Keyword
Underwriting
Net income for Swiss Re US$1.2 billion in 2017 H1, down from about US$1.9 billion in 2016 H1
August 4, 2017 by Canadian UnderwriterDisciplined underwriting and strong investment returns contributed to Swiss Re recording net income of US$1.2 billion for the first half of 2017, although catastrophe claims served to reduce the total from the comparable period in 2016. Net income for Swiss…
XL Group Ltd. sees net income soar in 2017 Q2 over prior-year quarter, focus on executing strategy continues
July 27, 2017 by Canadian UnderwriterBoth net income attributable to common shareholders and operating net income for Bermuda-based XL Group Ltd. skyrocketed in 2017 Q2 compared to 2016 Q2, with the former increasing six-fold to US$301.6 million. Specifically, net income attributable to common shareholders amounted…
Catastrophe losses contribute to decrease in 2017 Q2 net income for Travelers
July 21, 2017 by Canadian UnderwriterSolid net investment income was not enough to offset higher catastrophe losses and lower underlying underwriting gains, contributing to the Travelers Companies, Inc. witnessing lower net income for 2017 Q2 compared to 2016 Q2. Net income was US$595 million for…
Beazley launches environmental coverage in Canada
July 19, 2017 by Canadian UnderwriterBeazley has launched its local environmental coverage in Canada with a product suite tailored to the specific market. The suite includes the ECLIPSE (fixed site) form, the ENVIRO (contractors’ pollution legal liability) form and the BeazleyOne (combined) form. Limits are…
Extreme cloud attack could pack as much of a cost wallop as Hurricane Sandy
July 18, 2017 by Canadian UnderwriterA malicious hack that fells a cloud service provider for a time has the potential to produce estimated economic losses of as much as US$53 billion, in line with the hit delivered by Superstorm Sandy, suggests a new research scenario…
Insurance Analytics Canada Summit speaker explains how brokerage caters to ‘need for speed demographic’
July 3, 2017 Greg Meckbach, Associate EditorThere are “all sorts of insights” that an insurance brokerage can get from customer data, but that data needs to be trustworthy, the head of an online commercial insurance brokerage told attendees at a recent conference. “If you don’t have…
Fitch revises Lloyd’s outlook to negative due to deterioration in underwriting performance
June 30, 2017 by Canadian UnderwriterFitch Ratings has announced that it has revised Lloyd’s of London’s outlook to negative from stable as result of “deterioration in underwriting performance, coupled with increasing exposure to catastrophe risk in the context of continuing pressure on both risk-adjusted premium…
Incremental disruption in insurance industry “like death by a thousand cuts”: Insurance Analytics Canada speaker
June 30, 2017 Jason Contant, Online EditorThe insurance industry has been very incremental in dealing with disruption and needs a drastic shift from historical analysis to predictive, future risk models, a speaker suggested on Wednesday at the Insurance Analytics Canada Summit. “You cannot disrupt with incrementalism,”…
Customers in driver’s seat, geared up for experimenting with insurance offerings: webinar
June 29, 2017 by Angela StelmakowichCustomers want to be in the driver’s seat and, increasingly, that is something insurance providers should want as well, Ellen Carney, principal analyst for e-business and channel strategy at U.S.-based research and advisory firm Forrester, suggested during a Centre for…
AIR Worldwide releases probabilistic crop hail model for Canada
June 26, 2017 by Canadian UnderwriterAIR Worldwide has released what the catastrophe risk modelling firm calls the industry’s first crop hail model to provide stakeholders across the crop insurance value chain with a probabilistic view of the effects of hail on Canadian crops. Currently available…
The Bitfury Group and Risk Cooperative partner to pioneer blockchain applications in insurance intermediation market
June 19, 2017 by Canadian UnderwriterBlockchain technology company The Bitfury Group and risk and insurance advisory firm Risk Cooperative have announced a strategic partnership to pioneer blockchain applications in the US$60 billion insurance intermediation market. Announced on Friday, the partnership will leverage Bitfury’s expertise in…
François Dagneau appointed CEO of Canadian branch of Arch Reinsurance Company
June 16, 2017 by Canadian UnderwriterArch Reinsurance Company announced on Friday that François Dagneau will be appointed to the position of chief executive officer of its Canadian branch this month. Dagneau will replace Patrick McGuiness, who is retiring from Arch, the company said in a…