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Renewals

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Why Canadian insurers should feel lucky after 2017

January 3, 2018 by Greg Meckbach

After a year of massive North Atlantic hurricane losses, Canadian P&C insurers may have dodged a bullet with this year’s renewal season. Reinsurers licensed in Canada “were the main beneficiaries of the relatively quiet Canadian CAT year,” wrote Joel Baker,

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

North American commercial insurance buyers likely to face rate increases in 2018: Willis Towers Watson

November 7, 2017 by Canadian Underwriter

Commercial insurance buyers in North America are likely to face rate increases for 2018 insurance programs as the industry continues to tally losses following one of the most “active and financially disruptive hurricane seasons in history,” according to Willis Towers

News CatastrophesClaimsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Hurricane Harvey highlights magnitude of insurance protection gap: Aon Benfield

September 12, 2017 by Canadian Underwriter

Flood losses from Hurricane Harvey have again highlighted the global insurance protection gap, Aon Benfield said in a newly released report. On Monday, Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, released the September edition of

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

U.S. commercial insurance prices remain nearly flat in the second quarter: Willis Towers Watson survey

September 11, 2017 by Canadian Underwriter

Commercial insurance prices in the United States were again nearly flat during the second quarter of 2017, global advisory, broking and solutions company Willis Towers Watson (WTW) reported on Monday. For the eight quarter in a row, price changes were

News CatastrophesInsuranceReinsurance

Greater risk of negative underwriting results for reinsurers predicted by S&P

August 15, 2017 by Canadian Underwriter

With property catastrophe prices dropping during the 2017 renewals, combined with natural catastrophe losses exceeding US$50 billion last year, global reinsurers are at greater risk of having negative underwriting results and will tend to “shy away” from property catastrophe business,

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Q2 commission, fee growth flat at Willis Towers Watson

August 4, 2017 by Canadian Underwriter

Willis Towers Watson plc reported Thursday its commissions and fees from corporate risk and broking were $624 million during the three months ending June 30, a slight drop from $627 million during the same period in 2016. “North America organic

News Earnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

SCOR posts net income of 292 million euros for the first half of 2017

July 27, 2017 by Canadian Underwriter

French reinsurer SCOR has reported a net income of 292 million euros for the first half of the year, up from 275 million euros in the first half of 2016. The company’s net combined ratio in P&C was 93.5% for

News AssociationsInsuranceReinsurance

“Nearly all” U.K. drivers paying record amounts for car insurance: Association of British Insurers

July 10, 2017 by Canadian Underwriter

Drivers in nearly all age groups in the United Kingdom are paying record amounts for their car insurance and could face further increases unless the government takes action to reduce claims costs, the Association of British Insurers (ABI) warned recently.

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Munich Re’s operating result up to 952 million euros in Q1 2017 from 726 million euros in Q1 2016

May 9, 2017 by Canadian Underwriter

Munich Re has reported an increased operating result for the first quarter of 2017, from 726 million euros in Q1 2016 to 952 million euros in the most recent quarter. The reinsurance field of business contributed 466 million euros to

News CatastrophesInsuranceMergers and AqcuisitionsReinsurance

Munich Re posts profit of 2.6 billion euros for 2016; Fort McMurray wildfire cost 404 million euros

February 7, 2017 by Canadian Underwriter

Munich Re reported on Tuesday a consolidated result of 2.6 billion euros for 2016, including a 0.5 billion euro profit in the fourth quarter of 2016 ending Dec. 31 compared to 0.7 billion euros in the previous year quarter. Munich

News InsuranceMarkets / Coverages

2016 ILS market larger in Q3 than Q2 for first time: Swiss Re

February 3, 2017 by Canadian Underwriter

New issuance volumes for insurance-linked securities (ILS) were atypical in 2016, Swiss Re reported on Friday, noting that for the first time, the third quarter was larger than the second quarter. While the second quarter is typically the busiest of

News CatastrophesInsuranceMarkets / CoveragesMergers and AqcuisitionsReinsurance

Reinsurance cession ratio across global P&C industry registers small rise for first time in several years: Aon Benfield

September 12, 2016 by Canadian Underwriter

Reinsurance demand has increased over the past 18 months, with the cession ratio across the global property and casualty insurance industry registering a small rise for the first time in several years, according to Aon Benfield’s September 2016 edition of