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Swiss Re
Look back, but not too far: Why some perils need a new approach
June 14, 2021 by Jason ContantThe insurance industry needs to look at the “more recent past” and take a shorter-term view of catastrophic perils to see their effects going forward, Swiss Re told Canadian Underwriter recently. “When we’re looking at recent events, including the 2020…
Why Canada could be in the path of stronger hurricanes in the future
June 7, 2021 by Jason ContantCanada could see heightened hurricane risk in the future, as climate change and fluctuations in ocean temperature are increasing the likelihood of stronger hurricanes making landfall further north, according to Swiss Re. “We see an increased likelihood of intense hurricanes…
Monica Ningen, Swiss Re
March 10, 2021 by Jason ContantMonica Ningen, President, CEO, Swiss Re Canada and the English Caribbean Women at all stages of their careers in the insurance industry continue to face barriers such as higher performance standards, harsher judgement for mistakes than their male counterparts, and…
Karen Gavan, Swiss Re board
March 8, 2021 by Jason ContantKaren Gavan, Swiss Re board of directors and former president, CEO of Economical Insurance To reach a leadership position in the Canadian property and casualty insurance industry, women leadership hopefuls need to develop and hone their financial literacy skills, the…
Swiss Re’s new head of P&C client markets in Canada
November 16, 2020 by David GambrillAgis Kitsikis has been appointed as Swiss Re’s new head of P&C client markets for Canada and the English Caribbean, effective immediately. He succeeds Stefan Behr, who recently accepted the position as Swiss Re’s head of business development for Europe,…
Watch for governments to transfer financial risk from natural disasters to insurers: Swiss Re
October 16, 2020 by Greg MeckbachThere is growing awareness that governments can transfer the financial risk of natural disasters to both insurance and capital markets, a Swiss Re expert observes. In Asia, Africa, the United States and Britain, there are examples of national and sub-national…
The impact of Calgary’s hailstorm on North American H1 storm losses
August 11, 2020 by Jason ContantCanada’s costliest-ever hailstorm contributed to the largest insured losses in North America since the first half of 2011, according to preliminary natural catastrophe estimates from Swiss Re. The hailstorm that struck Calgary in June cost the industry $1.2 billion based…
The underrated factor pushing down the industry’s profitability
January 22, 2020 by Greg MeckbachThe impact of low interest rates on insurer profitability is something that warrants more discussion, suggests a senior executive with one of the world’s largest reinsurers. “This is something that significantly impacts the profitability of the insurance and reinsurance industry,…
Mind the Gap
November 2, 2019 Jason Contant, Online EditorThe gap between those who are insured against catastrophes and those who aren’t is still noticeably wide, particularly as storms are supposed to get worse. Monica Ningen, president and CEO of Swiss Re Canada and English Caribbean, describes what can be done.
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,”…