Canadian Underwriter

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Reinsurance


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Hannover Re’s net income of 1.15 billion euros in 2015 represents best-ever year for company

March 11, 2016 by Canadian Underwriter

Strong results for both property and casualty reinsurance and life and health reinsurance contributed to Hannover Re’s record profit in 2015, posting Group net income of 1.15 billion euros for the year and handily beating its profit target, notes a

News InsuranceMergers and Aqcuisitions

Share of AIG’s new and renewal U.S. Casualty portfolio to be ceded to Swiss Re

March 10, 2016 by Canadian Underwriter

American International Group, Inc. (AIG) announced on Wednesday that it has entered into a two-year reinsurance arrangement with Swiss Re, under which a share of AIG’s new and renewal U.S. Casualty portfolio will be ceded to the reinsurer. The arrangement

News Insurance

More political risk reductions than increases on Aon’s 2016 emerging markets map

March 9, 2016 by Canadian Underwriter

For the first time in the last three years, more countries on the Aon Political Risk Map 2016 for emerging markets show political risk reductions than increases, although continued low oil prices is exacerbating political risk in already-fragile states. “Anti-corruption

News InsuranceMergers and Aqcuisitions

U.S. Federal Insurance Office requests voluntary data from insurers on participation in Terrorism Risk Insurance Program

March 8, 2016 by Canadian Underwriter

The U.S. Department of the Treasury’s Federal Insurance Office (FIO) has published a notice in the Federal Register requesting that insurers voluntarily submit certain insurance data and information regarding their participation in the Terrorism Risk Insurance Program (TRIP). Section 111

News Insurance

XL Catlin appoints Nick Greggains as CEO of Canadian insurance operations

March 4, 2016 by Canadian Underwriter

XL Catlin announced on Friday the appointment of Nick Greggains as chief executive officer of XL Catlin’s Canadian insurance operations. In his new role, Greggains leads XL Catlin’s regional business strategy and guides the development and delivery of innovative insurance

News CatastrophesInsuranceMergers and Aqcuisitions

GC Securities completes cat bond notes on behalf of XL Insurance

March 4, 2016 by Canadian Underwriter

For the first time since XL Group plc’s acquisition of Catlin Group Limited, XL Catlin has utilized the 144A cat bond market as part of catastrophe bond Galileo Re Ltd., which provides aggregate protection against, among other things, earthquakes affecting

News Insurance

XL Group proposes to relocate from Ireland to Bermuda

March 1, 2016 by Canadian Underwriter

Ten months after it completed its acquisition of Catlin Group Ltd., insurance carrier XL Group plc is proposing to change its place of incorporation to Bermuda. XL’s principal offices are currently in Dublin, Ireland. In Canada, XL’s coverages include commercial

News CatastrophesClimate ChangeInsurance

JLT Group’s underlying profit down 7% to 170.1 million in 2015

March 1, 2016 by Canadian Underwriter

Planned investment in its United States business contributed to Jardine Lloyd Thompson Group plc’s underlying profit before tax falling 7% to £170.1 million in 2015, preliminary results show, but the company reports its overall momentum was sustained despite the challenging

News Insurance

Berkshire Hathaway insurance-underwriting earnings up to $306 million in Q4 2015 from $191 million in Q4 2014

February 29, 2016 by Canadian Underwriter

Berkshire Hathaway has reported insurance-underwriting earnings of US$306 million for the fourth quarter of 2015 ending Dec. 31, 2015, up from US$191 million in the same quarter in 2014. However, for the full-year 2015, earnings were US$1.162 billion, down from

News CatastrophesClimate ChangeInsurance

Swiss Re sees 2015 net income increase 31% to US$4.6 billion compared to 2014

February 23, 2016 by Canadian Underwriter

All of Swiss Re’s business units contributed positively – although Life and Health (L&H) Reinsurance was a standout – to the 31% increase in net income of US$4.6 billion in 2015 compared to US$3.5 billion in 2014. “The result benefited

News InsuranceMergers and Aqcuisitions

U.S. P&C industry expected to post third consecutive underwriting profit in 2015, despite slight deterioration in combined ratio: A.M. Best

February 23, 2016 by Canadian Underwriter

The property and casualty industry in the United States is expected to produce a third consecutive underwriting profit in 2015, despite a slight deterioration in the combined ratio as rate increases slow and the level of favourable loss reserve development

News CatastrophesInsuranceMergers and Aqcuisitions

Combined ratio for U.S. p&c to increase 1.2 points in 2016: A.M. Best

February 19, 2016 by Canadian Underwriter

The combined ratio will rise from 98% in 2015 to 99.2% for the property and casualty insurance industry in the United States, while for the U.S. and Bermuda reinsurance industry, the combined ratio will deteriorate by 6.7 points, A.M. Best