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News CatastrophesInsuranceMergers and Aqcuisitions

Vision that mega-cities nervous systems based on Internet; reality that locations will face nat-cat risk: Allianz SE

December 1, 2015 by Canadian Underwriter

The mega-city is coming – with two-thirds of the world’s population expected to be city dwellers by 2030 – but this development poses challenges regarding how best to strike a balance between growth, quality of life and climate protection, cautions

News InsuranceMergers and Aqcuisitions

Crawford & Company announces “new simplified operating structure”

November 30, 2015 by Canadian Underwriter

Crawford & Company, the Atlanta, Georgia-based independent provider of claims management solutions to insurance companies and self-insured entities, announced a “new simplified operating structure” last week. The new structure is designed to capitalize on Crawford’s competitive position, enhance the firm’s

News Insurance

Debt, earnings disconnect leaves mining companies vulnerable: EY

November 30, 2015 by Canadian Underwriter

“Market conditions are not showing signs of imminent improvement, and if this doesn’t change, only the fittest will survive,” Lee Downham, Ernst & Young’s global mining & metals transactions leader, cautioned in a statement Friday. Globally, mining companies are factoring

News CatastrophesClimate ChangeInsurance

2015 Q3 sees tenth consecutive quarterly decline for global insurance rates, casualty rate increases in certain regions driven by cyber

November 25, 2015 by Canadian Underwriter

Commercial insurance rates decreased globally during 2015 Q3 – posting a global composite decline of 4.8% – marking the tenth consecutive quarterly decline, notes the November 2015 edition of Marsh’s Global Insurance Market Quarterly Briefing. Released Tuesday, the briefing shows

News CatastrophesInsuranceMergers and Aqcuisitions

Allianz’s new three-year plan sets targets to increase earnings and profitability, implement digital processes

November 25, 2015 by Canadian Underwriter

Allianz SE plans to meet the transforming insurance industry head-on by strengthening resilience and creating scale in important markets in a bid to achieve new growth and profitability targets. The insurer “will strengthen its foundations with a multi-year Renewal Agenda,

News InsuranceMergers and Aqcuisitions

Fosun International completes acquisition of Ironshore interest

November 23, 2015 by Canadian Underwriter

Fosun International Limited has completed its acquisition of the remaining 80% equity interest in Bermuda-based Ironshore Inc., which will become an indirect wholly owned subsidiary of the company. Approvals have been received from all relevant regulatory authorities in the United

News InsuranceMergers and Aqcuisitions

Security, protecting property not top of mind for some U.S. homeowners: Allstate

November 17, 2015 by Canadian Underwriter

Visions of sugar-plums – not thoughts of how best to protect property – seem to be dancing in the heads of more than a third of polled homeowners in the United States as the festive season approaches, suggests a new

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

GEO commits to unleashing open data in a bid to address global challenges, including climate change

November 16, 2015 by Canadian Underwriter

In a time of exponential data growth, human development and climate change, the intergovernmental Group on Earth Observations (GEO) announced Friday that members are committed to sharing data on Earth observations. “We promote open access to data, knowledge and information,”

News InsuranceMergers and Aqcuisitions

Cooper Gay Swett & Crawford to sell North American business

November 13, 2015 by Canadian Underwriter

U.K.-based Cooper Gay Swett & Crawford (CGSC) announced Friday that the global wholesale, underwriting management and reinsurance broking group will pursue a sale of its North American business unit. “We believe this transaction will best serve the long-term interest of

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Optimism among SMEs highest in U.S.: Zurich survey

November 11, 2015 by Canadian Underwriter

Competition and a lack of consumer demand are top concerns among surveyed executives of small and medium-sized enterprises (SMEs) in the United States, despite the group being relatively optimistic about future business opportunities, Zurich Insurance Group reports. Released Wednesday, results

News CatastrophesInsurance

Hannover Re posts Group net income of 786.0 million euros in 2015 Q3, up from 695.4 million euros in prior-year quarter

November 4, 2015 by Canadian Underwriter

Hannover Re reports being well on track for solid year-end financial results, announcing Wednesday that Group net income was 786.0 million euros in 2015 Q3, a 13% increase over the 695.4 million euros in the prior-year quarter. The already good

News CatastrophesInsuranceMergers and Aqcuisitions

AIG reports net loss of US$231 million in 2015 Q3, down from net income of $2.2 billion in 2014 Q3

November 3, 2015 by Canadian Underwriter

American International Group, Inc. has reported the company has posted a net loss of US$231 million for the third quarter of 2015 compared to net income of $2.2 billion for the same quarter of 2014. “Compared to the prior-year quarter,