Segment
Reinsurance
Mother Nature’s wrath
December 7, 2020 Derek ClouthierAlberta continues to endure the most expensive insured weather events in Canada. What’s happening and what can be done about it?
B.C. institutional investor to acquire consolidator of P&C run-off books
December 4, 2020 by Jason ContantOne of Canada’s largest institutional investors has joined forces with Cinven, an international private equity firm, to acquire Compre, a specialist global consolidator of closed books of non-life insurance policies. Victoria-based British Columbia Investment Management Corporation (BCI) and Cinven announced…
Insurer CFOs share personal experiences dealing with cybercriminals
December 1, 2020 by Jason ContantAbout two years ago, Northbridge Financial Corporation’s chief financial officer Craig Pinnock received an email purportedly from Northbridge CEO Silvy Wright requesting help with a wire transfer. “Silvy’s name’s there, Silvy’s signature, so I fire back quickly, ‘Sure, no problem.…
Swiss Re’s new head of P&C client markets in Canada
November 16, 2020 by David GambrillAgis Kitsikis has been appointed as Swiss Re’s new head of P&C client markets for Canada and the English Caribbean, effective immediately. He succeeds Stefan Behr, who recently accepted the position as Swiss Re’s head of business development for Europe,…
Why further rate increases could be needed after 2021
October 30, 2020 by Greg MeckbachDespite double-digit price increases in several commercial lines, premiums will need to rise further, a Bermuda insurer CEO said Thursday. “More rate action is needed and likely it will take beyond 2021 in some lines to get to rate adequacy,”…
Watch for governments to transfer financial risk from natural disasters to insurers: Swiss Re
October 16, 2020 by Greg MeckbachThere is growing awareness that governments can transfer the financial risk of natural disasters to both insurance and capital markets, a Swiss Re expert observes. In Asia, Africa, the United States and Britain, there are examples of national and sub-national…
Storm System
October 15, 2020 Greg Meckbach, Associate EditorSeveral pressures on rate suggest reinsurance premiums will rise during the January 2021 renewal season. By how much? Reinsurance execs look into the crystal ball
Cat bonds starting to attract this type of investor
October 15, 2020 by Greg MeckbachCatastrophe bonds are gaining a reputation as a socially responsible investment, a CatIQ Connect speaker said Wednesday. “Investors seeking investments in the [environmental, social and governance] market are starting to classify cat bonds as a responsible investment,” said Alyson Slater,…
Fundraiser started for children of Belynda Cleland Kerelchuk
October 13, 2020 by David GambrillA GoFundMe campaign, Belynda’s Kids, has been started to raise funds for the care of the children of the late Belynda Cleland Kerelchuk, who is listed on LinkedIn as the senior vice president at Aon Reinsurance Solutions. At the time…
4th Top Story of 2020: Police charge man for murder in death of a Canadian P&C insurance executive
October 9, 2020 by David GambrillPeel Regional Police are investigating a domestic homicide near Toronto, after finding a woman who is believed to be a Canadian senior insurance executive pronounced dead at the scene. Police say they received a call for a disturbance in the…
‘Bold and underline that’ — What this Aon exec says is the top reinsurance issue
September 25, 2020 by Adam MalikSocial inflation is the top item of concern for an Aon reinsurance executive, even if it’s an issue being exacerbated in the United States rather than in Canada. “I would bold and underline that — that is, I think, the…
Feds urged to consider backstop for ‘tail risks’ such as pandemic, quake and flood
September 25, 2020 by David GambrillDiscussions around providing pandemic coverage in the future are highlighting the need to develop a Canadian federal government backstop for other serious “tail risk” events such as earthquakes, floods and wildfires, says the president of the Property and Casualty Insurance…