659 articles for fort mcmurray
SCOR reports combined ratio of 93.8% for first half of 2016, up from 90.9% for the first six months of 2015
July 28, 2016 by Canadian UnderwriterGlobal reinsurer SCOR announced on Wednesday that its Global P&C segment recorded “strong technical profitability with a robust net combined ratio of 93.8% despite a high number of events in all perils and regions in the second quarter of 2016…
Q2 combined ratio up 5.3 points at Axis Capital
July 27, 2016 by Canadian UnderwriterReinsurance provider and commercial specialty carrier Axis Capital Holdings Ltd. reported Tuesday its financial results for the second quarter, reporting a 76% increase in net income but a combined ratio of 102.2%, after large losses including the Alberta wildfires and…
Q2 combined ratio climbs 7.1 points for Everest Re after Alberta wildfire, Texas hail, Ecuador quake
July 26, 2016 by Canadian UnderwriterEverest Re Group Ltd. announced Monday that the net impact of three catastrophes – including the Fort McMurray wildfire – was $105.4 million in the three months ending June 30. “Catastrophe losses, net of reinsurance, amounted to $123.8 million in…
Ottawa’s approach to disaster response, recovery does not address increasing frequency of extreme weather
July 25, 2016 by Canadian UnderwriterUneven distribution of disaster events in Canada means the federal government should rethink its current approach to disaster response and recovery, including reinstating Ottawa’s share of disaster-related costs, suggest Canada’s Premiers, who Friday wrapped their 2016 Summer Meeting in Whitehorse.…
Global insured losses hit $30B in the first half of 2016: Impact Forecasting
July 21, 2016 bySevere convective storms caused the most insured losses
Argo Group International Holdings Ltd., Blue Capital Reinsurance Holdings Ltd. report Alberta wildfires will have second-quarter impact
July 18, 2016 by Canadian UnderwriterEstimated losses from the Fort McMurray wildfires have hit another two companies operating in the reinsurance industry, with Bermuda-based Argo Group International Holdings Ltd. and Blue Capital Reinsurance Holdings Ltd. reporting late last week the event will have an impact…
Endurance’s estimated financial impact of several Cat events in 2016 Q2, including Alberta wildfires, is US$55.5 million
July 15, 2016 by Canadian UnderwriterBermuda-based Endurance Specialty Holdings Ltd. reported Thursday that the company’s initial estimated net negative financial impact of several catastrophic events in 2016 Q2, including the wildfires in Alberta, is US$55.5 million. The events included in the initial estimate include the…
‘Prudent’ municipal development needed to reduce catastrophe losses: IBC
July 14, 2016 by Canadian UnderwriterWith the recent wildfire in Fort McMurray, Alta. being the most expensive natural disaster in Canadian history and in the same province as Canada’s second most expensive catastrophe, officials from Insurance Bureau of Canada recently suggested that building codes and…
Half of Aspen’s Q2 natural catastrophe loss from Alberta wildfire
July 14, 2016 by Canadian UnderwriterThe recent wildfires in Alberta cost Aspen Insurance Holdings Ltd. roughly US$30 million, net of reinsurance and reinstatement premiums, the Hamilton, Bermuda-based carrier suggested in a press release Wednesday. Aspen’s initial estimate, of pre-tax losses, net of reinsurance and reinstatement…
Nat cats in Q2 2016 cost Chubb an estimated US$390 million
July 13, 2016 by Canadian UnderwriterChubb Limited has estimated that natural catastrophe losses in the second quarter of 2016 cost the insurer US$390 million pre-tax, or US$315 million after tax. According to Chubb’s estimate, released on Tuesday, of the pre-tax total, US$320 million is from…
Total worldwide economic losses for first half of 2016 at US$70 billion, up US$11 billion from 2015 half-year totals: Munich Re
July 12, 2016 by Canadian UnderwriterTotal worldwide economic losses for the first half of 2016 were US$70 billion, of which US$27 billion were insured, significantly higher than the first year losses of US$59 billion in 2015, of which US$19 billion were insured, Munich Re said…
At the Crossroads
July 4, 2016 by Canadian UnderwriterHeather Matthews, incoming president of the Canadian Independent Adjusters’ Association, believes the claims industry is at a crossroads, but that adjusters are up to the challenge.