Segment
Reinsurance
Twenty more years of low interest rates? What that and a recession will mean for Canadian P&C insurers
October 4, 2019 by David GambrillIf P&C insurers are looking to use their investment returns to offset inadequate pricing strategies, Swiss Re has a chilling prediction for them – low interest rates could be with us for another 20 years or longer. Jerome Jean Haegeli,…
What concerns the Ontario regulator about OSFI’s proposed reinsurance guidelines
October 3, 2019 by Jason ContantThe CEO of Ontario’s new regulator expressed concern Tuesday about the extent to which the P&C insurance industry says it will be required to provide more capital to comply with the proposed new reinsurance guidelines of Canada’s solvency regulator. The…
$30-billion sticker shock for OSFI’s proposed reinsurance rules
September 24, 2019 by David GambrillCanada’s property and casualty industry would have to post an additional $21 billion to $30 billion in capital to insure Canadian risks if the country’s solvency regulator moves forward with proposed new rules as currently drafted, the industry warns. On…
Where Canada’s resilience to economic shock ranks globally
September 10, 2019 by Jason ContantThe global economy now has less capacity to absorb a shock than it did in 2007 (pre-global recession), but Canada is faring well – it is the second-most economic resilient country in world, according to the Swiss Re Institute. In…
Sign of the times: Why this bank bailed out of P&C reinsurance
August 28, 2019 by David GambrillBuffeted by severe weather claims, the Bank of Montreal has decided to exit the property and casualty reinsurance side of the business, BMO announced during a conference call Tuesday. “In Q4 of last year, we said we were reviewing ways…
Shifting Sands
July 7, 2019 Jason Contant, Online EditorYour client’s home falls into a sinkhole — coverage denied, right? How coverage may still apply, depending on a shift in circumstances
Why Swiss Re says insurance profitability will remain ‘under pressure’
July 5, 2019 by Greg MeckbachExpect the low-interest-rate environment to continue for at least two more years, Swiss Re warned Thursday. “Insurers will continue to operate in a low-interest-rate environment for the next two years at least, meaning that industry profitability will remain under pressure,”…
How to make earthquake insurance sexy
June 28, 2019 by Jason ContantQuebec’s financial regulator, the Autorité des marchés financiers (AMF), is working with the property and casualty insurance industry to make the earthquake insurance product more attractive to insurers, brokers and consumers. In its 2017-2020 Strategic Plan released Thursday, AMF said…
How budget cuts will affect flood risk mitigation
June 5, 2019 by Greg MeckbachFlood risk mitigation in Ontario could start to depend a lot more on the willingness of corporations and individuals to donate money to the conservation authorities. “The conservation authorities are going to have to make a better case for outreach…
Provinces asking feds for $138 million to help buy out flooded properties
May 16, 2019 Jordan Press - THE CANADIAN PRESSOTTAWA – Flood-ravaged provinces are asking the federal government to provide almost $138 million to move or buy out homeowners affected by previous years’ inundations, according to new data that gives a glimpse into the national costs of helping residents…
Munich Re Canada appoints new president and CEO
May 14, 2019 by Jason ContantMunich Reinsurance Company of Canada and Temple Insurance Company (a part of Munich Re) has appointed Claus-Ulrich Kroll as president and CEO of both companies. In his new role, Kroll will be responsible for the operation of all of Munich…
One in 1,000-year flood happening in Quebec
April 26, 2019 Giuseppe Valiante and Stephane Blais - THE CANADIAN PRESSMONTREAL – Quebec public security officials called for the immediate evacuation of an area along the Rouge River west of Montreal on Thursday because of the risk a hydro dam could fail. Simon Racicot, director of production and maintenance with…