almost halved to US$171.7 million in 2016 Q1 from prior-year quarter

April 26, 2016 by Canadian Underwriter

Net income available to common shareholders of Everest Re Group Ltd. was US$171.7 million in the first quarter of 2016 compared to US$323.0 million in the same quarter of 2015, the company reported Monday. The after-tax operating income available to

News Insurance

Combined ratio up 7.9 points at Allied World

April 21, 2016 by Canadian Underwriter

Allied World Assurance Company Holdings AG reported Tuesday its combined ratio deteriorated 7.9 points, from 88.1% during the first quarter of 2015 to 96% in the three months ending March 31, while net premiums written dropped 8.9%. Zug, Switzerland-based Allied

News CatastrophesInsurance

$25B in outstanding cat bonds as of March 31: Aon Benfield

April 21, 2016 by Canadian Underwriter

Overall investor demand remains high in the insurance-linked securities market, with US$2.215 billion in new issuance of catastrophe bonds – one of which covers Canadian earthquake risk – in the first three months of 2016, Aon plc reported Wednesday. Chicago-based

News CatastrophesInsuranceTechnology

RMS launches app to model ‘cat-in-a-box’ deals

April 7, 2016 by Canadian Underwriter

Risk Management Solutions, Inc. (RMS) announced on Thursday that it has released the “first ever” app to model ‘cat-in-a-box’ deals. The cloud-based app extends the ability to independently assess and underwrite parametric contracts from a small group of cedant, brokers

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Canada in better position than most to close protection gap, collaboration key: Scotti

April 6, 2016 by Angela Stelmakowich

“Canada is in a better position than many other countries to actually close its protection gap,” Veronica Scotti, president and CEO of Swiss Re Canada, said Wednesday during Swiss Re’s Canadian Insurance Outlook in downtown Toronto. “Sometimes it takes an

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and AqcuisitionsTechnology

Canada’s p&c industry sees big jump in underwriting income, big drop in nat-cat losses in 2015: IBC

April 6, 2016 by Angela Stelmakowich

Despite the challenges and fluctuations of 2015 – including plummeting oil prices – Canada’s property and casualty industry “had a relatively good year,” with underwriting income tripling to about $1.7 billion, David McGown, senior vice president of strategic initiatives for