Reinsurance News
Canada
SCOR names Paul Christoff CEO of Canadian reinsurance arm
21st February 2020
French reinsurer SCOR has announced that Paul Christoff will be proposed as President and Chief Executive Officer (CEO) of SCOR Canada Reinsurance Company. He will succeed Joseph El-Sayegh, who joined SCOR in 2000 but has now decided to leave the firm to pursue other career opportunities. Following the appointment, Christoff will also ... Read the full article
Assurant appoints Paul Cosgrove as President for Canada
3rd January 2020
US specialty insurance group Assurant has announced the appointment of Paul Cosgrove as President of its Canadian operations, effective immediately. Cosgrove, who formerly served as Vice President, Business Development and Client Management, will succeed Robert Zanussi, who is retiring from the role after 16 years with Assurant. Zanussi is set to continue ... Read the full article
Gallagher appoints Dave Partington as CEO of Canada operations
6th December 2019
Re/insurance broker Gallagher has announced the appointment of Dave Partington as Chief Executive Officer (CEO) of its Canadian retail property and casualty (P&C) brokerage operations. In this capacity, he will lead the strategy and culture for continued growth in the country. Partington joined Gallagher in 2012, initially leading the regional offices of ... Read the full article
Canada’s insurers facing “drastic” reinsurance proposals: GFIA
9th July 2019
Proposals by Canada’s Office of the Superintendent of Financial Institutions (OSFI) to restrict the use of foreign reinsurers are “drastic” and would create a CA$21 billion - CA$30 billion capital gap, according to the Global Federation of Insurance Associations (GFIA). A gap of that size would force insurers to more than ... Read the full article
Beazley adds Derek Dow to healthcare liability team in Canada
28th June 2019
Specialist re/insurer Beazley has announced the appointment of Derek Dow as an underwriter in its Vancouver, Canada office. Dow will be tasked with supporting the growth of Beazley’s healthcare liability book, underwriting large risk life sciences and miscellaneous medical malpractice. He arrives from HUB International where he spent the previous six years, ... Read the full article
Swiss Re Corporate Solutions adds Zurich VP Johnston to Canada division
30th May 2019
Swiss Re Corporate Solutions, the commercial insurance arm of reinsurance giant Swiss Re Group, has announced the appointment of Tyler Johnston as Head of Financial & Professional Services and Casualty Canada, effective June 24. Based in Toronto, Johnston will be responsible for growth, strategy and underwriting of the Financial & Professional ... Read the full article
CatIQ updates Canadian exposure database in partnership with PERILS
13th May 2019
Catastrophe Indices & Quantification Inc. (CatIQ) has released the annual update of its Canadian insurance Industry Exposure Database (IED), developed with the support of the Canadian P&C industry and in partnership with Zurich-based PERILS AG. Launched in June 2018, CatIQ’s IED is based on exposure submissions from a majority of the ... Read the full article
Volante appoints senior underwriters to lead new Canadian MGA
26th March 2019
Volante Global Limited, a multi-class international managing general agent (MGA) platform, has appointed three senior underwriters to lead its soon-to-be-launched MGA, Volante Canada Limited. Richard Newman, Robert Tsai and Steve Vandriel will head the new operation, which will provide property, casualty and automobile products in all provinces and territories in Canada. The ... Read the full article
Validus eyes expansion into Canadian reinsurance market
13th March 2019
Validus Reinsurance Ltd., the Bermuda-based reinsurer whose parent company was acquired by AIG for $5.56 billion last year, intends to open a new branch in Canada, according to notices given in the Canada Gazette. The company plans to file an application with a federal regulator, the Office of the Superintendent of ... Read the full article
Insured weather losses across Canada reach $1.9bn in 2018: Cat IQ
21st January 2019
Severe weather across Canada resulted in approximately $1.9 billion of re/insured losses in 2018, according to data from Catastrophe Indices and Quantification Inc. (Cat IQ). The Insurance Bureau of Canada (IBC) noted that 2018 had the fourth-highest amount of losses on record, with ice storms, floods, windstorms and tornadoes damaging homes, ... Read the full article
CoreLogic launches flood and hail services for Canada
9th November 2018
Global catastrophe risk modeller CoreLogic has announced the availability of its Canada Flood Risk Score and its Weather Verification Services for hail in Canada, enabling underwriters to provide full coverage for clients while underwriting smart policies for their book of business. CoreLogic's Flood Risk Score is a rating system that is ... Read the full article
Munich Re appoints Rissa Revin as CEO of DAS Legal Protection MGA
23rd August 2018
Philipp Wassenberg, President and Chief Executive Officer (CEO) of Munich Re Canada and Temple Insurance Company, has announced the appointment of Rissa Revin as CEO of its MGA subsidiary, DAS Legal Protection Inc., effective September 1, 2018. Revin’s appointment follows the recent amalgamation of DAS Canada and Temple, and she will ... Read the full article
CatIQ partners with PERILS to launch Canada’s first insurance IED
27th June 2018
Catastrophe Indices & Quantification Inc. (CatIQ) has announced the launch of Canada's first ever insurance Industry Exposure Database (IED), which was developed in partnership with PERILS AG and the support of the Canadian property and casualty (P&C) sector. CatIQ explains that the new IED includes 2016 and 2017 year-end estimates of ... Read the full article
Insured losses from Canada’s April ice storms reach $190mn, reports CatIQ
14th May 2018
The ice storms which ravaged Canada’s eastern provinces of Ontario and Quebec in mid-April will cost re/insurers around CAD $190 million (USD $149 million), according to Catastrophe Indices and Quantification (CatIQ), a loss index and estimates provider. Strong winds, flooding, heavy snow, and ice build-up affected the provinces’ southern regions over ... Read the full article
April storms cause $85mn insured loss across Ontario and Quebec
3rd May 2018
The Insurance Bureau of Canada (IBC) has reported that an early April storm, which tracked across the Eastern provinces of Ontario and Quebec, has resulted in over CAD $85 million (USD $66 million) in insured losses. This figure also brings the total insured losses from severe weather damage over the past ... Read the full article
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