Keyword
Underwriting
Q3 combined ratio up 5.2 points, gross written premiums up 66.1% for XL Group
October 28, 2015 by Canadian UnderwriterFollowing its acquisition earlier this year of insurance carrier Catlin Group Ltd., XL Group plc reported a 66.1% year-over-year increase in third-quarter gross written premiums in property & casualty and a 3.3-point increase in its expense ratio, while an explosion…
Aon Benfield announces enhanced U.S. flood model to assess 1.4 million miles of rivers for potential losses
October 27, 2015 by Canadian UnderwriterImpact Forecasting, Aon Benfield’s catastrophe model development team, announced on Tuesday that it has enhanced its United States riverine flood model to more precisely quantify flood risk at a much higher resolution. Aon Benfield launched the enhanced model at the…
2015 insured losses from wildfires in the U.S. may total US$1.75 billion: Guy Carpenter
October 27, 2015 by Canadian UnderwriterGuy Carpenter & Company, LLC, a global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Companies, has said that preliminary data indicates that 2015 insured losses from wildfires in the United States “may approach or exceed…
Kingsway Financial Services reports net income of US$3.1 million for first three quarters of 2015, compared to loss of US$13.7 million in same period in 2014
October 26, 2015 by Canadian UnderwriterKingsway Financial Services Inc. has reported a net income of US$3.1 million for the nine months ending Sept. 30 compared a net loss of US$13.7 million in the same prior year period. Kingsway, a holding company functioning as a merchant…
Patricia-related insured losses to onshore properties in Mexico estimated not to exceed US$200 million
October 26, 2015 by Canadian UnderwriterOnshore properties in Mexico escaped major damage when Hurricane Patricia made landfall, with catastrophe modelling firm AIR Worldwide estimating Sunday that insured losses to those properties will not exceed US$200 million. When at its height earlier, the National Hurricane Center…
Airbnb introduces a broader insurance coverage policy for Canadians
October 23, 2015 David Friend - THE CANADIAN PRESSTORONTO – Airbnb is adding a new level of insurance coverage in Canada as part of wider support for people who list their properties through its service. The online accommodation provider announced Thursday that its Host Protection Insurance program, which…
Jackson, Mississippi ranked as windiest U.S. city in new CoreLogic data
October 23, 2015 by Canadian UnderwriterJackson, Mississippi is the windiest city in the United States, recording a maximum wind speed of 99 miles per hour (about 159 kilometres per hour) and 153 separate wind events over a nine-year period, according to new data released on…
Travelers’ record NWP in 2015 Q3 over prior year quarter helps net income increase to US$928 million
October 22, 2015 by Canadian UnderwriterRecord net written premiums (NWP) for The Travelers Companies, Inc. in the third quarter of 2015 helped buoy the company’s net income the quarter, which reached US$928 million compared to US$919 million in the same period of 2014. The 1%…
U.S. property and casualty insurers’ net income up US$5 billion in the first half of 2015 from same time last year: ISO
October 22, 2015 by Canadian UnderwriterPrivate U.S. property & casualty insurers’ net income after taxes grew to US$31 billion in the first half of 2015 from US$26 billion in the first half of 2014, with insurers’ overall profitability as measured by their rate of return…
Insurance industry needs to better understand the consequences of large aggregation scenarios: AIR Worldwide
October 21, 2015 Angela Stelmakowich, EditorThe cyber risk the insurance industry seems most concerned about currently relates to large aggregation scenarios – such as the impact of an attack on the power grid or the cloud – but that concern has not necessarily translated into…
Dual approach seeks to help insurers better understand their specific Cat risk exposures: Willis Re
October 19, 2015 by Canadian UnderwriterWillis Re is hoping to help insurers develop their own independent view of risk with the adoption of a dual approach that involves enhancing and validating output for perils and regions covered by vendor models, as well as building new…
Guy Carpenter releases 2015 insurance risk benchmarks report
October 15, 2015 by Canadian UnderwriterA new report from Guy Carpenter & Company LLC includes an analysis of underwriting performance, reserve development risk and correlation concerns of the United States property & casualty insurance industry. Guy Carpenter – the reinsurance intermediary of New York City-based…