Canadian Underwriter

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Joel Silverthorn

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Canadian industry underwriting income down 81% in 2016: MSA

April 18, 2017 by Canadian Underwriter

The Canadian property and casualty insurance industry had underwriting income of $484 million in 2016, down 81% from $2.554 billion in 2015, while reinsurers’ combined ratio deteriorated 30.4 points year over year, MSA Research Inc. suggested in a report released

News InsuranceMarkets / CoveragesProfessional DevelopmentReinsurance

Canadian insurers ‘in a tough time for investments,’ A.M. Best analysts warn

November 15, 2016 Greg Meckbach, Associate Editor

Mergers and acquisitions in the reinsurance sector sometimes involve carriers acquiring managing general agents, while in Canada, M&As have involved insurers trying to “beef up certain parts of their enterprise,” analysts from A.M. Best Company Inc. suggested at a recent

News Earnings / RatingsInsuranceLegislation / RegulationMergers and Aqcuisitions

Impact of June Ontario auto changes ‘will be something to see going forward:’ A.M. Best

November 13, 2016 Greg Meckbach, Associate Editor

It 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,

News CatastrophesInsuranceMarkets / CoveragesReinsurance

Canadian insurers covering Fort McMurray property ‘learned a lot’ from 2011 Slave Lake wildfire: A.M. Best’s Silverthorn

November 10, 2016 Greg Meckbach, Associate Editor

The insured loss from the wildfire in May in Fort McMurray, Alta. will be “somewhere between” $3.6 billion and $4.6 billion, with European reinsurers covering nearly half of the loss, analysts from A.M. Best Company Inc. suggested Thursday. “The reinsurers

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsurance

Fort McMurray will hit Canadian’s p&c industry financial results in 2016: A.M. Best

November 9, 2016 by Canadian Underwriter

Current-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.