Fitch comments on potential Aviva-Prudential merger
March 21, 2006 by Canadian UnderwriterFitch Ratings predicts any merger between Aviva and Prudential would result in “downward pressure” on Prudential’s current ‘AA’ rating and a “potentially positive” effect on Aviva’s current ‘A+’ rating.Fitch made its observation following Aviva’s recent announcement of its proposal to…
Bermuda 2005 start-ups face tough market conditions
March 3, 2006 by Canadian UnderwriterThe 2005 class of Bermuda reinsurance start-ups will face much tougher market conditions, is writing less diverse property risks, and is more reliant on short-term, high return investment money than their predecessor Bermuda start-ups in 2001, according to a special…
U.S. and U.K. renewals: a ‘tale of two markets’
February 1, 2006 by Canadian UnderwriterJanuary renewals in the U.S. and Europe are telling a “tale of two markets,” according to Grahame Millwater, the chairman and CEO of Willis Re. In its Jan. 23, 2006 newsletter, A.M. Best notes “a few months after the record-breaking…
2006 I.T. FOCUS: Reality Check
February 1, 2006 Craig HarrisThe CSIO Portal dream is over. What’s Next?
January renewals show “tale of two markets”
January 20, 2006 by Canadian UnderwriterJanuary renewals in the United States and Europe are telling a “tale of two markets,” according to Grahame Millwater, the chairman and CEO of Willis Re, who was quoted in the recent edition of A.M. BestWeek.A.M. Best notes in the…
Tampering with the Evidence
January 1, 2006 Emily Larose and Glenn Zakaib, Cassels Brock & Blackwell LLPWhen it comes to litigating insurance claims, be careful what you throw away. Where spoliation is concerned, Canadian courts aren’t kind to parties that would alter or destroy evidence to help their case.
Moves (January 01, 2006)
January 1, 2006 by Canadian UnderwriterThe KRG Insurance Group has appointed five new additions to its team. Paul Martin, CIP, president and chief operating officer, welcomes: Dave Potter, CRM, to the position of vice president of commercial lines and claims; Lyna Newman, FCIP, CRM to…
Insurance industry makeover
December 1, 2005 Mary Lou O'Reilly, Vice president of public affairs and marketing at the Insurance Bureau of CanadaThe Insurance Bureau of Canada says that after several tough years of negative media coverage, it’s time to start re-telling positive stories about the P & C insurance industry. Refocusing on the industry’s longstanding tradition of injury prevention and safety promotion, the IBC is committed to “leading the charge to restore an image that we believe has been unfairly tarnished.”
Insuring with the elephant
December 1, 2005 Darrell Leadbetter, Paul Kovacs and Jim Harries PACICCInternational risks to Canadian insurer solvency
Greenlight Re opens for business in Cayman Islands
November 17, 2005 by Canadian UnderwriterThe Cayman Islands Monetary Authority (CIMA) has welcomed a new licensee, Greenlight Re, a Cayman-based global property and casualty reinsurance company, to the islands.The CIMA said in a press release that the recent licensing of a company providing open-market reinsurance…
What’s New: In brief (November 08, 2005)
November 8, 2005 by Canadian UnderwriterCanada’s home, car and business insurers and Ontario Safety League (OSL) are joining forces with the Insurance Bureau of Canada (IBC) to implement a province-wide community-driven program to help motorists get home safely during the holiday season. The vice-president of…
Reinsurance Outlook 2006 Post-Katrina
November 1, 2005 by Canadian UnderwriterHurricane Katrina has reinsurers talking about how to handle record-breaking catastrophe losses as the 2006 renewal season begins. Already there is talk of price hikes and signs of public share offerings. How much of this is a long-term reaction to losses arising out of hurricanes, and what other issues face the reinsurance market as we enter the Post-Katrina world? We’ve asked 11 prominent reinsurance contributors to answer these questions and more.