Keyword
Underwriting
Moves and Views
December 1, 2015 by Canadian Underwriter1 Serge Lavoie [1], former president and chief executive officer of Jevco Insurance Company, took on duties as president of the Canadian subsidiary, Echelon Financial Holdings Inc., as of December 1. Most recently Quebec president of GDI Integrated Facility Services,…
The Driver’s Seat
December 1, 2015 by Canadian UnderwriterConditions are changing at breakneck speed for Canada’s property and casualty insurance industry. With 2016 providing little promise things will slow down – allowing slow-adopters to catch up – primary insurers need to keep pace or be left in the dust. All that demands plotting the best route forward, knowing when to rev up or slow down, to reach the final destination.
2015 underwriting results decline for top U.S. auto insurers: Fitch Ratings
November 30, 2015 by Canadian UnderwriterUnderwriting profitability for private passenger automobile insurance has deteriorated in 2015 for many writers in the United States, according to credit rating and research firm Fitch Ratings. The weakening results through the first nine months of the year reverse a…
Spike in road fatalities disturbing to Manitoba Public Insurance
November 27, 2015 by Canadian UnderwriterManitoba has witnessed a 42% hike in road fatalities in the province over the last three months compared to the average number of fatalities over the same time period in the previous five years, Manitoba Public Insurance (MPI) reported Friday.…
Climate protection to become a core business for Allianz SE
November 26, 2015 by Canadian UnderwriterAllianz SE plans to integrate climate protection into its entire business portfolio – a move that will include ending financing of coal-based business models – the insurer announced in the run-up to the UN Climate Change Conference in Paris. “Our…
Allianz’s new three-year plan sets targets to increase earnings and profitability, implement digital processes
November 25, 2015 by Canadian UnderwriterAllianz SE plans to meet the transforming insurance industry head-on by strengthening resilience and creating scale in important markets in a bid to achieve new growth and profitability targets. The insurer “will strengthen its foundations with a multi-year Renewal Agenda,…
Non-life insurance premiums forecast to grow 0.8% in 2016 in Canada: Swiss Re
November 24, 2015 by Canadian UnderwriterThe worldwide demand for non-life insurance should increase in 2016 and 2017, but pressure on reinsurance profits should “drive more” mergers and acquisitions in 2015 and 2016, Swiss Re Ltd. suggested in a report announced Tuesday. In Swiss Re’s Global…
Ontario looks to reduce effects of climate change by banning coal-fired electricity generation
November 24, 2015 by Canadian UnderwriterOntario took the North American lead Monday by passing legislation to permanently ban coal-fired electricity generation, a move the provincial government calls as a significant step in the fight against climate change. The landmark law – Ending Coal for Cleaner…
Cyber capability should be on parity with established aspects of terrorist armory: Pool Re
November 23, 2015 by Canadian UnderwriterA potential shift toward cyber terrorism is among the factors contributing to the United Kingdom’s move last week to double funds set aside to combat cyber attacks, Julian Enoizi, chief executive of Pool Reinsurance Company Limited, notes in a recent…
Meetings on proposed merger between Willis and Towers Watson adjourned until Friday
November 18, 2015 by Canadian UnderwriterWillis Group Holdings has announced that it has adjourned an Extraordinary General Meeting (EGM) on a proposed merger with Towers Watson that was scheduled for Wednesday until Friday at 9:30 a.m. EST. The decision was made as a result of…
CNA Financial appoints Dino Robusto as chairman and CEO; Thomas Motamed to retire at end of 2016
November 17, 2015 by Canadian UnderwriterCNA Financial Corporation announced on Monday the appointment of Dino E. Robusto as its chairman and chief executive officer effective “on or about Dec. 1, 2016.” Robusto will succeed Thomas F. Motamed, who has decided to retire at the end…
Tianjin explosions cost Berkshire Hathaway $130 million in reinsurance losses
November 9, 2015 by Canadian UnderwriterBerkshire Hathaway Inc. reported Friday its estimated losses from the Tianjin, China explosions last August were $130 million, though the Q3 underwriting gain for the Berkshire Hathaway Primary Group increased 31% year over year. “In the third quarter of 2015,…