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Hannover Re records Group net income of 549 million euros in Q3 despite substantial nat cat losses

November 9, 2017 by Canadian Underwriter

Hannover Re reported on Wednesday a Group net income of 548.9 million euros for the third quarter of the year ending Sept. 30, despite an above-average burden of catastrophes losses. The Group net income was down from 791.9 million euros

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Berkshire Hathaway net earnings drop to US$4.1 billion in Q3, down from US$7.2 billion in Q3 2016

November 6, 2017 by Canadian Underwriter

Omaha, Nebraska-based Berkshire Hathaway Inc. has reported net earnings attributable to shareholders of US$4.1 billion for the third quarter of 2017 ending Sept. 30, down from US$7.2 billion in Q3 2016. For the first nine months of the year, net

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Combined ratio deteriorates 38.9 points for Fairfax amid hurricane losses

November 3, 2017 by Canadian Underwriter

Fairfax Financial Holdings Ltd. has reported an underwriting loss of $833 million during the three months ending September 30, with its insurers’ share of losses from three recent hurricanes and an earthquake in Mexico amounting to $960 million. All figures

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Q3 reinsurance loss ratio up 56.5 points for Arch Capital

November 2, 2017 by Canadian Underwriter

After estimating it could lose nearly $320 million due to natural catastrophes including major North Atlantic hurricanes in the three months ending September 30, Arch Capital Group Ltd. has reported its combined ratio in reinsurance deteriorated 51.5 points, from 75.9%

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Cats a significant driver in Everest Re Group’s posting US$639.4 million net loss in 2017 Q3

October 31, 2017 by Canadian Underwriter

Losses from hurricanes Harvey, Irma, Maria (HIM) and the Mexico City earthquake contributed to Everest Re Group, Ltd. posting a US$639.4 million net loss for 2017 Q3 compared to net income of US$295.4 million for the prior-year quarter. For the

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2016 central Italy earthquakes cost an estimated 208 million euros: PERILS

October 26, 2017 by Canadian Underwriter

The series of earthquakes that impacted central Italy one year ago have cost 208 million euros, the independent Zurich-based organization PERILS has estimated. On Thursday, PERILS disclosed its final property insurance loss estimate for the earthquakes that struck Italy between

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Lloyd’s revises Harvey, Irma and Maria claims estimates to US$4.9 billion

October 23, 2017 by Canadian Underwriter

Lloyd’s has revised its net claims estimates for Hurricanes Harvey and Irma to a combined US$3.9 billion, plus a preliminary claims estimate for Hurricane Maria of US$0.9 billion. In a statement on Monday, Lloyd’s also reported that the world’s specialist

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Analyzing near misses can help with capacity management, capital calibration: RMS, Lloyd’s

October 23, 2017 by Canadian Underwriter

Insurers and reinsurers can benefit by considering how near misses – such as an incident three months ago when an Air Canada Airbus A320 nearly landed on a taxiway with four passenger jets – might have become major disasters, Risk

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Automated online office insurance “could make brokers redundant”: B.C. brokerage

October 23, 2017 by Canadian Underwriter

A Canadian small business insurance provider, Front Row Insurance Brokers, has launched a fully automated system that allows small business owners to buy and download business liability insurance and office contents insurance policies online, without ever having to talk to

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ILS market ready to deal with “wake-up call” of Q3 nat cats: Willis Towers Watson Securities

October 20, 2017 by Canadian Underwriter

Insurance-linked securities (ILS) investors are responding to the recent uptick in natural disasters by making payments to ceding companies, while at the same time continuing to raise more money and preparing to make new investments, Willis Towers Watson (WTW) Securities

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Record number of registrants in 2017 Great British Columbia ShakeOut earthquake drill: IBC

October 20, 2017 by Canadian Underwriter

Awareness of earthquake risk in British Columbia looks to be on the rise if registrants for the 2017 Great British Columbia ShakeOut, which reached record numbers this year, is any indicator. A record 886,000 British Columbians participated Thursday, joining millions

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Zurich estimates net claims related to Hurricanes Harvey, Irma and Maria of US$700 million

October 19, 2017 by Canadian Underwriter

Zurich Insurance Group has become that latest insurer to estimate the impact of Hurricanes Harvey, Irma and Maria on its book of business. Zurich said in a press release on Thursday that it currently estimates aggregate claims in the third