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Earnings / Ratings

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Fairfax reports 2016 combined ratio for insurance and reinsurance operations of 92.5%

February 17, 2017 by Canadian Underwriter

Toronto-based Fairfax Financial Holdings has released its most recent financial results for the fourth quarter and full-year 2016 ending Dec. 31, reporting a combined ratio for its insurance and reinsurance operations of 92.5% on a consolidated basis. This result produced

News Commercial LinesEarnings / RatingsInsuranceMarkets / CoveragesPersonal Lines

Echelon Financial Holdings Inc. sees lower net income for 2016 full-year, Q4 over prior-year periods

February 17, 2017 by Canadian Underwriter

It was a mixed bag for Echelon Financial Holdings Inc. (EFH) in the fourth quarter of 2016, with strong commercial lines results and lower personal lines results combining to contribute to a 70% drop in net income to about $2.6

News Earnings / RatingsInsurancePersonal Lines

Industrial Alliance net income reaches $155 million in Q4 2016 from $4.2 million in Q4 2015

February 16, 2017 by Canadian Underwriter

Industrial Alliance Insurance and Financial Services Inc. has reported a net income attributed to common shareholders of $155 million in the fourth quarter of 2016 ending Dec. 31, up dramatically from net income of $4.2 million in the same quarter

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal Lines

Co-operators General Insurance Company net income $128.8 million in 2016 Q4, up from $103.3 million in 2015 Q4

February 16, 2017 by Canadian Underwriter

The consolidated net income for Co-operators General Insurance Company increased for the fourth quarter of 2016 over the same quarter in 2015, but net income for 2016 decreased from 2015. The Co-operators has posted net income of $128.8 million for

News CatastrophesClimate ChangeCommercial LinesEarnings / RatingsInsurancePersonal Lines

AIG sees net loss of about US$3 billion in 2016 Q4

February 15, 2017 by Canadian Underwriter

American International Group, Inc. (AIG) has posted net losses for both the full year and the fourth quarter of 2016, but company president and CEO Peter Hancock reports that actions taken last year will help “dramatically reduce uncertainty and deliver

News Earnings / RatingsInsuranceReinsurance

Loss ratio up 1.4 points for Arch Capital

February 14, 2017 by Canadian Underwriter

Arch Capital Group Ltd. reported Monday a combined ratio of 99.4% in insurance during the last three months of 2016 due in part to Hurricane Matthew, while net favorable development, due in part to better than expected claims emergence in

News Commercial LinesEarnings / RatingsInsuranceReinsurance

Combined ratio up three points for Markel

February 10, 2017 by Canadian Underwriter

Markel Corp. reported this week a 7.8% increase in net premiums written while the combined ratio deteriorated by three points in 2016 as the Richmond, Va.-based insurer experienced a $46.6-million underwriting loss related to Hurricane Matthew. Markel released Wednesday its

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

Zurich reports business operating profit of US$4.5 billion for 2016, up 55% from prior-year period

February 10, 2017 by Canadian Underwriter

Zurich Insurance Group has reported a business operating profit (BOP) for the full-year ending Dec. 31, 2016 of US$4.5 billion, up 55% from the prior-year period. The fourth quarter BOP for the three months ending Dec. 31, 2016 was up

News Commercial LinesEarnings / RatingsInsurance

Aon reports net income of US$502 million for fourth quarter of 2016

February 10, 2017 by Canadian Underwriter

Commercial brokerage Aon plc has reported a net income attributable to Aon shareholders of US$502 million in the fourth quarter of 2016 ending Dec. 31 compared to US$584 million for the prior-year quarter. For the full year of 2016, net

News CatastrophesEarnings / RatingsInsurance

Personal lines cat ratio up 9.3 points at Intact due in part to Fort McMurray

February 8, 2017 by Canadian Underwriter

Intact Financial Corp. released Wednesday its financial results for 2016, reporting a 5% increase in direct premiums written and a 40% drop in underwriting income during a year when Canada’s most expensive natural disaster cost the firm $400 million before

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

Credit rating upgrades outpace downgrades for U.S. P&C carriers in 2016: A.M. Best

February 7, 2017 by Canadian Underwriter

Credit rating activity in 2016 turned positive as upgrades outpaced downgrades for the property & casualty industry in the United States, despite headwinds that include pressure on underwriting results and the low investment yield environment, according to a new special

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

CNA Property & Casualty Operations combined ratio at 95.9% for full-year 2016

February 7, 2017 by Canadian Underwriter

CNA Financial Corporation has reported a Property & Casualty Operations combined ratio for 2016 of 95.9%, similar to 95.4% for the 12 months ending Dec. 31 2015, and a combined ratio of 99.9% for the fourth quarter of 2016 ending