Industry
The Guarantee Company of North America has announced it will subsidize the cost of the recently-launched Insurance Companion mobile application for its contracted Personal Lines brokers in Ontario. The app, created by Independent Broker Resources Inc., allows brokers to have their own branded mobile app available to clients for reporting a claim from their phone […]
By Canadian Underwriter | November 2, 2012
1 min read
American International Group Inc., which offers property and casualty insurance under the Chartis brand, has reported a profitable third-quarter, while Q3 property casualty operating income is up year-over- year due to lower catastrophe losses. New York City-based AIG released financial results Nov. 1 for the period ending Sept. 30, noting its head office remains without […]
2 min read
Willis Capital Markets & Advisory (WCMA) has acted as sole bookrunner on a catastrophe bond transaction to provide Munich Re with $75 million of multi-year, fully collateralized protection against United States hurricane and European wind exposures. The “Queen Street VII Re” cat bond transaction – which closed on Oct. 31 and expires in April 2016 […]
The use of predictive analytics is advancing into areas beyond the traditional rating and underwriting fronts. Organizations that opt not to venture into these new arenas - including customer service, sales and marketing - risk losing competitive positioning to other insurers.
By Roger Burkhardt, President and CEO, EagleEye Analytics | November 1, 2012
6 min read
PartnerRe Ltd. announced Oct. 31 its financial results for the period ending Sept. 30, recording a 3% year-over-year decrease in net premiums written for the third quarter, and a 170% increase in net income. The Pembroke, Bermuda based firm, whose reinsurance services include property, casualty, motor, agriculture, aviation, catastrophe and marine, has a Canadian operation […]
By Canadian Underwriter | November 1, 2012
Allstate Corp. has reported a net income of $723 million for the third quarter of the year, compared to $175 million for the same period in 2011, and remains “well-capitalized” to take on losses from post-tropical storm Sandy in the United States, its CEO has said. “Our strategy of serving four distinct customer segments is […]
CAA Insurance Company (Ontario) has introduced two new products, including a new product covering some types of damage to home equipment. The company has launched Home Equipment Breakdown coverage, which covers “appliances and electronics against mechanical, electrical or pressure-system breakdowns,” it said. “The new coverage includes all your home’s belongings from your computer to your […]
Use of microinsurance among low-income households in Africa has grown more than 200% in the last three years and now benefits upwards of 44 million people, notes a new study published by Making Finance Work for Africa (MFW4A) and the Munich Re Foundation. The vast majority of Africans with insurance are covered by life insurance, […]
Driving behaviour has reportedly improved for 52% of the young drivers in Quebec who are currently taking part in a new auto insurance policy, even if those drivers only recently got insurance through Mobiliz. The Mobiliz auto insurance policy, launched this past April by Industrial Alliance, Insurance and Financial Services Inc., encourages young people to […]
A decline in output from insurance carriers contributed to the overall drop in gross domestic product in August, Statistics Canada revealed Oct. 31. “After increasing for four consecutive months, the finance and insurance sector fell 0.3% in August, led by decreased output of security brokerages (from reduced volume of trading on the stock exchanges) and […]
By Canadian Underwriter | October 31, 2012
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