Claims
A “benign natural catastrophe experience” helped Swiss Re post net income of $1.2 billion for the first quarter of 2014, although that result is a decrease from the $1.4 billion the reinsurer saw in Q1 last year. Property and casualty reinsurance net income reached $1.0 billion for the quarter, Swiss Re said Wednesday. All figures […]
By Canadian Underwriter | May 7, 2014
2 min read
Hannover Re has reported a group net income of 233 million euros for the first quarter of 2014, up from 231.2 million euros in the same period of 2013. That profit “was driven by a very pleasing underwriting result in non-life reinsurance and good investment income,” Ulrich Wallin, the company’s CEO, said in a statement. […]
Severe weather and flash flooding in the United States last month likely were the year’s first billion-dollar economic loss event, Impact Forecasting, the catastrophe model development arm of Aon Benfield said Wednesday. In its monthly global recap report, the firm noted that over several days in April, roughly 70 tornadoes touched down across more than […]
JASPER, ALTA. — Officials with the Insurance Brokers Association of Ontario (IBAO)’s telematics subsidiary have discussed usage-based auto insurance with the Alberta regulator and are urging Alberta’s brokers to tell carriers that brokers need to have access to policyholders’ telematics data. Colin Simpson, chief executive officer of IBAO subsidiary Independent Broker Resources Inc. (IBRI), noted […]
4 min read
Intact Financial Corporation reports that harsh winter conditions resulted in 4.3 points of catastrophe losses and higher claims frequency, contributing to the combined ratio increasing in 2014 Q1 compared to 2013 Q1. Weather’s impact was also reflected in the insurer’s net operating income for the quarter ended March 31, 2014, notes a statement Wednesday announcing […]
3 min read
Global insurance rates declined in the first quarter of the year, mainly driven by softening property rates, Marsh said in its Global Insurance Market Quarterly Briefing, released this week. Rates tracked by the Marsh Risk Management Global Insurance Index declined for the fourth consecutive quarter and it is now at its lowest level since the […]
By Canadian Underwriter | May 6, 2014
Saskatchewan Government Insurance is putting money behind licence plate reading technology for the RCMP and municipal police agencies. The automatic licence plate readers use infrared technology to scan licence plates and alert police when the plate is linked to a stolen or unregistered vehicle, a suspended driver, a reported impaired driver, or even a person […]
1 min read
American International Group has reported net income of $1.6 billion for the first quarter of the year, down from $2.2 billion in the first three months of 2013. After-tax operating income attributable to AIG was $1.8 billion for the first quarter of 2014, compared to $2.0 billion for the prior-year quarter. Insurance pre-tax operating income […]
WELLINGTON, New Zealand – Unemployed New Zealanders are being offered cash by the government to move to the earthquake-damaged city of Christchurch and join in the rebuilding effort. The government announced Tuesday it would pay welfare recipients 3,000 New Zealand dollars to move to the city if they found any kind of full-time work there. […]
JASPER, ALTA. — The frequency and severity of some natural disasters will increase and Alberta “has had more than its share” of weather-related catastrophes, but insurance brokers can help prevent future losses by advising homeowners how to adapt, speakers told the province’s brokers Monday. “The fact that we will have more heavy rain, more wildfire […]
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