Reinsurance News
Canada
AXA XL Canada names new Head of Client & Distribution and CUO Large Commercial
8th July 2024
AXA XL has announced two new underwriting and distribution leadership roles in Canada, James Lee as Head of Client & Distribution and Alex Barker as Chief Underwriting Officer Large Commercial. Lee, who has also been appointed Chief Agent for AXA XL Canada, will be focused on cultivating strong partnerships with clients ... Read the full article
CAD $19tn in Canadian insured assets exposed to natural perils: CatIQ
21st June 2024
CatIQ, a subsidiary of Zurich-based PERILS AG, has released its Canadian Insurance Industry Exposure Database (IED) for 2024, revealing that CAD 19 trillion worth of insured property assets are exposed to natural perils. This represents an 11.3% increase from the previous year, consistent with trends observed by PERILS AG across European ... Read the full article
Global trends & promising outlook for MGA & MGU revenues in 2023: Insuramore
14th June 2024
Managing General Agents (MGAs), Managing General Underwriters (MGUs), and cover-holder groups have amassed approximately USD 23.9 billion in revenues worldwide in 2023, according to a recent report by industry analysis firm Insuramore. The bulk of this revenue, ranging between 70% and 75%, stemmed from direct commercial P&C insurance, while the remaining ... Read the full article
Davies enhances risk services in North America as Afirm brand retires
14th June 2024
Davies, a provider of professional services and technology for insurance and regulated markets, has announced two senior leadership appointments and the rebranding of Afirm, known for its premium audit, loss control inspection, and risk mitigation services. Afirm will now operate under the Davies name as part of its expansion in the ... Read the full article
Trisura Group reveals new senior management team
14th June 2024
Trisura Group Ltd, a specialty insurance provider operating in surety, risk solutions, and corporate insurance, announces several senior management appointments across the organisation. Richard Grant, who has been with Trisura Canada since its inception, has been appointed Chief Underwriting Officer. Initially leading the Corporate Insurance practice and most recently serving as ... Read the full article
CFC enhances fintech insurance coverage
12th June 2024
CFC, an insurance provider known for emerging risks in the cyber insurance market, has announced a significant update to its fintech insurance coverage. This revamped offering, available in the UK, Canada, and Australia, provides a streamlined, comprehensive solution that addresses both professional service and technology risks faced by today's fintech sector. “It’s ... Read the full article
AmTrust welcomes legal specialists to Canadian team
10th June 2024
Headquartered in New York, AmTrust Financial Services, Inc., an insurance holding company, warmly welcomes seasoned legal expense specialists Kevin Le Messurier-Girling and Victoria Girling to its international team, enhancing its presence in Canada and bolstering efforts to advance within the legal expenses sector. “We are excited to welcome Kevin and Victoria ... Read the full article
Tremblay to lead WTW’s ICT Canada P&C practice
10th June 2024
WTW, a global advisory, broking, and solutions company, has named Jean-Francois Tremblay as the head of the Property & Casualty (P&C) practice within Canada for the Insurance Consulting and Technology (ICT) division. Tremblay has extensive experience in various technical, operational, and strategic capacities, including pricing, product management, underwriting, and risk ... Read the full article
NexPhase’s investment in Insurance Systems Inc. to support growth and expansion
7th June 2024
Private equity firm NexPhase has invested in Insurance Systems Inc. (ISI), a Canada-based provider of enterprise software solutions to the P&C insurance industry, to support the company’s continued growth in its existing markets. The investment, which terms were not disclosed, will also help position ISI for expansion into adjacent markets and ... Read the full article
ICEYE launches advanced flood data products for Canadian insurers
3rd May 2024
ICEYE, a provider of satellite-powered disaster management solutions, has launched its Flood Insights and Flood Early Warning products for Canada, providing insurers with rapid access to real-time flood data across the country. Given that floods cause the most damage of any peril in Canada and are expected to escalate in frequency ... Read the full article
Ludwig Nagata to lead AXIS’ expansion into Environmental Impairment Liability
12th April 2024
AXIS Capital, a global specialty underwriter and provider of insurance and reinsurance solutions, is expanding its suite of specialty insurance solutions in North America by launching a Canadian Environmental Impairment Liability (EIL) insurance unit, set to be led by Ludwig Nagata. Nagata, has joined AXIS as Assistant Vice President, Environmental, Canada. In ... Read the full article
Sapiens to expand presence in Canada to accelerate growth for insurers
6th March 2024
Sapiens International Corporation, has announced its strategic expansion in the Canadian market, bolstering its workforce and expertise to foster continued growth and innovation for regional customers. Sapiens has been successfully serving leading Canadian insurers for more than 15 years, providing SaaS solutions and services across life, property and casualty, and workers' ... Read the full article
Probitas appoints Robbin Botnick to initiate Canada launch
31st January 2024
Probitas has appointed Robbin Botnick to initiate the process of setting up a Service Company based in Toronto, Canada. According to Probitas, Botnick has a "long history and knowledge of Lloyd’s business" with extensive experience both on the broker and MGA sides. Botnick commented, “I am very excited to continue my insurance ... Read the full article
Canada’s Behchokǫ̀-Yellowknife and Hay River wildfires cause over $60m in insured damage: CatIQ
21st November 2023
This summer's wildfires in the Northwest Territories of Canada, particularly near Yellowknife and Hay River, have left a profound impact, resulting in over $60 million in insured losses, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The wildfire in Behchokǫ̀-Yellowknife marked one of the largest evacuation efforts in ... Read the full article
CFC unveils new management liability solution for Canadian SMEs
15th November 2023
CFC, a specialist insurance provider, has launched a new management liability solution designed specifically for Canadian small to mid sized businesses. According to the firm, its new solution includes a variety of new coverages, many of which are non-standard within the Canadian market. Brand new coverages provided under CFC’s solution includes executive ... Read the full article
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