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News Earnings / RatingsInsuranceMarkets / Coverages

Jardine Lloyd Thompson Group’s £36.2 million profit for 2016 H1 half of prior-year period: interim results

July 27, 2016 by Canadian Underwriter

Collaboration among its Specialty operations around the world is driving organic revenue growth for Jardine Lloyd Thompson Group plc (JLT), but the £36.2 million in profit for the first half of 2016 is half the £77.7 million for the same

News CatastrophesClimate ChangeEarnings / RatingsInsuranceTechnology

Endurance’s estimated financial impact of several Cat events in 2016 Q2, including Alberta wildfires, is US$55.5 million

July 15, 2016 by Canadian Underwriter

Bermuda-based Endurance Specialty Holdings Ltd. reported Thursday that the company’s initial estimated net negative financial impact of several catastrophic events in 2016 Q2, including the wildfires in Alberta, is US$55.5 million. The events included in the initial estimate include the

News Earnings / RatingsInsuranceTechnology

Persisting low interest rates, regulatory cost concerns expected to result in lower returns: U.S. insurers

July 15, 2016 by Canadian Underwriter

About three-quarters of polled insurers south of the border “have lowered their target return-on-equity expectations to 10% or lower,” notes a new special report released Thursday by A.M. Best. The lowered expectations are “a reflection of highly competitive market conditions

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

XL Group’s preliminary loss estimate for nat-Cats in 2016 Q2 US$240 million, Fort Mac wildfires largest loss

July 14, 2016 by Canadian Underwriter

XL Group plc’s preliminary net loss estimate relating to natural catastrophes – including the largest single loss from the Alberta wildfires – is US$240 million for the second quarter of 2016, the company announced Wednesday. This estimate – pretax and

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Non-life catastrophe bond issuance hits US$2.8 billion: WCMA

July 12, 2016 by Canadian Underwriter

Market issuance of non-life catastrophe bonds for the first half of the year amounted to US$2.8 billion, with six transactions in the second quarter accounting for US$1 billion of capacity, notes a report from Willis Capital Markets & Advisory (WCMA).

News AssociationsCatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

XL Catlin sponsors deep ocean survey to better understand climate change impacts

July 6, 2016 by Canadian Underwriter

XL Catlin will sponsor a new scientific survey to research the deep ocean, information from which will hopefully shed light on the potential impact of climate change and the risks that businesses, society and ecosystems will face in future. The

News CatastrophesInsuranceMarkets / CoveragesMergers and Aqcuisitions

Widespread reinsurance pricing stabilization remains elusive: Willis Re

July 4, 2016 by Canadian Underwriter

Any indication of widespread reinsurance pricing stabilization remains elusive amidst an environment of continuing market softening in the June/July renewal season, lack of catastrophe losses and abundant capacity across virtually all classes and territories, notes a new report issued Friday

Feature Markets / Coverages

Tipping Point

July 2, 2016 Richard Clark, Business Development Director, Xuber, a CSC company

It appears that surveyed reinsurers have finally reached the technology tipping point. Digitization is now seen as key to the change that must unfold. It is believed that those who quickly move to create solutions that are grounded in modern technology, taking into account how insurance is bought, sold and managed, will be the most likely winners.

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