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Fire, earthquake claims hit Hannover Re profit

By: Thomson Reuters

Published August 04, 2016 - 9:38am CST

(Reuters) — Big damage claims for wildfires, earthquakes and storms hit German reinsurer Hannover Re S.E. hard in the second quarter, contributing to a sharper-than-expected 15% fall in quarterly net profit and driving down its shares.

Managing general agency buys natural resources wholesaler

By: Joyce Famakinwa

Published August 03, 2016 - 2:47pm CST

Totten Insurance Group said Wednesday it has acquired the shares of Canadian Resources Insurance Solutions Inc.

CNA names chief underwriting officer in Canada

By: Joyce Famakinwa

Published August 02, 2016 - 5:01pm CST

CNA Financial Corp. said Tuesday that it has appointed David Price senior vice president and chief underwriting officer for CNA Canada.

Costs to set up now-halted pension plan top $50 million

By: Gloria Gonzalez

Published July 28, 2016 - 3:13pm CST

Officials spent up to CA$70 million ($53.5 million) preparing a pension plan for Ontario that will never be activated because a subsequent agreement will enhance Canada’s national pension program, according to a newly released estimate.

Canada to phase out crude-by-rail cars early as shipments drop

By: Thomson Reuters

Published July 26, 2016 - 9:52am CST

(Reuters) — Canada will take older tank cars out of crude-by-rail service much earlier than originally planned, its transport minister said on Monday, in the government's latest move to toughen rail safety after a deadly 2013 crash.

Marsh appoints U.S., Canada president, shuffles execs

By: Rob Lenihan

Published July 22, 2016 - 11:47am CST

The broker says that Martin South will head its U.S. and Canada business division and that it would realign some international units.

Berkshire specialty unit adds to Canada offerings

By: Joyce Famakinwa

Published July 20, 2016 - 2:41pm CST

Berkshire Hathaway Specialty Insurance Co. on Wednesday said it has launched new executive and professional lines products for financial institutions in Canada.

Catastrophes cause $30 billion in insured losses in 2016 first half

By: Rob Lenihan

Published July 20, 2016 - 2:21pm CST

The Kumamoto earthquake in Japan was the costliest catastrophe in the first six months of 2016, Aon Benfield says.

Allianz offers transactional liability coverage in North America

By: Joyce Famakinwa

Published July 20, 2016 - 1:29pm CST

Allianz Global Corporate & Specialty S.E. has launched a transactional liability unit in North America to cover risks posed by mergers and acquisitions.

Berkshire Hathaway recruits M&A insurance team

By: Rob Lenihan

Published July 19, 2016 - 2:50pm CST

Berkshire Hathaway Specialty Insurance said Tuesday that it has assembled a team to write transactional liability insurance in the United States and Canada.

Chinese man to serve U.S. prison term for military hacking

By: Thomson Reuters

Published July 14, 2016 - 10:37am CST

(Reuters) — A Chinese businessman who pleaded guilty in March to conspiring to hack into the computer networks of Boeing Co. and other major U.S. defense contractors was sentenced on Wednesday to nearly four years in prison, prosecutors said.

Wildfires, earthquakes to hit insurers' 2Q results

By: Rob Lenihan

Published July 13, 2016 - 5:10pm CST

XL Group P.L.C. and Aspen Insurance Holdings Ltd. said Wednesday that the May and June wildfires in Alberta were a major factor in second-quarter catastrophe losses, which they said have exceeded $300 million.

Cat losses expected to hit insurer results

By: Mark A. Hofmann

Published July 13, 2016 - 10:26am CST

Underwriters can expect to feel “some sting of losses” to their second quarter results, according to Keefe Bruyette & Woods.

Insurer braces for second quarter cat losses

By: Rob Lenihan

Published July 12, 2016 - 2:51pm CST

Pembroke, Bermuda-based Validus Holdings Ltd. has estimated $60 million in net catastrophe losses from second quarter events, including recent Canadian wildfires and Texas hailstorms.

Canada privacy law may be held to tougher E.U.-U.S. model

By: Thomson Reuters

Published July 12, 2016 - 2:02pm CST

(Reuters) — Canadian officials expressed concern in an internal memo the European Union may hold personal-data transfers to their country to the tougher standards of the bloc's new Privacy Shield pact with the United States.

Natural catastrophes cause $27 billion in insured losses in first half

By: Sarah Veysey

Published July 12, 2016 - 8:52am CST

Overall, losses from natural catastrophes in the first half of 2016 totaled $70 billion, according to statistics from Munich Re.

Manitoba adds its support to expansion of Canada Pension Plan

By: Rick Baert, Pensions & Investments

Published July 11, 2016 - 10:02am CST

Manitoba on Thursday agreed in principle to the expansion of the CA$278.9 billion ($214.4 billion) Canada Pension Plan, Ottawa.

Reinsurance deal adds competition to broker market

By: Rob Lenihan

Published July 07, 2016 - 4:17pm CST

The deal between General Reinsurance Corp. and Transatlantic Reinsurance Co. announced earlier this week will quickly give both reinsurers access to capabilities they need to grow, analysts say.

Canada wildfire tab nears $3 billion

By: Mark A. Hofmann

Published July 07, 2016 - 11:58am CST

The May wildfires were the costliest event in terms of insured damage in Canadian history, the Insurance Bureau of Canada says.

Firm fined after worker pinned by truck at loading dock dies

By: Gloria Gonzalez

Published July 07, 2016 - 10:41am CST

A decorating company has been fined $77,440 for the death of a temporary worker struck as a truck was reversing.

Infidelity website Ashley Madison facing FTC probe, CEO apologizes

By: Thomson Reuters

Published July 05, 2016 - 10:51am CST

A cyber breach last year exposed the personal details of millions who signed up for the infidelity site.

Reinsurance renewal rates remain in doldrums

By: Mark A. Hofmann

Published July 01, 2016 - 10:09am CST

Softening continued during the June/July reinsurance renewal season, according to a report issued Friday by Willis Towers Watson P.L.C.'s Willis Re unit.

National pension enhancements derail Ontario plans

By: Gloria Gonzalez

Published June 21, 2016 - 1:55pm CST

Just this month, province had adopted defined benefit plan that would have covered employees that didn't have a plan through work.

Allianz names regional head of aviation

By: Joyce Famakinwa

Published June 21, 2016 - 12:26pm CST

Allianz Global Corporate & Specialty S.E. on Tuesday said it has named Toronto-based Michael Hansen regional head of aviation for North America.

Florida nightclub shooting

Published June 17, 2016 - 12:01am CST

The mass shooting in Orlando, Florida, and the security issues arising from it are among the Business Insurance week in pictures.

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