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Kaikoura earthquake claims reach NZ$900mn

Private insurers have received claims exceeding NZ$900mn ($654mn) from the Kaikoura earthquake that struck New Zealand in November.

Matthew Neill, 01 February 2017
Perils launches Canada loss aggregating service

Industry loss aggregator Perils has announced a partnership with Toronto-headquartered CatIQ to begin tracking insured losses from Canadian catastrophes.

Fiona Robertson, 01 February 2017
US broker M&A approaches record in 2016: Optis

M&A among insurance intermediaries in the US and Canada last year nearly matched the torrid pace set in 2015, when a record 456 deals were reported, according to an analysis from Optis Partners in Chicago.

Ted Bunker, 01 February 2017
Pension plan boost helps push Chubb to Q4 earnings beat

Chubb reported operating income of $1.28bn for a fourth quarter that saw the newly merged firm benefit from a restructuring of its pension plan.

Dan Ascher, 01 February 2017
RenRe smashes Q4 earnings forecasts

RenaissanceRe smashed fourth quarter earnings forecasts despite operating profit falling to $119.4mn from $135.0mn in the prior-year period.

David Bull, 01 February 2017
Berkley profit tops estimates as cat losses widen

Specialty insurer WR Berkley reported fourth quarter profit that beat most Wall Street estimates despite catastrophe losses more than tripling year-on-year to add 2.3 percentage points to the Connecticut-based carrier's combined ratio

Ted Bunker, 01 February 2017
Spinnaker and Encore launch Texas homeowners’ programme

Spinnaker Insurance Company has added a Texas homeowners’ programme in a move first flagged by The Insurance Insider last summer.

David Bull, 01 February 2017
S&P downgrades AIG as earnings profile weakens

Standard & Poor’s (S&P) has downgraded AIG as it cited the insurer's previously flagged “material” fourth quarter reserve charge and what the ratings agency described as a lower earnings profile going forward.

Dan Ascher, 01 February 2017
Burns & Wilcox Canada enters Quebec with XN deal

Burns & Wilcox Canada has bought the high-value homeowners' insurance practice of Quebec-based XN Financial Services for undisclosed terms.

David Bull, 01 February 2017
Connecticut may cut premium taxes to help insurers

Travelers, The Hartford and other insurers based in Connecticut would get a tax break worth an estimated $22mn to the industry each year under a proposal put forward by Governor Dan Malloy.

Ted Bunker, 01 February 2017

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