Canadian Underwriter

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Non-life premiums down 4% at PartnerRe

October 28, 2016 by Canadian Underwriter

PartnerRe Ltd., which writes commercial insurance and reinsurance worldwide, reported this week a 4% drop in Q3 non-life premiums while the combined ratio was essentially unchanged at 82.7% PartnerRe, which is based in Pembroke, Bermuda and has a Toronto office,

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Canadian P&C industry combined ratio improves to 96% in 2015 from 99% in 2014

October 7, 2016 by Canadian Underwriter

The property and casualty insurance industry in Canada reported an aggregated combined ratio of 96% in 2015, a three-point improvement from 99% in the previous year, driven by fewer severe weather and catastrophe events, the Office of the Superintendent of

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FM Global creates dedicated cyber risk engineering, underwriting units

September 26, 2016 by Canadian Underwriter

FM Global is looking to bolster its expertise in first-party cyber solutions for the benefit of its mutual policyholders with its move to form integrated engineering and underwriting units dedicated to doing just that. The move seeks to address the

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U.S. surplus lines financially sound despite market pressures and economic challenges: A.M. Best

September 20, 2016 by Canadian Underwriter

Underwriters of surplus lines in the United States generated growth in direct premium of 2.5% in 2015, the smallest annual increase in the last five years, according to an A.M. Best special report released on Monday. The Best’s Special Report,

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Growth in commercial unmanned aircraft systems, UAS, to bring both benefits, new risks: Allianz

September 13, 2016 by Angela Stelmakowich

The use of unmanned aircraft systems (UAS) is set to soar south of the border — expected to triple the number of manned aircraft by year’s end — producing new risks that will require insurers to adopt a new view,

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Technology driving long-term transformation of the insurance industry; price levels expected to stabilize: Swiss Re

September 12, 2016 by Canadian Underwriter

Technological developments will profoundly change the way in which the re/insurance industry develops, distributes, underwrites and administers the insurance protection it sells to consumers, Swiss Re said on Monday. New technologies such as cognitive and cloud computing as well as

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U.S. commercial insurance prices nearly flat during second quarter of 2016: Willis Towers Watson

September 12, 2016 by Canadian Underwriter

Commercial insurance prices in the United States were nearly flat during the second quarter of 2016, according to the most recent Commercial Lines Insurance Pricing Survey (CLIPS), released on Monday. Willis Towers Watson (WTW), a global advisory, broking and solutions

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North American P&C insurers’ operating profitability declines in first half of 2016: Fitch

August 29, 2016 by Canadian Underwriter

North American property and casualty insurers’ operating earnings decreased in the first half of 2016, as results were challenged by modest underwriting deterioration and low investment yields, according to a new report released on Friday by Fitch Ratings. For a

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“Limited impact” expected for Italian insurers following earthquake: Fitch

August 29, 2016 by Canadian Underwriter

The impact on Italian insurers from the earthquake that struck the central part of the country is likely to be limited, ratings firm Fitch Ratings said on Friday. Fitch Ratings estimates insured losses of 100 million to 200 million euros,

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Ontario Municipal Insurance Exchange (OMEX) suspends underwriting operations

August 11, 2016 by Canadian Underwriter

The Ontario Municipal Insurance Exchange (OMEX) announced on Thursday that it will suspend Reciprocal underwriting operations effective immediately “to allow it time to fully assess the needs of Ontario municipalities with a view to redesigning its products to better service

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Zurich Insurance Group’s 2016 business operating profit down in H1, up in Q2 over prior-year periods

August 11, 2016 by Canadian Underwriter

Continuing to build on its efforts to simplify and become more agile, Zurich Insurance Group reports that its business operating profit (BOP) for the first half of 2016 was US$2.194 million, down 2% from US$2.238 million for 2015 H1. Figures

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Economical Insurance cites wildfire’s impact, net income drops to $17.1 million in 2016 Q2

August 8, 2016 by Canadian Underwriter

Canada’s worst-ever insured natural disaster – the Fort McMurray wildfire – delivered a hard hit to the underwriting activity of Economical Insurance, contributing to a net income in the second quarter of 2016 of about half the prior-year quarter. Economical