Keyword
Underwriting
Zurich expects business operating loss of about US$100 million in Q4 2015 due to nat cat claims
January 20, 2016 by Canadian UnderwriterZurich Insurance Group said on Wednesday that it expects its General Insurance business to record a business operating loss in the fourth quarter of 2015, due to natural catastrophe claims, including those related to recent storms and floods in the…
ACE completes Chubb acquisition; adopts Chubb name and launches new Chubb brand
January 14, 2016 by Canadian UnderwriterACE Limited announced on Thursday that it has completed its acquisition of Chubb, creating the world’s largest publicly traded property and casualty insurance company. ACE paid approximately US$29.5 billion in the aggregate in cash and stock, based on the most…
Cyber security must be viewed as a business issue, not a technology-only issue: PwC Canada
January 14, 2016 Angela Stelmakowich, EditorCanadian companies are taking steps towards establishing holistic, integrated safeguards against cyber security attacks, progress that will need to continue as the number of breaches increases, the threat landscape becomes more complicated and attacks grow sophisticated, suggests PwC Canada. Adopting…
Overland flood template preferred option over inconsistent offerings: Cook
January 13, 2016 by Canadian UnderwriterAngela Stelmakowich, Editor
Canada’s p&c industry projected to see underwriting profit for 2015; capital will follow opportunity: Cook
January 12, 2016 Angela Stelmakowich, Editor“Capital tends to follow opportunity,” and while Canada is currently viewed as a region affording opportunity, the property and casualty insurance industry here could experience significant pressure if investors start regarding other areas as greener pastures, Philip Cook, CEO of…
Dedicated reinsurance capacity likely to remain flat: A.M. Best
January 11, 2016 by Canadian UnderwriterRatings firm A.M. Best Company said on Monday that it expects that dedicated reinsurance capacity, which includes US$68 billion of convergence capacity, will likely remain flat at an estimated US$400 billion in 2015 compared with the previous year. A.M. Best,…
Gore Mutual passes on final demutalization regs, opts to remain a mutual company
January 11, 2016 by Canadian UnderwriterDespite the regulatory means now available for federally regulated mutual property and casualty insurers to demutualize, 176-year-old Gore Mutual Insurance Company is opting to remain as is and continue with its existing strategic plan. “The Board of Directors (BoD) of…
U.S. p&c commercial lines 2016 outlook negative; personal lines outlook stable: A.M. Best
January 8, 2016 by Canadian UnderwriterAnticipating more downgrades than upgrades in the coming year, A.M. Best reports that it is maintaining its negative outlook on the commercial lines segment of the United States property/casualty industry. The negative outlook is despite relatively solid aggregate results over…
Manitoba task force recommends new insurance tools for agriculture industry
January 7, 2016 by Canadian UnderwriterAn agriculture risk management review task force in Manitoba has recommended researching and developing new insurance tools such as weather derivatives and whole-farm revenue insurance. The recommendation was one of 25 made by the provincially appointed task force, which examined…
H.W. Kaufman Financial Group acquires Ajax, Ont.-based Technical Risk Services
January 6, 2016 by Canadian UnderwriterH.W. Kaufman Financial Group announced on Wednesday that it has acquired Toronto-based Technical Risk Services (TRS), a provider of loss control services, inspections and risk control consulting. TRS is a full-service loss control inspection and consulting firm that has operated in…
Guy Carpenter reports stable capital at Jan. 1 renewals
January 6, 2016 by Canadian UnderwriterGuy Carpenter & Company, a global risk and reinsurance specialist and wholly-owned subsidiary of Marsh & McLennan Companies, announced late Tuesday that overall capital levels dedicated to reinsurance have stabilized, showing no growth for the first time in several years.…
2015 cat bond issuance activity by new limit fell 25% to US$6 billion year over year: PCS
January 6, 2016 by Canadian UnderwriterCatastrophe bond issuance activity by new limit fell approximately 25% year over year in 2015 to US$6 billion, while issuance of catastrophe bonds including coverage for Canada witnessed a shift, notes a new report issued Wednesday by Property Claims Services…