Keyword
combined ratio
Why Canadian insurers should feel lucky after 2017
January 3, 2018 by Greg MeckbachAfter a year of massive North Atlantic hurricane losses, Canadian P&C insurers may have dodged a bullet with this year’s renewal season. Reinsurers licensed in Canada “were the main beneficiaries of the relatively quiet Canadian CAT year,” wrote Joel Baker,…
Blame auto losses for lackluster 2017 P&C results
January 2, 2018 by Greg MeckbachDespite a “relatively benign” year in Canada for catastrophes in 2017, the industry-wide combined ratio in Canada was still fairly high at 96.8% during the first nine months of last year, with auto results partly to blame, MSA Research reported…
Munich Re reports Q3 combined ratio of 160.9%, predicts 112% for full year
November 9, 2017 by Canadian UnderwriterDespite losing about 2.7 billion euros on three recent North Atlantic hurricanes alone, Munich Re said Thursday it is “expecting to generate a small profit” this year. Munich Re released its financial results for the period ending Sept. 30, reporting…
Q3 combined ratio improves 0.8 points at Allstate
November 7, 2017 by Canadian UnderwriterDespite the recent losses to the industry from multiple North Atlantic hurricanes, The Allstate Corp. has reported underwriting income is up more than 20%, from $355 million in the third quarter of 2016 to $429 million in the three months…
Combined ratio, net loss for Economical Insurance up in 2017 Q3 over 2016 Q3
November 6, 2017 by Canadian UnderwriterThe impact of strategic investments by Economical Insurance contributed to the insurer witnessing a combined ratio of 116.2% and an almost doubling of net loss in 2017 Q3 compared to 2016 Q3. The combined ratio for the third quarter of…
Commercial premiums down 13% for AIG
November 3, 2017 by Canadian UnderwriterAmerican International Group Inc. announced Thursday its combined ratio in commercial insurance was 195.4% in the three months ending Sept. 30, up 89.6 points from 105.8% in Q3 2016. New York City-based AIG confirmed Thursday an earlier-released estimate, of $3…
Combined ratio deteriorates 38.9 points for Fairfax amid hurricane losses
November 3, 2017 by Canadian UnderwriterFairfax Financial Holdings Ltd. has reported an underwriting loss of $833 million during the three months ending September 30, with its insurers’ share of losses from three recent hurricanes and an earthquake in Mexico amounting to $960 million. All figures…
Cats a significant driver in Everest Re Group’s posting US$639.4 million net loss in 2017 Q3
October 31, 2017 by Canadian UnderwriterLosses from hurricanes Harvey, Irma, Maria (HIM) and the Mexico City earthquake contributed to Everest Re Group, Ltd. posting a US$639.4 million net loss for 2017 Q3 compared to net income of US$295.4 million for the prior-year quarter. For the…
Axis Capital records Q3 combined ratio of 156.9%, $617 million in cat losses
October 31, 2017 by Canadian UnderwriterAxis Capital Holdings Ltd. has had a 60-point deterioration in its third-quarter combined ratio, with US$576 million in pre-tax net losses, net of reinstatement premiums from three hurricanes alone, the Bermuda-based insurer announced. Pembroke, Bermuda-based Axis Capital, which has a…
The Co-operators reports net loss of $7.4 million in third quarter
October 27, 2017 by Canadian UnderwriterCo-operators General Insurance Company has reported a consolidated net loss of $7.4 million for the third quarter of 2017 ending Sept. 30 compared to net income of $16.3 million for the same quarter of 2016. Guelph, Ont.-based The Co-operators released…
P&C combined ratio for XL Group up to 146.9% in third quarter
October 25, 2017 by Canadian UnderwriterXL Group Ltd. has reported a P&C combined ratio of 146.9% for the third quarter of 2017 ending Sept. 30, as natural catastrophe losses largely attributed to Hurricanes Harvey, Irma and Maria took their toll. Excluding prior-year development and nat…
U.S. inland marine industry one of the “most profitable and consistent” lines: A.M. Best
October 24, 2017 by Canadian UnderwriterThe inland marine insurance industry has been one of the most profitable and consistent lines of business in the property and casualty industry over the past decade, according to a new special report from ratings firm A.M. Best Company. The…