Canadian Underwriter

Keyword
combined ratio

News CatastrophesEarnings / RatingsInsuranceReinsurance

XL Group Ltd. sees net income soar in 2017 Q2 over prior-year quarter, focus on executing strategy continues

July 27, 2017 by Canadian Underwriter

Both net income attributable to common shareholders and operating net income for Bermuda-based XL Group Ltd. skyrocketed in 2017 Q2 compared to 2016 Q2, with the former increasing six-fold to US$301.6 million. Specifically, net income attributable to common shareholders amounted

News Commercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

SCOR posts net income of 292 million euros for the first half of 2017

July 27, 2017 by Canadian Underwriter

French reinsurer SCOR has reported a net income of 292 million euros for the first half of the year, up from 275 million euros in the first half of 2016. The company’s net combined ratio in P&C was 93.5% for

News CatastrophesCommercial LinesEarnings / RatingsInsuranceReinsurance

Combined ratio down 4.6 points for Everest Re

July 25, 2017 by Canadian Underwriter

Everest Re Group Ltd. reported Monday catastrophe losses, net of reinsurance, of $53.5 million in the three months ending June 30, with a 4.6-point improvement in its Q2 combined ratio to 90.5%. All figures are in United States dollars. Hamilton,

News Commercial LinesEarnings / RatingsInsurancePersonal Lines

Catastrophe losses contribute to decrease in 2017 Q2 net income for Travelers

July 21, 2017 by Canadian Underwriter

Solid net investment income was not enough to offset higher catastrophe losses and lower underlying underwriting gains, contributing to the Travelers Companies, Inc. witnessing lower net income for 2017 Q2 compared to 2016 Q2. Net income was US$595 million for

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Fitch revises Lloyd’s outlook to negative due to deterioration in underwriting performance

June 30, 2017 by Canadian Underwriter

Fitch Ratings has announced that it has revised Lloyd’s of London’s outlook to negative from stable as result of “deterioration in underwriting performance, coupled with increasing exposure to catastrophe risk in the context of continuing pressure on both risk-adjusted premium

News CatastrophesInsurancePersonal LinesProductsReinsurance

MSA calls for ‘sustainable solution for underinsurance’ in overland flood

June 27, 2017 by Canadian Underwriter

A potential solution to overland flood risk in Canada “could follow” the model of Britain’s Flood Re, MSA Research Inc. suggested in a report released Monday to Canadian Underwriter. Toronto-based MSA released its Quarterly Outlook Report for Q1 2017. In

News Insurance

U.S. P&C insurance industry’s net income drops 42.2% to US$7.7 billion in Q1 2017

June 26, 2017 by Canadian Underwriter

The private property and casualty insurance industry in the United States saw its net income after taxes drop to US$7.7 billion in the first quarter of 2017 from US$13.4 billion in Q1 2016, a 42.2% decline, according to ISO, a

News Commercial LinesEarnings / RatingsInsurancePersonal LinesProfessional DevelopmentReinsurance

Combined ratio for Canadian insurance industry in Q1 2017 estimated at 101.3%, up from 94.7% in Q1 2016: Baker

May 24, 2017 Jason Contant, Online Editor

The insurance industry in Canada saw a 6.6% hike in the combined operating ratio for the first quarter of 2017, from 94.7% in Q1 2016 to 101.3% in the first three months of this year, MSA Research Inc. president and

News CatastrophesInsurancePersonal Lines

Q1 combined ratio ex-MYA 101.6% for Desjardins General Insurance

May 16, 2017 by Canadian Underwriter

Desjardins General Insurance Group reported Thursday an underwriting loss, excluding market yield adjustment, of $17.2 million during the three months ending March 31, while premiums dropped 11% from the same period of last year. Direct premiums written dropped from $1.04

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and AcquisitionsReinsurance

Soft pricing in global reinsurance market to continue for at least the rest of 2017: Fitch

May 16, 2017 by Canadian Underwriter

The soft pricing in the global reinsurance market will continue for at least the rest of 2017, ratings firm Fitch Ratings said in a report released Monday. “We expect premium rates to continue declining, due to large volumes of under-deployed

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal Lines

Allianz total revenues up 2.5% to 36.2 billion euros in Q1 2017

May 12, 2017 by Canadian Underwriter

Allianz Group has recorded total revenues of 36.2 billion euros in the first quarter of 2017, up 2.5% from 35.4 billion euros in the same quarter last year. All segments contributed to the increase, Allianz said in a press release

News InsuranceMarkets / CoveragesPersonal Lines

Q1 claims and claims expense ratio improved 5.6 points for Allstate

May 10, 2017 by Canadian Underwriter

For the second year in a row, hail in Texas in March has cost The Allstate Corp. millions of dollars in claims and claims expenses. Northbrook, Ill.-based Allstate released May 2 its financial results for the first three months of