Topic
Earnings / Ratings
Real growth of direct premiums written in non-life insurance forecast at 1.7% for Canada in 2017 and 2.6% in 2018: Swiss Re
November 22, 2016 by Canadian UnderwriterReal growth of direct premiums written in non-life insurance in Canada is expected to be 0.8% this year, but up to 1.7% in 2017 and 2.6% in 2018, according to Swiss Re’s Global insurance review and outlook for 2017/18. The…
Federal government should consider emergency back-stop mechanism for catastrophic earthquake: conference board
November 22, 2016 by Canadian UnderwriterThe Conference Board of Canada is echoing a recent recommendation by a former federal superintendent of financial institutions for Ottawa to consider adopting a last-resort, emergency back-stop mechanism for a catastrophic earthquake given the long-reaching, adverse effects that the event…
Zurich Insurance announces plans to position itself for future, new profitability targets
November 17, 2016 by Canadian UnderwriterZurich Insurance Group plans to build on customer relationships, simplify the business and significantly reduce costs as part of its renewed focus on increasing business profitability and delivering high-quality earnings over the 2017-2019 period, the global insurer announced Thursday. “In…
Desjardins General Insurance Group reports net income of $12.1 million for Q3 2016 compared to net loss of $32 million in Q3 2015
November 14, 2016 by Canadian UnderwriterLévis, Que.-based Desjardins General Insurance Group (DGIG) – a Desjardins Group subsidiary specializing in property and casualty insurance – has reported a net income of $12.1 million in the third quarter of 2016 ending Sept. 30, compared to a net…
Impact of June Ontario auto changes ‘will be something to see going forward:’ A.M. Best
November 13, 2016 Greg Meckbach, Associate EditorIt is too early to gauge the exact financial impact, on insurers, of Ontario auto changes that took effect this past June, and in the meantime, the mandated 15% rate reduction announced three years ago is still affecting loss ratios,…
Net income for Allianz Group up 36.5% in Q3 2016 to 1.9 billion euros
November 11, 2016 by Canadian UnderwriterAllianz Group has reported that net income attributable to shareholders climbed 36.5% in the third quarter of this year ending Sept. 30 to 1.9 billion euros, due partly to better performance across its business segments. However, for the nine-month period ending…
Zurich’s net income after tax attributable to shareholders up 342% in Q3 2016
November 10, 2016 by Canadian UnderwriterZurich Insurance Group has reported net income after tax attributable to shareholders (NIAS) of US$912 million for the third quarter of 2016 ending Sept. 30, up 342% from US$207 million in the same quarter in 2015. For the nine months…
Munich Re posts profit of 684 million euros in third quarter
November 10, 2016 by Canadian UnderwriterMunich Re has posted a profit for 684 million euros in the third quarter of 2016 ending Sept. 30, up from 525 million euros in the same quarter last year. For the first nine months of the year ending Sept.…
Fort McMurray will hit Canadian’s p&c industry financial results in 2016: A.M. Best
November 9, 2016 by Canadian UnderwriterCurrent-year financial results for Canada’s property and casualty industry – which were once again strong in 2015 – are expected to take a hit in the wake of the Fort McMurray wildfire loss, notes a new report from A.M. Best.…
A.M. Best maintains stable outlook for Canadian P&C industry; financial results strong again in 2015
November 8, 2016 by Canadian UnderwriterRatings firm A.M. Best Company continues to maintain a stable outlook for the Canadian property and casualty insurance industry, noting that it has “historically shown resilience and the ability to adapt when necessary.” A.M. Best’s stable outlook is based primarily…
Revenues for Willis Towers Watson up 2% in third quarter of 2016
November 8, 2016 by Canadian UnderwriterGlobal advisory, broking and solutions company Willis Towers Watson (WTW) has announced its financial results for the third quarter of 2016 ending Sept. 30, reporting total revenues of US$1.78 billion, an increase of 2% (5% constant currency increase, 1% organic…
Hurricane Matthew ‘will not be material’ to Berkshire Hathaway’s financial results
November 7, 2016 by Canadian UnderwriterBerkshire Hathaway Inc. reported Friday a 13% drop in its property & casualty premiums earned at its reinsurance group, while the primary insurers had a combined loss ratio of 61% during the third quarter of this year. For the three…