Despite inflation easing, Intact expects ongoing hard market
February 8, 2023 by David GambrillDespite lower inflation, Intact Insurance is nevertheless predicting an ongoing hard market in Canada in 2023 because of higher reinsurance rates and elevated natural catastrophes. “Looking at the [Canadian P&C insurance] industry, we see hard market conditions continuing, given rising…
P&C industry fastening its seatbelt for risk of global recession
June 20, 2022 by David GambrillFresh from emerging from a global pandemic, Canada’s P&C insurance industry is turning its mind toward the next item on its global risks list – the threat of an economic recession. Global economic recession topped the list of potential 2023…
Who was the world’s biggest brokerage in 2021?
June 7, 2022 by David GambrillMirror, mirror, on the wall, who’s the biggest brokerage of them all? Marsh McLennan, with revenue of US$9.5 billion and a global market share of approximately 15.4% in 2021, said a new report by Insuramore, a London, U.K.-based insurance and…
Why you can expect your reinsurance rates to go up on renewal
April 6, 2021 by David GambrillReinsurers in Canada’s P&C industry had a rough time negotiating through COVID last year, with the sector’s overall combined ratio skyrocketing from a profitable 92.6% in 2019 to an unprofitable 103.7% in 2020. Claims costs were a major force behind…