Industry
Total direct premiums written for the global insurance industry in 2014 were up 3.7% to US$4,778 billion after having stagnated the previous year, according to Swiss Re’s latest sigma study. Released on Wednesday, the study, World Insurance in 2014: back to life, said that the global insurance industry gained momentum in 2014, even though the […]
By Canadian Underwriter | June 24, 2015
3 min read
Jones Brown Inc.’s acquisition of Hamilton, Ontario-based Pearson Dunn Insurance Inc. for an undisclosed amount, designed to strengthen both businesses, will double business operations in southern Ontario. By joining forces with Pearson Dunn, established in 1895, Jones Brown, a private Canadian insurance consulting and brokerage business, reports the combined firm will gain a strategic foothold […]
2 min read
Most lines of property and casualty insurance in the United States will likely experience weaker pricing in 2015 than in 2014, Moody’s Investors Service notes in a new report released Tuesday. In its annual p&c insurance survey, US P&C Insurance Survey: Inflection Point for Commercial Liability; Property Turns Negative, the credit ratings company notes pricing […]
Canada is among the oil-dependent economies that are suffering from the effects of lower oil prices, prompting global credit insurer Coface to place the country on its negative watch list. “Canada’s A1 country assessment has been placed under negative watch, due to the impact of the decline in oil prices on investment, the risks weighing […]
By Canadian Underwriter | June 23, 2015
BMS Canada Risk Services (BMS Canada), the Canadian arm of the independent specialist insurance and reinsurance broker BMS Group Ltd., announced on Tuesday the launch of a specialist managing general agent (MGA), Lions Gate Underwriting. Lions Gate Underwriting is a Lloyd’s coverholder and underwrites on behalf of large A rated global insurers and its products […]
Insurers may be making progress on building links between risk appetite and business operations, but the second leg of a Towers Watson survey on enterprise risk management (ERM), released Monday, demonstrates there is a long way to go to tie risk performance metrics into effective reporting systems. Of those insurers taking part in Towers Watson’s […]
5 min read
The government of Saskatchewan announced on Monday that people who serve and sell alcohol in licensed establishments in the province will soon be required to complete server intervention training in a bid to help curb impaired driving. Serve it Right Saskatchewan (SIRS) is a course designed to help curb underage drinking, reduce overconsumption, impaired driving […]
By Canadian Underwriter | June 22, 2015
New Brunswick’s Office of the Premier said on Friday that recent changes to the Insurance Act will “enable the introduction of a more efficient licensing system for the insurance industry” and “provide stakeholders with a modernized and more flexible method of obtaining their licence to work in the insurance industry in New Brunswick.” Premier Brian […]
BAE Systems is bringing cloud-based cyber security to commercial organizations in Canada for the first time with the introduction of a suite of security products, initially focusing on email protection, designed to defend against targeted attacks. The new offerings come largely as a result of BAE Systems’ acquisition of SilverSky, notes a statement Monday from […]
Swiss Reinsurance Company Ltd. has taken an important step towards its business aspirations related to the company’s high-growth market strategy with the confirmation Monday that it is the first Swiss company to be granted a Renminbi Qualified Foreign Institutional Investor (RQFII) licence. Having the licence in place means Swiss Re “can proceed and apply for […]
1 min read
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