Industry
Reinsurance capital inched up 1% to US$580 billion for the first quarter of 2015 compared with the end of 2014, in part aided by continued light catastrophe activity, notes a new report from Aon Benfield. “There were positive and negative factors behind the overall increase through the quarter,” states Reinsurance Market Outlook June and July […]
By Canadian Underwriter | July 3, 2015
3 min read
Moody’s Investors Service has affirmed the A3 senior debt rating of ACE INA Holdings Inc. with a stable outlook following the announcement that ACE has agreed to acquire all outstanding shares of The Chubb Corporation for approximately US$28.3 billion. ACE INA’s debt is unconditionally guaranteed by the group’s parent company, ACE Limited, notes a statement […]
4 min read
Insurers and brokers in the United Kingdom are facing an explosion in external data sources and are challenged to act quickly, suggest new survey results released jointly by Verisk Insurance Solutions and Earnix. The survey of carriers and brokers in the U.K. – U.K. Modeling Data Acquisition and Usage Trends Survey – points to anticipated […]
By Canadian Underwriter | July 2, 2015
State Farm in the United States has joined forces with security company Canary to receive exclusive offers on the latter company’s products and may qualify for homeowner and renter insurance discounts. State Farm announced Wednesday that it “is expanding its footprint in the home monitoring space by joining forces with Canary, an all-in-one security solution.” […]
1 min read
Saskatchewan Government Insurance announced Thursday it is now offering commercial insurance in British Columbia. SGI operates Saskatchewan’s compulsory Auto Fund and already writes property & casualty insurance in Saskatchewan, Alberta and Manitoba under the trade name SGI Canada. In B.C., SGI Canada now “has commercial products designed to suit the insurance needs of B.C. small […]
LOS ANGELES – The United States Federal Railroad Administration has asked digital mapping companies to alert drivers as they approach track crossings in the hope that visual and audio cues will lead to greater awareness of potential dangers. So far, Google Inc. has agreed to update its maps with crossing locations, the Federal Railroad Administration […]
The State of New York has effectively banned high volume hydraulic fracturing as a method of extracting natural gas, citing environmental risks such as spills of hazardous materials such as petroleum distillates, glycols and aldehydes. The New York state department of environmental conservation published June 29 a findings statement for high-volume hydraulic fracturing (HVHF), which […]
2 min read
Mergers and acquisitions in the reinsurance sector are “throwing up unexpected combinations” while the market for offshore energy wind reinsurance, in the Gulf of Mexico, is softening, the reinsurance division of Willis Group Holdings plc suggested in a report released Wednesday. “Mergers and acquisitions activity continued in Q2 105 after an active Q1” Willis Re […]
The catastrophe bond market is continuing its trend toward larger transactions by fewer sponsors, witnessing US$4.1 billion in issuance activity for the first half of 2015 compared to US$5.7 billion for the same period in 2014, notes a new report issued Wednesday by Property Claims Services (PCS). PCS notes in its Q2 2015 catastrophe bond […]
5 min read
EXOR S.p.A announce Wednesday it has scheduled a meeting July 7 for shareholders of PartnerRe Ltd., which Turin, Italy-based EXOR has offered to acquire. The board of directors of PartnerRe – a Pembroke, Bermuda-based reinsurer and commercial primary insurer – agreed in January to a proposal to merge with Axis Capital Holdings Ltd., another Pembroke-based […]
By Canadian Underwriter | July 1, 2015
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