Segment
Reinsurance
How inflation can become a ‘silver lining’ for the insurance industry
September 15, 2022 Philip PoradoInterest rates will keep going up. But that won’t be entirely negative for the insurance industry, or the longer-term fundamentals of the broader economy, suggested a new Sigma report from Swiss Re. Its authors called for two fundamental changes on…
Alberta’s captive insurance option gets another boost
September 12, 2022 Philip PoradoNew Alberta legislation allowing captive insurance companies to set up and domicile in the province has started to bear fruit. Insurance and reinsurance broker BMS is launching BMS Captive Insurance Services. The Alberta-based division will provide strategic advisory services and…
Lessons from COVID-19 will help brokers get clients through a recession
September 9, 2022 David GambrillIf a long-predicted recession comes to pass, brokers will need to stay close to their clients’ changing needs. But in some ways, commercial insurance brokers have gained an advantage from the discipline developed while navigating their clients through COVID-19. Those…
How de-globalization will generate $33 billion in commercial premiums
September 9, 2022 by David GambrillCountries are starting to restructure their supply chains, a ‘de-globalizing’ phenomenon that could generate $33 billion in new global commercial P&C insurance premiums over the next four years, Swiss Re predicted. In one example, ‘re-shoring’ supply chains means moving commercial…
What war, sanctions, inflation and looming recession mean for reinsurance
September 8, 2022 Philip PoradoDespite inflation, flagging consumer confidence and slowdowns in GDP globally, reinsurers have been experiencing a firming cycle that’s lasted 19 consecutive quarters, noted David Priebe, chairman of global risk and reinsurance specialist Guy Carpenter during a Sept. 7 briefing call.…
3 ways brokers can help oil and gas companies maintain coverage
September 6, 2022 Philip PoradoBrokers with clients in the oil and gas industry are closely watching statements by insurers announcing intentions to exit from coverage of Canada’s oil sands. Those insurers, like many other companies globally, are under intense pressure from consumers and governments…
If recession hits, which specialty lines will create problems for brokers?
September 1, 2022 David GambrillConsumers respond predictably to a flagging economy – they cut back on spending. While Canada posted 3.3% annualized gross domestic product (GDP) growth in 2022 Q2, that number lagged analysts’ 4.4% forecast, and July’s real GDP number inched down 0.1%.…
The good and bad news for reinsurers
August 31, 2022 by Jason ContantThe global reinsurance industry appears to be in a “state of equilibrium,” with positive and negative factors countering each other, according to a new report from AM Best. Despite lingering economic and operational challenges stemming from the COVID-19 pandemic, AM…
Will recession hit brokers with a new D&O hard market?
August 30, 2022 David GambrillJust when pandemic chaos was starting to ease, the light that Canada’s commercial insurance brokers saw at the end of the tunnel is starting to look like an onrushing train named the Recession Special. With recent lifting of COVID-19 public…
Will insurers find opportunity in Europe’s need for Canadian LNG and hydrogen?
August 26, 2022 Philip PoradoCanadian insurers have a future opportunity to cover the infrastructure required for hydrogen energy products, commercial insurance brokers say. For example, if Europe wants its efforts to reduce dependence on Russian natural gas supplies to be successful, it will need…
Commercial bond demand prompts new hire at AXA XL
August 22, 2022 Canadian Underwriter StaffContinued demand among Canadian businesses for commercial bonds prompted AXA XL to appoint Cedric Franklin as vice president and regional director for Canada, the company said. “Commercial bonds are in high demand from companies seeking alternative financial solutions at a…
Why global reinsurers are high-fiving right now
August 17, 2022 by Jason ContantFor the first time in five years, global reinsurers posted an underwriting profit, albeit a small one. The average combined ratio of the Top 10 global reinsurers was 99.2% in 2021, significantly better than the 104.9% posted in 2020, credit…