Canadian Underwriter

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Underwriting


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Intact reports 0.9 percentage point drop in combined ratio in first quarter of 2016

May 4, 2016 by Canadian Underwriter

Intact Financial Corporation (IFC) has reported a 0.9 percentage point drop in its combined ratio for the first quarter of 2016 compared to the same quarter in 2015, led by property lines and improving personal auto results. Toronto-headquartered IFC, the

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Aviva Canada develops insurance product for Quebec ridesharing programs – if province allows them

May 4, 2016 by Canadian Underwriter

Aviva Canada announced on Wednesday that it has developed an “affordable and convenient insurance product that would bridge the insurance gap in Quebec,” if the provincial government decides to allow ridesharing programs. Aviva Canada, a provider of home, automobile, leisure/lifestyle

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Swiss Re reports net income of US$1.2 billion in Q1 2016

May 2, 2016 by Canadian Underwriter

Swiss Re has reported a net income of US$1.2 billion in Q1 2016, down from US$1.4 billion reported in the prior-year period, but “supported by solid underwriting and strong investment results.” Net income for Property and Casualty Reinsurance was US$587

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Loss of confidential information key to understanding interactions between crime and cyber coverage: conference speaker

May 2, 2016 Jason Contant, Online Editor

The loss of confidential information can be crucial to understanding the interactions between cyber and crime coverage, attendees to the NetDiligence Cyber Risk Summit heard on Friday. Matthew Davies, assistant vice president of Chubb Insurance Company of Canada, said that

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Combined ratio up 0.5 points for Arch Capital

April 28, 2016 by Canadian Underwriter

Arch Capital Group Ltd. reported Wednesday a 0.5-point increase in its combined ratio, a 4.2% increase in first-quarter gross written premiums in insurance and a 0.8% drop in Q1 gross written premiums in reinsurance. Pembroke, Bermuda-based Arch released Wednesday its

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U.S. commercial auto insurance “a chronic underperformer”: Fitch Ratings

April 28, 2016 by Canadian Underwriter

Commercial auto insurance in the United States has evolved into a “chronically underperforming product segment” for P&C insurers in the country, according to Fitch Ratings. While the P&C industry has reported three consecutive years of significant underwriting profits, the commercial

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Commercial prices in aggregate for Canadian insurers up 3.8% in general products and liability lines during Q4 2015 vs. Q4 2014: pricing survey

April 25, 2016 by Canadian Underwriter

Commercial insurance prices in aggregate for Canadian insurers increased 3.8% in the general products and liability line during the fourth quarter of 2015 compared to those charged for the same coverage during Q4 2014, according to the latest Willis Towers

News Mergers and AqcuisitionsProfessional Development

Don’t underestimate effort needed for successful acquisition: CIP Symposium speaker

April 25, 2016 Jason Contant, Online Editor

Don’t underestimate the effort required to have a major change such an acquisition go through successfully, attendees to the 2016 CIP Society Symposium heard last week. Speaking during an Up Close and Personal session, Surender Sekhon, director of operational underwriting

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Kingsway Financial reports $29M in premiums in Q1

April 25, 2016 by Canadian Underwriter

Kingsway Financial Services Inc. of Toronto, whose products include non-standard auto in the United States, reported Friday it lost US$1.495 million during the three months ending March 31. Net premiums earned in the most recent quarter were $29.427 million, essentially

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ISO to collect cyber insurance data to help mitigate risk related to cyberattacks

April 6, 2016 by Canadian Underwriter

ISO, a Verisk Analytics business, announced on Wednesday that it will collect, aggregate and analyze cyber insurance data to help address a major issue facing today’s cyber insurance market: the need for more detailed underwriting and rating information. ISO said

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Canada’s p&c industry sees big jump in underwriting income, big drop in nat-cat losses in 2015: IBC

April 6, 2016 by Angela Stelmakowich

Despite the challenges and fluctuations of 2015 – including plummeting oil prices – Canada’s property and casualty industry “had a relatively good year,” with underwriting income tripling to about $1.7 billion, David McGown, senior vice president of strategic initiatives for

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Aon to launch new global reinsurer trading platform

April 5, 2016 by Canadian Underwriter

Aon Benfield will launch its new global reinsurer trading platform Apr. 11, a move meant to enhance placements with real-time data when ABConnect Placements goes live for July 1 treaty placements, the global reinsurance intermediary and capital advisor of Aon