Industry
Private U.S. property and casualty insurers’ net income after taxes grew last year to $63.8 billion, from $35.1 billion in 2012, the Insurance Information Institute said Monday. Insurers’ overall profitability (measured by their rate of return on average policyholders’ surplus) also increased to 10.3% from 6.1%, the highest level since the 12.4% for 2007, according […]
By Canadian Underwriter | April 21, 2014
2 min read
Mutual insurers looking to remain competitive in the wake of enormous pricing pressure must differentiate themselves, David Thomas, CEO of market services and solutions for Willis, recommends in a new video blog. “In this environment, (mutuals) must emphasize how they differ from the competition in terms of understanding the dynamics of a homogeneous book of […]
By Canadian Underwriter | April 17, 2014
1 min read
“Actuary” has been listed among the top five best jobs in a ranked list from U.S. job search website CareerCast, although other insurance industry positions weren’t as close to the top of the list. Of 200 careers, actuary listed as No. 4, with a listed average income of $93,680. Mathematician ranked as the top career, […]
By Canadian Underwriter | April 16, 2014
Approved rates for private passenger auto insurance declined on average by 5.01% during the first quarter of the year, the Financial Services Commission of Ontario has reported. That figure is for the 14 insurers’ rate filings that were approved during the first three months of the year. Those insurers account for 20.22% of the market, […]
Lloyd’s of London has published a new strategy outlining its plans for 2014 to 2016 as part of its overall vision for 2025, which was originally set out two years ago. “We all know that Lloyd’s has an extraordinary opportunity to grow in developing economies around the world: we developed Lloyd’s Vision 2025 in part […]
By Canadian Underwriter | April 15, 2014
More than $100 million dollars worth of cargo losses have not been recovered under traditional cargo insurance policies in recent years as a result of critical exposures being excluded, Willis Group Holdings plc reported Monday. There is a significant gap in coverage for cargo risks around the world – highlighted by heightened levels of political […]
OTTAWA – The federal tax agency says the social insurance numbers of roughly 900 people were stolen from its systems, which were left vulnerable by the so-called Heartbleed bug. The Canada Revenue Agency blocked public access to its online services for several days last week until it addressed the security risk, but said Monday there […]
By The Canadian Press | April 14, 2014
Cybercriminals are plotting for several months to pull off major breaches for larger rewards, rather than “executing quick hits,” IT security firm Symantec Corp. says, based on its most recent Internet Security Threat Report. “One mega breach can be worth 50 smaller attacks,” Kevin Haley, director of Symantec Security Response said in a press release. […]
By Canadian Underwriter | April 11, 2014
Understanding consumer wants and needs – sometimes driven by technology – is critically important for the insurance industry in future, Sharon Ludlow, president and CEO of Swiss Re in Canada, suggested during the CIP Society Symposium in downtown Toronto Thursday. “We can’t quite staff all of our organizations with everyone under the age of 14,” […]
The consolidation of the property and casualty market in Canada is a trend that will impact the insurance industry in future and that future will likely include, among others, a small number of very large players, notes Denis Dubois, chief integration officer and general manager for Ontario, Atlantic and Western Regions at Desjardins General Insurance Group. […]
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.
