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Northeast U.S. winter storm fourth most powerful since 1950: NOAA

January 29, 2016 by Canadian Underwriter

The January 22-24 blizzard is among the most powerful winter storms in the United States – ranked 4th – to impact the Northeast U.S. since 1950, according to the National Oceanic and Atmospheric Administration (NOAA). The storm, which dumped heavy

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Bermuda (re)insurance M&A likely to persist, ratings outlook for U.S. p&c and global reinsurance stable

January 28, 2016 by Canadian Underwriter

The pace will slow from 2015, but mergers and acquisitions (M&A) activity and consolidation in the Bermuda insurance market will continue in 2016, notes a new report issued this week by Fitch Ratings. “Organic growth options are limited and scale

News InsuranceMergers and Aqcuisitions

Winter storm could become first billion-dollar weather event of 2016 for U.S.

January 26, 2016 by Canadian Underwriter

The winter storm that delivered record-breaking snow totals and hurricane-force wind gusts – affecting 20 states in the eastern United States and paralyzing a number of major cities – could represent the first billion-dollar weather event of 2016 for the

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Energy, metals & mining issuers placed on review for downgrade: Moody’s

January 25, 2016 by Canadian Underwriter

The ratings outlook for 120 oil & gas and 55 mining companies is being reconsidered, with Moody’s Investors Service announcing Friday that it has placed the ratings on review for downgrade. The reviews “reflect a mix of declining prices that

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Swiss Re, Veolia, The Rockefeller Foundation team up to help build cities’ resilience to critical risks

January 22, 2016 by Canadian Underwriter

The Rockefeller Foundation, Veolia and Swiss Re Corporate Solutions Ltd. have unveiled an infrastructure recovery initiative meant to help cities worldwide build resilience to critical risks and speed up economic recovery following catastrophic events. The partnership is designed to support

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

U.S. p&c insurers can expect a challenging 2016, need to emphasize underwriting discipline: p&c forum

January 20, 2016 by Canadian Underwriter

Property and casualty insurers in the United States can expect a challenging 2016, speakers said at the recent 20th annual Property/Casualty Joint Industry Forum, as the diminishing tailwinds of reserve releases struggle against headwinds of low interest rates. Panel members

News InsuranceMergers and Aqcuisitions

Global economic loss from potential pandemics could average more than US$60 billion per year, new report says

January 15, 2016 by Canadian Underwriter

Infectious disease outbreaks that turn into epidemics or pandemics could cause trillions of dollars of damage to economic activity and kill millions of people, said a report released this week by the international independent Commission on a Global Health Risk

News InsuranceMergers and Aqcuisitions

U.S. p&c commercial lines 2016 outlook negative; personal lines outlook stable: A.M. Best

January 8, 2016 by Canadian Underwriter

Anticipating more downgrades than upgrades in the coming year, A.M. Best reports that it is maintaining its negative outlook on the commercial lines segment of the United States property/casualty industry. The negative outlook is despite relatively solid aggregate results over

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AIG makes strategic investment in workplace wearables start-up

January 7, 2016 by Canadian Underwriter

American International Group, Inc.’s latest investment in technology meant to support data-driven approaches that help clients manage increasingly complex risks involves Human Condition Safety (HCS). Terms of AIG’s strategic investment in HCS – an early-stage technology start-up company developing wearable

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AGCS launches crisis management division in North America

January 7, 2016 by Canadian Underwriter

Allianz Global Corporate & Specialty (AGCS) is looking to help its North American clients with preventing, preparing for and recovering from crisis incidents with the launch of a new division. The company’s new Crisis Management division will operate from within

News CatastrophesClimate ChangeInsurance

2015 cat bond issuance activity by new limit fell 25% to US$6 billion year over year: PCS

January 6, 2016 by Canadian Underwriter

Catastrophe bond issuance activity by new limit fell approximately 25% year over year in 2015 to US$6 billion, while issuance of catastrophe bonds including coverage for Canada witnessed a shift, notes a new report issued Wednesday by Property Claims Services

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M&A appetite among Canadian execs strongest since 2009; continuing prudence signals a thoughtful market: EY

December 2, 2015 by Canadian Underwriter

The percentage of polled Canadian executives with mergers and acquisitions (M&A) plans in the works has tripled over the past year, notes a report released Tuesday by Ernst & Young. Buoyed by optimism about the domestic economy, 73% of surveyed