Keyword
Underwriting
Q1 claims costs up 48.1% at Manitoba Public Insurance
July 19, 2016 by Canadian UnderwriterManitoba Public Insurance Corp., the crown corporation that writes auto insurance in the province, reported Friday its underwriting loss was $33.8 million during the three months ending May 31. MPI had reported underwriting income of $40.73 million in the three…
Chubb introduces insurance product for private Canadian companies
July 18, 2016 by Canadian UnderwriterChubb Ltd. announced on Monday that it has launched a modular insurance policy designed specifically for Canadian privately owned companies. ForeFront Portfolio addresses the broad range of liability risks faced by Canadian private companies in an increasingly risky and litigious…
Impact Forecasting launches new cat modelling platform, including new flood models for Canada
July 12, 2016 by Canadian UnderwriterImpact Forecasting announced on Tuesday that it has launched ELEMENTS 10, its complete catastrophe modelling platform, which includes new flood models for Canada. ELEMENTS 10 offers the ability to run insurers’ own or third-party model, plus access to new flood…
Written premium prices on Canadian commercial policies in Q1 2016 up 1.2% from prior year quarter: Willis Towers Watson survey
July 11, 2016 by Canadian UnderwriterWritten premium price levels charged on insurance policies underwritten during the first quarter of 2016 increased 1.2% from the prior year quarter, according to Willis Towers Watson’s Commercial Lines Insurance Pricing Survey – Canada (CLIPS Canada). The most recent survey,…
Death of the Pricing Cycle?
July 1, 2016 Sean van Zyl, Freelance WriterThe medieval nursery rhyme, ring a ring o’ roses, depicting the ravages of the black plague, could well represent a metaphor for the property and casualty insurance industry’s past erratic pricing behaviour. Now, with a record level of excess capital awash in the global marketplace, has the historical pricing cycle been broken forevermore?
Ironshore’s M&A unit establishes an Americas presence, names management appointments in Toronto, New York and Atlanta
June 14, 2016 by Canadian UnderwriterIronshore International announced on Monday that its global Mergers & Acquisitions unit will establish an Americas presence to “address complex, multi-jurisdictional transactions within the North and Latin American regions.” The Americas team will be led by Navine K. Aggarwal, who…
U.S. commercial insurance prices rose less than 1% in first quarter: Willis Towers Watson
June 13, 2016 by Canadian UnderwriterCommercial insurance prices in the United States increased modestly in aggregate – less than 1% – during the first quarter of 2016, continuing a three-year trend of smaller increases, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) by…
Sizable U.S. property insurance price hike only expected in wake of a record hurricane year: Fitch
June 2, 2016 by Canadian UnderwriterHurricane losses in the United States equal to at least 15% of industry aggregate surplus in 2016 would likely promote a shift toward positive pricing movement, although any upward movement would be dampened by existing underwriting capacity for primary and…
Global P&C insurance market forecast to grow at a compound annual growth rate of 5.77% from 2016 to 2020
May 31, 2016 by Canadian UnderwriterThe global property and casualty insurance market is forecast to grow at a compound annual growth rate (CAGR) of 5.77% during the period of 2016 to 2020, according to a new report from Research and Markets. The report from the…
Verisk Insurance Solutions expands FireLine to Western Canada
May 26, 2016 by Canadian UnderwriterVerisk Insurance Solutions announced on Thursday that it is expanding its FireLine wildfire risk management service to include the provinces of Alberta and British Columbia. FireLine, which is well-established in the western United States, enables property-specific assessment of wildfire risk…
Hannover Re’s 2016 Q1 net income down without elimination of positive special effect in prior-year quarter, up 12.7% with elimination
May 10, 2016 by Canadian UnderwriterHannover Re’s sharply improved underwriting results in property and casualty reinsurance for 2016 Q1 – coupled with the elimination of a positive special effect in 2015 Q1 – helped the world’s third largest reinsurer post a 12.7% hike in Group…
Economical Insurance combined ratio down 4.6 points in first quarter of 2016
May 10, 2016 by Canadian UnderwriterEconomical Insurance has reported a combined ratio of 101.1% in the first quarter of 2016 ending March 31, down 4.6 percentage points from the Q1 2015 combined ratio of 105.7%. Waterloo, Ont.-based Economical Insurance’s gross written premiums were up by…