Expect 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,”…
Your 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…
The 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…
Ciara 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…
Underwriting 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…
With 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…
Veronica 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…
Global 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…
Huge 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 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…
Canadians are not fully aware of their exposure to natural catastrophe risks, triggering a conversation at the C4 2018 conference in Ottawa about who is responsible for shouldering the heavy load of mounting disaster recovery costs. Organized by Catastrophe Indices…
MONTREAL – While people in British Columbia are mindful of the fact they could eventually face some of the strongest earthquakes in the world, at least one study warns there’s a lack of awareness of the risk in Eastern Canada.…