Industry
Traditional reinsurers must remain relevant and be mindful of areas into which they are looking to diversify in the face of increased competition from the influx of capital markets capacity, Willis Re president Paddy Jago cautions in a video blog on WillisWire. Those traditional property catastrophe reinsurers that are responding to increased competition from the […]
By Canadian Underwriter | March 5, 2014
2 min read
Commercial property insurer FM Global reported a 32% increase in net income for 2013 over the previous year, totaling US$1.02 billion. The mutual insurance company also posted a combined ratio of 77.7%. Consolidated gross premium reached US$5.6 billion last year, a 2.6% increase over 2012. “2013 was a very successful year which can be attributed to […]
By Canadian Underwriter | March 4, 2014
1 min read
Insurance premiums for Ontario municipalities have climbed by $35 million since 2010, and members of provincial parliament from all three parties recently spoke in favour of a motion to reform the province’s law on joint and several liability. The Ontario Legislature called on the government Thursday to implement a “comprehensive, long-term solution to reform joint […]
3 min read
The Association for British Insurers (ABI) is calling on motor manufacturers in the United Kingdom to make autonomous emergency braking (AEB) standard on all new cars, suggesting the move could cut personal injury claims by almost a fifth. Currently, only 23% of new vehicles available in the U.K. have AEB fitted as standard or as […]
The Manitoba government has dedicated up to $7 million annually from ongoing funding for sprinklers in personal care homes and has created a task force for evaluating fire safety in health care facilities. A fire safety fund also will be established to provide another $2 million to support additional standards and safety reviews, and to […]
By Canadian Underwriter | March 3, 2014
The global market for stand-alone travel insurance and assistance continues to grow, expected to reach US$18.1 billion by 2017, but new and emerging markets are driving the expansion, note new figures from Finaccord. The global market for stand-alone travel insurance and assistance (excluding policies linked to credit cards and bank accounts) was worth approximately US$13.8 […]
Economical Insurance has announced plans for a new national processing centre in Kitchener, Ont. as part of its new operating model, under which it hopes to make underwriting operations more effiicent and consistent. The new centre, at the insurer’s Riverbend facility, will be launched this year, and will be where Economical will process a large […]
There have been great advances in the capability of home systems, everything from smart appliances to back-up generators and medical equipment. But no system is perfect. What is the best option to protect against any related breakdowns?
By Derrick Hughes, Vice President, Reinsurance Assumed, The Boiler Inspection and Insurance Company of Canada, part of Munich Re | February 28, 2014
4 min read
Share prices for publicly-traded insurance companies who acquire other firms outperform the industry average, according to a new analysis from Towers Watson and Cass Business School. The analysis looked at major acquisitions completed by stock market-listed insurance companies worldwide between January 2008 and December 2013. Among those, acquirers share prices typically outperformed the industry average […]
By Canadian Underwriter | February 28, 2014
Despite a lower number of merger and acquisition deals in the insurance industry last year, and several economic and regulatory challenges, industry observers are “cautiously optimistic about 2014,” notes a new report from Deloitte. In its 2014 Insurance M&A Outlook report, the firms suggests that this year could see momentum building around mergers and acquisitions. […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
