Keyword
Underwriting
Death of the Pricing Cycle?
July 1, 2016 Sean van Zyl, Freelance WriterThe medieval nursery rhyme, ring a ring o’ roses, depicting the ravages of the black plague, could well represent a metaphor for the property and casualty insurance industry’s past erratic pricing behaviour. Now, with a record level of excess capital awash in the global marketplace, has the historical pricing cycle been broken forevermore?
Ironshore’s M&A unit establishes an Americas presence, names management appointments in Toronto, New York and Atlanta
June 14, 2016 by Canadian UnderwriterIronshore International announced on Monday that its global Mergers & Acquisitions unit will establish an Americas presence to “address complex, multi-jurisdictional transactions within the North and Latin American regions.” The Americas team will be led by Navine K. Aggarwal, who…
U.S. commercial insurance prices rose less than 1% in first quarter: Willis Towers Watson
June 13, 2016 by Canadian UnderwriterCommercial insurance prices in the United States increased modestly in aggregate – less than 1% – during the first quarter of 2016, continuing a three-year trend of smaller increases, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) by…
Sizable U.S. property insurance price hike only expected in wake of a record hurricane year: Fitch
June 2, 2016 by Canadian UnderwriterHurricane losses in the United States equal to at least 15% of industry aggregate surplus in 2016 would likely promote a shift toward positive pricing movement, although any upward movement would be dampened by existing underwriting capacity for primary and…
Global P&C insurance market forecast to grow at a compound annual growth rate of 5.77% from 2016 to 2020
May 31, 2016 by Canadian UnderwriterThe global property and casualty insurance market is forecast to grow at a compound annual growth rate (CAGR) of 5.77% during the period of 2016 to 2020, according to a new report from Research and Markets. The report from the…
Verisk Insurance Solutions expands FireLine to Western Canada
May 26, 2016 by Canadian UnderwriterVerisk Insurance Solutions announced on Thursday that it is expanding its FireLine wildfire risk management service to include the provinces of Alberta and British Columbia. FireLine, which is well-established in the western United States, enables property-specific assessment of wildfire risk…
Hannover Re’s 2016 Q1 net income down without elimination of positive special effect in prior-year quarter, up 12.7% with elimination
May 10, 2016 by Canadian UnderwriterHannover Re’s sharply improved underwriting results in property and casualty reinsurance for 2016 Q1 – coupled with the elimination of a positive special effect in 2015 Q1 – helped the world’s third largest reinsurer post a 12.7% hike in Group…
Economical Insurance combined ratio down 4.6 points in first quarter of 2016
May 10, 2016 by Canadian UnderwriterEconomical Insurance has reported a combined ratio of 101.1% in the first quarter of 2016 ending March 31, down 4.6 percentage points from the Q1 2015 combined ratio of 105.7%. Waterloo, Ont.-based Economical Insurance’s gross written premiums were up by…
Premiums earned up 4%, catastrophe losses up 181% at Allstate
May 9, 2016 by Canadian UnderwriterFirst-quarter underwriting income dropped about 73% year-over-year for The Allstate Corp. in the wake of two large hailstorms in late March in the southern United States. The Northbrook, Ill.-based insurer reported May 4 that catastrophe losses were $827 million during…
P&C industry in the U.S. marks third consecutive underwriting gain, but surplus declines on investment results: A.M. Best
May 9, 2016 by Canadian UnderwriterThe property and casualty industry in the United States marked a third consecutive year of underwriting profitability, with US$6.2 billion in underwriting income in 2015, according to an A.M. Best Company special report released on Friday. However, the lower level…
Berkshire Hathaway reports US$11.124 billion in insurance premiums earned in Q1 2016, up from US$9.540 billion in Q1 2015
May 9, 2016 by Canadian UnderwriterBerkshire Hathaway Inc. has reported US$11.124 billion in insurance premiums earned in the first quarter of 2016 ending March 31, up from US$9.540 billion in the first quarter of 2015. Omaha, Neb.-based Berkshire Hathaway released its financial results on Friday.…
Global reinsurance profits to decline on soft market conditions: Fitch
May 6, 2016 by Canadian UnderwriterGlobal reinsurance sector profits will fall below 2015 levels this year due to increasing pressure in underwriting and investment results as well as diminishing opportunities to deploy capital, according to a new report from Fitch Ratings. While the reinsurance sector…