Industry
Worldwide shipments of wearable devices are expected to reach 110 million by the end of 2016, with 38.2% growth over the previous year, according to information from International Data Corporation (IDC). An expanding lineup of vendors, combined with fast-growing consumer awareness and demand, will generate double-digit growth throughout the 2015-2020 forecast period, said the global […]
By Canadian Underwriter | March 21, 2016
2 min read
Almost all IT professionals taking part in a recent global survey agreed customer data privacy concerns are a critical issue at the C-level, but fewer than one in 10 of respondents believe that current privacy and consent methods are adequate. Conducted by independent research organization TechValidate on behalf of ForgeRock, an open platform provider of […]
3 min read
PartnerRe Ltd., a Bermuda reinsurer and commercial primary insurance carrier with a Toronto branch office, announced Friday its acquisition by EXOR S.p.A. has been completed and former chief executive officer Patrick A. Thiele will now sit on its board of directors. The transaction – valued earlier at US$6.9 billion – was approved in November, 2015 […]
By Canadian Underwriter | March 18, 2016
5 min read
LOS ANGELES — Google Inc. wants the United States Congress to create new powers for the American government that would let Google receive special, expedited permission to bring to market a self-driving car that has no steering wheel or pedals. The proposal, laid out in a letter to top federal transportation officials, reveals Google’s solution […]
The aggregate value of global insurance transactions in the property-casualty, life and health sectors last year was four times higher than in 2014, reaching US$195 billion, notes a study released this week by Conning, Inc. “M&A activity in 2015 was driven by continued low interest rates, high levels of industry capital and low-growth economies in […]
The combined ratio for a group of insurance firms tracked by Fitch Ratings Inc. deteriorated 1.1 points from 93.4% in 2014 to 94.5% in 2015, Fitch reported Tuesday. “Fitch’s universe of 45 (re)insurance organization reported an aggregate a 7.2% decline in operating earnings to $47.3 billion in 2015,” New York City-based Fitch Ratings stated in […]
By Canadian Underwriter | March 16, 2016
TORONTO — A man who allegedly said Allah instructed him to kill was charged Tuesday with stabbing and wounding two uniformed military members at a north Toronto recruiting centre a day earlier. While investigators were probing possible terror links, the city’s police chief said there didn’t appear to any connection to terrorist groups, although it […]
By Canadian Underwriter | March 15, 2016
The change in commercial insurance prices from the fourth quarter of 2014 to the fourth quarter of 2015 were “nearly flat,” Willis Towers Watson plc reported Monday. London-based Willis Towers Watson released its Commercial Lines Insurance Pricing Survey (CLIPS), which is based on information provided by participating companies. CLIPS was a product of Towers Watson […]
By Canadian Underwriter | March 14, 2016
Canadian National Insurance Crime Services (CANATICS) and Insurance Bureau of Canada (IBC) are joining forces in the war on organized insurance crime, hoping to advance efforts with a mix of timely early warnings and investigation expertise. The strategic move to collaborate is expected to improve the property and casualty industry’s ability to identify and investigate […]
Aviva plc announced on Thursday that its combined ratio for Canada has improved to 93.8% in 2015, from 96.1% in 2014. Aviva released its preliminary results announcement on Thursday, noting a combined operating ratio in its general insurance business of 94.6% in 2015, a 1.1 percentage point improvement from 95.7% for the full year of […]
By Canadian Underwriter | March 10, 2016
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