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Summer storm floods Saskatoon streets, cuts power and forces mall to close

August 9, 2017 The Canadian Press (CPSTF)

SASKATOON – A summer storm that swamped Saskatoon submerged streets, knocked out power in some neighbourhoods and forced a city mall to close. Market Mall shut down Tuesday afternoon after rain, which dumped more than 50 millimetres on some parts

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 CatastrophesInsuranceMergers and Aqcuisitions

Spring storm in Alberta and Saskatchewan uproots trees and knocks out power

May 25, 2017 The Canadian Press

A nasty spring storm has toppled semis, uprooted trees and produced localized flooding throughout much of Saskatchewan and Alberta. In Saskatoon, wind speeds were recorded at 105 kilometres an hour Wednesday afternoon, leaving garbage bins strewn throughout the streets, shingles

News CatastrophesInsuranceMergers and Aqcuisitions

High winds add to flooding fears as storm approaches southern B.C.

May 23, 2017 The Canadian Press

VANCOUVER – Flood-weary regions of British Columbia’s southern Interior are bracing for another battering, this time from high winds. Environment Canada has issued special weather statements for parts of Vancouver Island, Metro Vancouver and most of the southern Interior, including

News CatastrophesInsuranceMergers and Aqcuisitions

Flooding expected to be ‘unlike anything ever seen,’ warns Kelowna mayor

May 12, 2017 The Canadian Press

VANCOUVER – British Columbia’s Okanagan region is bracing for a storm that Kelowna’s mayor worries could unleash the worst flooding the region has ever seen. Mayor Colin Basran posted a Facebook statement describing expected water levels as “unlike anything we

News CatastrophesClimate ChangeEarnings / RatingsMergers and AqcuisitionsReinsurance

Hannover Re Group net income down 2.4% to 264.8 million euros in 2017 Q1 compared to 2016 Q1

May 10, 2017 by Canadian Underwriter

Group net income for Hannover Re contracted to 264.8 million euros in the first quarter of 2017, but was in line with the prior-year quarter’s exceptionally good results, positioning the reinsurer well for achieving its financial targets this year. Group

News CatastrophesInsuranceMarkets / Coverages

Southern Ontario windstorm in March caused close to $100 million in insured damage: CatIQ

April 18, 2017 by Canadian Underwriter

A windstorm that affected parts of southern Ontario on March 8 has resulted in nearly $100 million in insured damage, Catastrophe Indices and Quantification Inc. (CatIQ) said on Tuesday in a press release from the Insurance Bureau of Canada (IBC).

News CatastrophesInsuranceMarkets / Coverages

Pack ice, epic blizzards as ‘relentless’ winter won’t let go across Newfoundland

April 5, 2017 Sue Bailey - THE CANADIAN PRESS

JOHN’S, N.L. – From extreme pack ice to record-breaking snow falls, it’s the winter that just won’t let go across much of Newfoundland. There are at least 230 centimetres of snow (more than seven feet) on the ground in Gander

News Catastrophes

Quebec pounded by winter storm, premier acknowledges need for better response

March 16, 2017 Morgan Lowrie - THE CANADIAN PRESS

MONTREAL – Heavy snow continued to fall Wednesday as Quebec emergency crews struggled to cope with a fatal winter storm that paralyzed traffic and left hundreds of motorists stranded in their cars overnight. Environment Canada said southwestern, central and eastern

News CatastrophesInsuranceMergers and Aqcuisitions

Storm-lashed California roads, dams could cost US$1B to fix

February 27, 2017 Scott Smith - THE ASSOCIATED PRESS

FRESNO, Calif. – The bill to repair California’s crumbling roads, dams and other critical infrastructure hammered by an onslaught of storms this winter could top $1 billion, including nearly $600 million alone for damaged roadways that more than doubles what

News CatastrophesInsuranceMergers and Aqcuisitions

California governor seeks flood control funds

February 24, 2017 The Associated Press

California Gov. Jerry Brown wants to spend $437 million on immediate flood control and emergency response actions in the storm-drenched state. Brown said Friday he would do that by redirecting $50 million from the state general fund and requesting a

News CatastrophesInsuranceMergers and Aqcuisitions

Powerful storm enters California and brings risk of flooding

February 17, 2017 John Antczak - THE ASSOCIATED PRESS

LOS ANGELES – The leading edge of a powerful Pacific storm entered southern and central California early Friday, bringing rains that forecasters said could become the strongest in years if not decades. With the storm feeding on an atmospheric river