Keyword
net premiums written
Former Marsh & McLennan CEO Duperreault replaces Hancock as CEO of AIG
May 15, 2017 by Canadian UnderwriterAmerican International Group Inc. has a new chief executive officer, Brian Duperreault, as of Sunday, the New York City-based insurer announced. Duperreault (pictured right), a former CEO of Marsh & McLennan Companies Inc., is now also president and director of…
Combined ratio up 2.1 points, non-life premiums down 14% at PartnerRe
May 5, 2017 by Canadian UnderwriterA change in the measure used to calculate lump sum awards in bodily injury cases in Britain had an impact on PartnerRe Ltd.’s financial results, which the Hamilton, Bermuda insurer released Wednesday. PartnerRe, which has a Toronto branch office, reported…
Combined ratio 100% in Q1 for Markel
May 2, 2017 by Canadian UnderwriterCommercial insurance writer Markel Corp. reported a combined ratio of 100% in the three months ending March 31, a 12-point deterioration from its combined ratio of 88% during the first quarter of last year. Glen Allen, Virginia-based Markel released April…
Combined ratio up 3.1 points for Allied World
May 1, 2017 by Canadian UnderwriterAllied World Assurance Company Holdings AG, which is expected to have a new Canadian corporate parent, recently reported a 3.1-point deterioration, year over year, in its first-quarter combined ratio, nearly a month after Cyclone Debbie hit the north shore of…
Chubb net income up 149.2% to US$1.09 billion in Q1 2017
April 26, 2017 by Canadian UnderwriterChubb Limited has reported a 149.2% increase in net income for the first quarter of 2017 ending March 31, from US$439 million in Q1 2016 to US$1.09 billion in the most recent quarter. Operating income was US$1.17 billion, up 15.3%…
Canadian industry underwriting income down 81% in 2016: MSA
April 18, 2017 by Canadian UnderwriterThe 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…
Canadian p&c insurance industry sees solid premiums, but net income down in 2016: MSA Research
March 22, 2017 by Canadian UnderwriterThe Canadian property and casualty insurance industry saw solid results for both direct premiums written (DPW) and net premiums written (NPW) in 2016, but that was countered by big decreases in both net income and underwriting income, note new figures…
Combined ratio up 8 points for PartnerRe
February 23, 2017 by Canadian UnderwriterPartnerRe Ltd., which has a Toronto branch office, reported an eight-point deterioration in its combined ratio, from 85.6% in 2015 to 93.6% in 2016, while the net loss in Q4 2016 was US$173.7 million. In addition to reinsurance, Hamilton, Bermuda-based…
Fairfax reports 2016 combined ratio for insurance and reinsurance operations of 92.5%
February 17, 2017 by Canadian UnderwriterToronto-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…
Combined ratio up three points for Markel
February 10, 2017 by Canadian UnderwriterMarkel 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…
Q4 combined ratio up 14.9 points at Aspen
February 9, 2017 by Canadian UnderwriterWildfires in Tennessee, an earthquake in New Zealand, Hurricane Matthew and energy-related losses all contributed to a 20.2-point deterioration in the fourth-quarter loss ratio in reinsurance for Aspen Insurance Holdings Ltd., while in primary insurance, Aspen reported a combined ratio…
AXIS Capital reports net income of US$131 million for Q4 2016
February 6, 2017 by Canadian UnderwriterPembroke, Bermuda-based AXIS Capital Holdings Limited has reported a net income available to common shareholders for the fourth quarter of 2016 of US$131 million, comparable to a net income of US$135 million for the fourth quarter of 2015. Net income…