Industry
Saskatchewan Government Insurance (SGI) has implemented a Reduced No Fault coverage for motorcycle owners. The third option for coverage from SGI offers a basic package of injury benefits at a lower cost, since there are fewer benefits, SGI said in a press release on Tuesday. Motorcycle owners have the choice between Reduced No Fault coverage […]
By Canadian Underwriter | April 5, 2016
2 min read
Global reinsurer capital stood at US$565 billion at Dec. 31, 2015, a reduction of 2% relative to the end of 2014, according to the latest edition of the Aon Benfield Aggregate (ABA) report. Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, released the report, which analyzes the 2015 financial results of […]
By Canadian Underwriter | April 4, 2016
Volunteering with industry associations is "about the health of the industry," says Robyn Young, president of the Insurance Brokers Association of Alberta.
By Greg Meckbach, Associate Editor | April 1, 2016
6 min read
1 Ryan Michel [1] took on duties as president and chief executive officer of Allstate Insurance Company of Canada and its subsidiary companies January 11. Michel succeeds John O’Donnell, now senior vice president with Allstate Insurance Corporation in the United States. Michel has reporting responsibility for the Allstate Corporation’s entities in Canada, which include Allstate […]
April 1, 2016
5 min read
With the increased risk appetite for new or expanded products among mutual insurers, overland flood coverage is the number one product development priority, John Taylor, president and CEO of the Ontario Mutual Insurance Association (OMIA), said Thursday during its Annual General Meeting (AGM). “New risks, new competition as well as an increased risk appetite among […]
By Angela Stelmakowich | March 31, 2016
3 min read
The global insurance industry saw significant increases in both insurance distribution and insurance services mergers and acquisitions in 2015, according to a new report. Global Insurance Distribution & Services Sector Mergers & Acquisitions: Building for the Future was released on Tuesday by Conning Inc., an investment management company for the global insurance industry headquartered in […]
By Canadian Underwriter | March 29, 2016
Amherst, N.S.-headquartered Archway Insurance, one of Atlantic Canada’s largest independently-owned insurance brokerages, announced on Thursday the purchase of Solutions Insurance Broker Inc. in Dieppe, N.B. Archway will increase its footprint in New Brunswick through this transaction, along with the ability to serve its existing and future clients in both official languages, Archway Insurance said in […]
By Canadian Underwriter | March 26, 2016
1 min read
PERILS AG has disclosed its second loss estimate of 578 million pounds for the recent floods in the United Kingdom related to storms Eva and Frank. The most recent loss estimate, released on Thursday, is up from the initial estimate of the insured property market loss of 526 million pounds in February. Storms Eva and […]
By Canadian Underwriter | March 24, 2016
Six days after the completion of its US$6.9-billion takeover by EXOR S.p.A., PartnerRe Ltd. announced Thursday its new chief executive officer is Emmanuel Clarke, a 46-year-old French national who was president of PartnerRe, a Pembroke, Bermuda-based reinsurer and commercial insurance carrier. Clarke (pictured right) replaces David Zwiener, who was appointed interim CEO in January, 2015. […]
Consumers from the Millennial generation are more likely to buy insurance online using a tablet or mobile phone than their older counterparts, according to United Kingdom-focused research released on Tuesday by Finaccord, a market research, publishing and consulting company specializing in insurance and other financial services. Covering a range of different insurance products commonly acquired […]
By Canadian Underwriter | March 22, 2016
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