Keyword
Swiss Re
Twenty more years of low interest rates? What that and a recession will mean for Canadian P&C insurers
October 4, 2019 by David GambrillIf P&C insurers are looking to use their investment returns to offset inadequate pricing strategies, Swiss Re has a chilling prediction for them – low interest rates could be with us for another 20 years or longer. Jerome Jean Haegeli,…
Where Canada’s resilience to economic shock ranks globally
September 10, 2019 by Jason ContantThe global economy now has less capacity to absorb a shock than it did in 2007 (pre-global recession), but Canada is faring well – it is the second-most economic resilient country in world, according to the Swiss Re Institute. In…
Why Swiss Re says insurance profitability will remain ‘under pressure’
July 5, 2019 by Greg MeckbachExpect the low-interest-rate environment to continue for at least two more years, Swiss Re warned Thursday. “Insurers will continue to operate in a low-interest-rate environment for the next two years at least, meaning that industry profitability will remain under pressure,”…
Why insurers are not calling it a hard market
April 5, 2019 by Greg MeckbachYour clients may be paying higher rates but hard market may not be the right way to describe it, speakers suggested at a recent insurance conference. “I don’t personally know if I would call it a hard market yet. What…
Canada ‘much closer’ to national flood program: IBC
April 2, 2019 by Greg MeckbachThe industry is making progress on getting a national flood insurance program, but a key challenge is getting all provinces, territories and Ottawa to agree on how it should work, the Insurance Bureau of Canada’s CEO suggested Tuesday. Unlike Britain…
New Allianz head of global liability has Canadian roots
October 10, 2018 by Greg MeckbachCiara Brady, who previously worked in Toronto for both Swiss Re and Chubb, becomes head of global liability for Allianz Global Corporate and Specialty effective Jan. 1, AGCS announced Tuesday. Brady will work out of Zurich and succeed Michael Hohmann…
This reinsurer says rates need to go up
September 10, 2018 by Jason ContantUnderwriting margins will need to improve by at least six to nine points in major western markets to deliver sustainable returns, according to the latest sigma report from global reinsurer Swiss Re. The report Profitability in non-life insurance: mind the…
The new threat facing Fort McMurray (and other parts of Western Canada)
June 11, 2018 by Jason ContantWith hundreds of claims from the 2016 Fort McMurray wildfire still unresolved as of late last month, Alberta residents could be forgiven for still worrying about wildfire risks in their own backyard. The Canadian Press recently reported that as of…
New CEO for Swiss Re Canada, as Scotti moves into new role
June 1, 2018 by Greg MeckbachVeronica Scotti, president and CEO of Swiss Re Canada, has been appointed chairperson of global partnerships for the reinsurer. Scotti has been Swiss Re Canada CEO since 2015, when she replaced Sharon Ludlow. Scotti joined Swiss Re in London, England…
Comparing insurance contracts? How AI can help expedite the process
March 5, 2018 by Jason ContantGlobal reinsurer Swiss Re is employing artificial intelligence (AI) to trace relationships between insurance contracts, all the way down to a single clause, allowing underwriters to process a submission much faster. Mike Fitzgerald, senior insurance analyst with financial consulting firm…
Gavan’s Global Perspective
February 21, 2018 Greg Meckbach, Associate EditorHuge gaps in earthquake coverage in eastern Canada, the impact of climate change on property damage, and harmonizing regulations across the globe are all top of mind for Karen Gavan, the former CEO of Waterloo, Ont.-based Economical Insurance. Perhaps best…
Insurers urged to play a role in rebuilding economies after disasters
February 9, 2018 by David GambrillInsurers should be giving more thought to planning how to rebuild economies in the aftermath of a crisis, a reinsurance executive urges. “To my mind, what is often seemingly forgotten is the piece of economic resilience,” says Alex Kaplan, head…