Canadian Underwriter


Canada absorbs cat, U.S. takes steps

September 1, 1999 by Canadian Underwriter

Foods that hit New Brunswick and Nova Scotia the week of July 26 have formed one of the largest insured losses to hit Atlantic Canada this decade. Close to 900 claims have been submitted to date and insurers predict damages


U.S. Reinsurance Market PRICING STABILIZES

September 1, 1999 Sean Mooney, senior vice president at Guy Carpenter & Company In

Following a lengthy period of stagnation, pricing within the U.S. reinsurance market seems to have stabilized, with even some evidence in the market of rate increases. However, until the market’s excess capacity is depleted, buyers of reinsurance will continue to enjoy the benefits of highly competitive pricing.


Extreme Perils

June 1, 1999 Sean van Zyl, Editor

Natural disasters such as extreme weather, a volcanic eruption or an earthquake, are often quaintly referred to in the insurance world as “Acts of God”, adverse events which are seemingly unexplainable or beyond man’s control. Noticeably, the economic and insurance


Modeling risk, or maybe not…

June 1, 1999 Sean van Zyl, Editor

With the rising trend of North American natural catastrophe losses, a great deal of attention is being turned to the development of computer simulated cat risk programs. Cat risk models are hardly a new technological advancement for the insurance industry,

Growth in net written Premiums% increase in net written premiumsSources: A.M. Best. Projections by Guy Carpenter.

U.S. Insurance Market Outlook

April 1, 1999 Sean Mooney, senior vice president at Guy Carpenter & Company In

Forecasting the U.S. insurance industry in recent years has been a rear view mirror exercise. The rate of growth in the industry has been in the same 2% to 3% range and profitability indicators have shown little change from year


Transatlantic reports record 1998

April 1, 1999 by Canadian Underwriter

Global reinsurer Transatlantic Holdings Inc. has reported record net income earnings for 1998, up 33.4% from 1997’s US$185.5 million to 1998’s $247.5 million. Net income diluted on a common share basis rose $1.76 from 1997’s $5.34 to 1998’s $7.10. Record


New Year’s weather hit

March 1, 1999 by Canadian Underwriter

The snowstorm which almost buried Toronto for the first two weeks of the new year is expected to cost insurers roughly $50 million, the Insurance Bureau of Canada (IBC) estimates. Around 115cm of snow fell on Toronto with heavy accumulations


Ice Storm Lessons learnt

February 1, 1999 Paul Kovacs, Executive Director, Institute for Catastrophic Loss

At the time, it captivated Canadians across the country and even today is at the top of book best seller lists. The raw power of nature displayed by the ice storm which paralyzed south eastern Ontario, Quebec and parts of


U.S. cat losses continue

January 1, 1999 by Canadian Underwriter

Catastrophe losses continued to dampen U.S. property and casualty underwriters’ results for the third quarter of 1998, according to A.M. Best Company. The industry’s net income for the period fell 15% from the previous year’s level, due to higher underwriting