The impact of low interest rates on insurer profitability is something that warrants more discussion, suggests a senior executive with one of the world’s largest reinsurers. “This is something that significantly impacts the profitability of the insurance and reinsurance industry,…
Expect 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,”…
Your clients may be paying higher rates but hard market may not be the right way to describe it, speakers suggested at a recent insurance conference. “I don’t personally know if I would call it a hard market yet. What…
The industry is making progress on getting a national flood insurance program, but a key challenge is getting all provinces, territories and Ottawa to agree on how it should work, the Insurance Bureau of Canada’s CEO suggested Tuesday. Unlike Britain…
The world’s second-largest reinsurer is looking for partners in the artificial intelligence space to help the reinsurer get a better idea of how much insured damage future wildfires could cause. Swiss Re is working with the Massachusetts Institute of technology…
Ciara Brady, who previously worked in Toronto for both Swiss Re and Chubb, becomes head of global liability for Allianz Global Corporate and Specialty effective Jan. 1, AGCS announced Tuesday. Brady will work out of Zurich and succeed Michael Hohmann…
As the southeastern United States braces for Hurricane Florence – one year after Hurricanes Harvey, Irma and Maria caused widespread destruction in the country – the question of whether there is sufficient reinsurance capacity is again thrust into the spotlight.…
Veronica Scotti, president and CEO of Swiss Re Canada, has been appointed chairperson of global partnerships for the reinsurer. Scotti has been Swiss Re Canada CEO since 2015, when she replaced Sharon Ludlow. Scotti joined Swiss Re in London, England…
Although mobile apps make it easier to rent rooms, some insurers have probably not considered the risks arising from short-term accommodations, speakers said Tuesday at Swiss Re’s annual breakfast meeting in Toronto. At the same time, they added, it should…
Swiss Re Ltd. reported Thursday a 2.3-point increase in its first-quarter combined ratio, as the reinsurer expects more than $300 million in claims from Cyclone Debbie, which caused widespread flooding in late March in Australia. Zurich-based Swiss Re released May…
Britain’s Flood Re program provides an “analogy for Canada” in insuring high-risk flood zones, while more research is needed to fully understand the economic impact of climate change, speakers suggested at Insurance Bureau of Canada’s recent Financial Affairs Symposium. Balz…