Industry
Worldwide IT spending is forecast to grow from US$2.46 trillion in 2015 to more than US$2.8 trillion in 2019, according to a spending guide released recently by International Data Corporation (IDC), a provider of market intelligence, advisory services and events for the IT, telecommunications and consumer technology markets. The Worldwide Semiannual IT Spending Guide: Vertical […]
By Canadian Underwriter | February 9, 2016
3 min read
PartnerRe Ltd.’s combined ratio improved 0.6 points in 2015, while net income dropped 90% in 2015 compared to 2014, the Pembroke, Bermuda-based insurance carrier reported Monday. PartnerRe, which has a Toronto office, writes reinsurance and commercial primary lines. Its principal offices outside Bermuda are in Dublin, Greenwich, Conn., Paris and Zurich. In its financial results […]
Commercial insurer CNA Financial Corp. released Monday its results for the full year and final quarter of 2015, reporting a 2% drop in net written premiums and a 2.3-point improvement in its combined ratio. Net written premiums were $6.421 billion in 2015 and $6.536 billion in 2014. All figures are in United States dollars. The […]
By Canadian Underwriter | February 8, 2016
2 min read
Dublin, Ireland-based XL Group plc has reported a P&C combined ratio of 92.3% for the fourth quarter of 2015 ending Dec. 31, up from 84.5% in the prior year quarter, and a full-year 2015 P&C combined ratio of 92%, compared to 88.2% in 2014. XL Group, through its subsidiaries and under the XL Catlin brand, […]
Zurich has released a mobile app – designed for qualified customers throughout North America in industries that deal with hazardous materials – meant to help them speed up response to spills requiring emergency environmental clean-up. The Zurich Environmental Emergency Response (ZEER) app is designed for industries, including transportation and manufacturing, where hazardous materials spills can […]
Northbrook, Ill.-based Allstate Corporation has reported a 2% increase in its property-liability combined ratio, from 90% for the three months ending Dec. 31, 2014 to 92% for the three months ending Dec. 31, 2015. For full-year 2015, the combined ratio was 94.9% at the end of last year, from 93.9% for full-year 2014. Fourth quarter […]
By Canadian Underwriter | February 5, 2016
Gartner Inc., an information technology research and advisory company based in Stamford, Conn., predicts that the number of wearable electronic devices sold worldwide will increase 18.4% in 2016 from last year. Gartner forecasts that 274.6 million wearable devices will be sold worldwide in 2016, an increase of 18.4% from 232 million units in 2015. Sales […]
Steve Dobronyi, current CEO of Echelon Financial Holdings Inc., is scheduled to step down at the company’s upcoming Annual General Meeting, at which time Serge Lavoie will be appointed to the role. Dobronyi (pictured left) has agreed to remain with the Echelon Financial Holdings until the AGM on May 5, notes a company statement issued […]
By Canadian Underwriter | February 4, 2016
Stephan Bernatchez has acquired Montreal-based Fort Insurance Group Inc., a strategic move expected to provide growth possibilities in the Quebec, Ontario and Alberta markets. “The strategic and geographic positioning of Fort Financial Group will give us the possibility to grow in the whole province of Quebec,” Bernatchez, chairman of Insurance Brokers Association of Canada, whose […]
The Hartford Steam Boiler Inspection and Insurance Company (HSB) has announced the availability of a stand-alone insurance product that seeks to fill the coverage gap for mid-size companies by offering them direct coverage for multiple types of data and cyber exposures. Building on a decade of the company’s experience covering identity theft, data breaches and […]
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