Risk
Axis Capital Holdings Ltd. released Wednesday its financial results for the period ending Sept. 30, reporting a 2% overall increase in Q3 net premiums earned while underwriting income was up 46%. Pembroke, Bermuda-based Axis Capital reported net premiums earned of $934.4 million in the latest quarter, compared to $919.3 million in Q3 2015. All figures […]
By Canadian Underwriter | October 27, 2016
2 min read
American International Group, Inc. (AIG) announced on Wednesday that it has raised its property terrorism insurance limits globally to $1 billion. The larger capacity is available to clients on a standalone basis or as expanded limits within AIG’s Large Limits property insurance offering, which provides clients with all-risk coverage limits up to $2.5 billion per […]
By Canadian Underwriter | October 26, 2016
The marketplace for property, casualty and other lines of commercial insurance will continue to favour insurance buyers in 2017, particularly those with comprehensive strategic risk management and risk transfer strategies, global advisory, broking and solutions company Willis Towers Watson (WTW) said on Wednesday. In its Marketplace Realities 2017 report, which serves as a guide to […]
3 min read
Chubb Limited has reported a property and casualty combined ratio of 86% for the third quarter of 2016 ending Sept. 30, virtually unchanged from 85.9% in the prior-year quarter. For Global P&C (excluding agriculture), the combined ratio was 85.7% for Q3 2016, compared to 85% in Q3 2015. The combined ratio for North America Commercial […]
Marsh & McLennan Companies Inc. announced Tuesday its risk and insurance revenue rose 3%, year over year, for the third quarter. New York City-based Marsh & McLennan owns brokerage Marsh Inc. and Guy Carpenter & Company LLC, among other subsidiaries. Risk and insurance revenue was $1.632 billion in the three months ending Sept. 30, compared […]
The Insurance Corporation of British Columbia (ICBC) has launched a pedestrian safety campaign with the provincial government and police to urge pedestrians and drivers to stay safe as “crashes involving pedestrians spike at this time of year.” On average, 59 pedestrians are killed and 2,300 injured in crashes every year in B.C., with almost half […]
By Canadian Underwriter | October 18, 2016
Manitoba Public Insurance (MPI) has reported a net loss of $30.9 million for the six months of its fiscal year ending Aug. 31 – a decrease of $47.4 million over the same time period last year. This includes net loss to the Basic insurance line of business of $52.7 million in the first six months […]
By Canadian Underwriter | October 14, 2016
Lloyd’s coverholder GCube Insurance Services Inc. announced Wednesday it now provides coverage for more than 4 Gigawatts of Canadian wind energy assets. The company stated in a press release it is “confident” that it will “continue to see further growth in the sector.” “Experienced risk and insurance managers understand the importance of supporting their colleagues […]
By Canadian Underwriter | October 12, 2016
1 min read
Private property and casualty insurers in the United States reported a US$1.5 billion net underwriting loss in the first half of 2016 – the first year-to-date net underwriting loss in more than three years, according to ISO, a Verisk Analytics business and the Property Casualty Insurers Association of America (PCI). Private P&C insurers also saw […]
By Canadian Underwriter | October 5, 2016
DETROIT – United States safety regulators have closed a yearlong investigation into the Jeep Grand Cherokee’s automatic braking system without seeking a recall. The U.S. National Highway Traffic Safety Administration began the probe in June of last year after getting complaints that the system braked for no reason, increasing the risk of rear-end crashes. But […]
By Canadian Underwriter | September 30, 2016
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