Risk
Reinsurance has long been an effective means of diversifying risk for property and casualty (P&C) insurance companies in Canada, particularly the risk of large-claim events. Nevertheless, reinsurance risk does exist and it can have important implications in determining the ultimate cost of an insolvency for member insurers. REINSURANCE IN CANADA The Canadian P&C industry is […]
By Darrell Leadbetter, Paul Kovacs (Executive Director), Jim Harries | June 30, 2007
6 min read
The Insurance Institute has a number of resources available to help recruit fresh new talent into the Canadian P&C industry
By Margaret Parent | June 30, 2007
7 min read
Industry
Last month, Canadian Underwriter associate editor Vanessa Mariga wrote our cover story, which was supposed to be a basic overview of the state of technology in the Canadian insurance industry. However, what she discovered is that the attitudes about, politics around and objectives for technology in Canada’s insurance industry are anything but “basic.” Vanessa’s piece […]
By David Gambrill, Editor | June 30, 2007
3 min read
A.M. Best Co. has affirmed the financial strength ratings (FSR) of 43 Canadian property/casualty companies, upgraded five FSRs, assigned three FSRs and downgraded one FSR. “These ratings are based solely upon public information and present the most informed view A.M. Best can offer, short of an insurer participating in the full interactive rating process,” A.M. […]
June 30, 2007
2 min read
The Canadian property and casualty industry posted excellent results in 2006, sporting a 91.7% combined ratio and a 17% return on equity (ROE), but it should be mindful of the lessons learned from soft markets in the past since 2007-08 results are expected to deteriorate, A.M. Best warned in a recent report. The A.M. Best […]
French insurer April Group has announced its new presence in Canada with the acquisition of two Quebec brokerages, Escapade Assurances Voyages and Dave Rochon Assurances. Escapade, situated in Sainte Croix, was created in 2003 and specializes in travel insurance for short and long voyages and for specific destinations. It is distributed essentially by telephone and […]
1 min read
The Insurance Brokers Association of Canada (IBAC) went to Parliament Hill on June 12 to emphasize the importance of more than 30,000 independent brokers across the country. Members of Parliament and senators met with 50 insurance brokers across the country, as brokers sought to build an awareness of the role they play in small communities […]
Home
The U.S. property and casualty insurance industry recorded a declining return on equity (ROE) in 2007 Q1, despite good underwriting results, according to information released by ISO and the Property Casualty Insurers Association of America (PCI). During 2007 Q1, the U.S. property and casualty industry reported an ROE of 12.9%, down from 15.5% reported during […]
By Canadian Underwriter | June 29, 2007
AXA is making available a comprehensive portfolio of customized art insurance products and related services to meet the growing demands of individual art collectors, museums, galleries, corporations, galleries, trusts, travelling exhibitions and artists in the Canadian marketplace. AXA will be offering in Canada customized policies to insure objects in every active area of serious collecting, […]
Claims
Swiss Re has created what it says are the first catastrophe bond indices on the market, A.M. Best has reported, giving the market better information on returns related to risk.Richard Pennay, in the structuring department at Swiss Re Capital Markets, told A.M. Best that Swiss Re had introduced the indices to provide more transparency in […]
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