Industry
OPTIS Partners has likened recent mergers and acquisitions (M&A) activity among U.S. and Canadian agencies selling p&c insurance and employee benefits to an explosion, with the 178 reported transactions in 2017 Q1 dwarfing the 115 deals in the prior-year quarter. “The growth was impacted, in part, from the formation of Alera Group, a new private-equity […]
By Canadian Underwriter | April 13, 2017
4 min read
Neither the behaviour of personal injury lawyers nor “excess profits” of insurers are to blame for high auto premiums in Ontario, but the government should consider restricting lawyers’ contingency fees, a special advisor to the provincial government suggested in a report released Tuesday. Auto insurance claims costs “continue to rise” in Ontario “while automobile accidents […]
By Canadian Underwriter | April 12, 2017
5 min read
The energy sector is still beset by some significant challenges, including low oil prices, but there may also be a “new normal” emerging in the global energy insurance market, according to global advisory, broking and solutions company Willis Towers Watson (WTW). On Wednesday, WTW launched its Energy Market Review for 2017. The review found that […]
2 min read
Ontario should not move to a government-run auto insurance system but the province should establish hospital-based examination centres with authority to establish treatment plans that would have to be provided by the insurers, without dispute, a special advisor to the provincial government suggested in a report released Tuesday. “Ontario is frequently criticized as having the […]
A quarter of those taking part in a new RBC Royal Bank poll seem to be taking a “wait-and-see” approach to buying a home within the next two years, but the dip from 2016 is buoyed by Millennials more willing than any other age group to take the plunge. In all, 39% of respondent Millennials […]
By Canadian Underwriter | April 11, 2017
Global reinsurer capital rose by 5% to US$595 billion at Dec. 31, 2016, according to the latest edition of the Aon Benfield Aggregate (ABA) report. The report, released on Tuesday, highlights trends in property and casualty reinsurance through the analysis of 23 major reinsurers domiciled in developed markets, Aon Benfield explained in a statement. On […]
Guelph, Ont.-based The Co-operators has released its inaugural 2016 Integrated Annual Report, reporting that more than four in ten claims and benefits paid in 2016 were for property damage. The Co-operators released the report on Tuesday, joining “a handful of pioneering Canadian companies that have adopted this emerging best practice of corporate reporting,” the company […]
By Canadian Underwriter | April 4, 2017
3 min read
While the mergers and acquisitions (M&A) market for insurance distribution and services “cooled slightly” in 2016 from the prior year, market conditions continue to support high levels of M&A activity going forward, according to a new study from Hartford, Conn.-based Conning, a global investment firm. “Consolidation of insurance distributors continued at a rapid pace through […]
By Canadian Underwriter | April 3, 2017
Warranties that new homes in Ontario are free from defects should be available from multiple providers and treated as insurance products, former judge J. Douglas Cunningham recommended in a recent report. Warranty coverage currently available from Tarion Warranty Corp. “should be an insurance product,” Cunningham wrote in his final report on a Review of the […]
The April 1 2017 renewal season “has largely followed” the direction set at January 1, the latest 1st View renewals report from Willis Re said. 2016 generated an “acceptable, though reduced” return for the global reinsurance industry, Willis Re, the reinsurance division of global advisory, broking and solutions company Willis Towers Watson, said in a […]
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