Segment
Reinsurance
Guy Carpenter names new head of Canadian operations
August 5, 2020 by David GambrillPeter Askew has been named president and CEO of the Canadian business of global reinsurance specialist Guy Carpenter & Company LLC, a business of Marsh & McLennan Companies. Effective immediately, Askew will be responsible for Guy Carpenter’s reinsurance broking activities…
How high cat losses could go this year
August 4, 2020 by Adam MalikAlberta has become the epicentre for cat losses this year as combined insured damage could reach, if not exceed, $2 billion in the province alone after multiple natural catastrophes have hit various regions over a four-month span. The calculations come…
Pandemic Prognosis
August 3, 2020 David Gambrill, Editor in ChiefCanadian Underwriter caught up with Stephen Stewart, president and CEO of Stewart Specialty Risk Underwriting Ltd., who shared his thoughts on the impact of the pandemic on MGAs
Swiss Re Group books $2.5 billion for pandemic-related losses
July 31, 2020 by David GambrillSwiss Re today reported COVID-19 claims and reserves totalling $2.5 billion across the Group, resulting in a net loss of $1.1 billion in the first half of 2020 (all figures in U.S. dollars). “Based on current information and a prudent…
The other financial hit your commercial client takes after a flood
July 29, 2020 by Adam MalikFM Global is raising concerns about companies that don’t practice flood mitigation on their properties, warning that flooding perils decrease an organization’s value by 5% a year after the event. Investors will have their confidence shaken regarding the company’s decision-making…
A P&C insurance-specific guide for returning to the office: Deloitte
July 21, 2020 by David GambrillAs Canadian P&C insurance industry leaders start to think about bringing employees back to the office, now is a good time to re-think the work required, the workforce skills that will be needed in the future, and what the future…
What reinsurance renewals looked like in July: Willis Re
July 20, 2020 by David GambrillAnyone expecting the global pandemic to cause a dramatic reduction of global capital during 2020 Q2 renewals on July 1 were in for a pleasant surprise, as suggested in a recent report by Willis Re. “Q2 2020 has witnessed a…
Lloyd’s proposes “open source” frameworks for future pandemic coverage
July 6, 2020 by David GambrillLloyd’s of London is proposing three “open-source frameworks” to provide a blueprint for better protecting society against systemic catastrophic events such as pandemics, after noting the market will pay out between $3 billion and $4.3 billion to its global customers…
Opinion: Here’s how to set up future BI pandemic coverage
June 12, 2020 Mary Kelly and Anne KleffnerIf the property and casualty insurance industry wants to avoid future entanglements around business interruption insurance, as seen during the coronavirus pandemic, then a robust public-private partnership (P3) might provide a solution. COVID-19 has highlighted the issue of how to…
CU Webinar: Industry execs to discuss impact of economic recession on Canada’s P&C industry
June 12, 2020 by David GambrillWay back in 2020 Q1, before the world turned upside down, the Canadian property and casualty insurance results were on the rebound from a difficult prior year. But on Mar. 11, 2020, the World Health Organization declared the novel coronavirus…
Lloyd’s estimates COVID’s cost to the industry and its own market
May 15, 2020 by Greg MeckbachThe Lloyd’s market will pay “in the range” of $3 billion to $4.3 billion “as a result of the far-reaching impacts of COVID-19,” the Corporation of Lloyd’s announced Thursday. Comparing the overall COVID-related losses to the 2001 terror attack in…
Aon names new president of Reinsurance Solutions in Canada
May 8, 2020 by David GambrillMatt Wolfe has been appointed the new president of Reinsurance Solutions in Canada, Aon plc announced Friday. “In his new role, Matt will lead the Canadian Reinsurance solutions team and bring unmatched analytics and insights to clients across the country,”…