Keyword
profit
What profit level this regulator expects of insurers
February 15, 2022 by David GambrillNova Scotia’s insurance regulator has approved Intact Insurance for a small rate increase for individually rated commercial vehicles, including interurban trucks, in a decision more noteworthy for its insight into the kind of profit level the regulator expects of insurance…
Insurers object to characterization of Ontario auto as “profitable”
April 9, 2019 by David GambrillCanada’s home, auto and business insurers are objecting to a recent characterization of Ontario’s auto insurance regime as “profitable.” “The current trends are unsustainable for both drivers and insurance companies,” Insurance Bureau of Canada vice president of Ontario Kim Donaldson…
RSA Canada posts solid underwriting profit despite nat-Cat events in 2016
February 24, 2017 by Angela StelmakowichRSA Canada witnessed increased underwriting profit and a solid combined ratio for 2016 despite what can only be described as a challenging year that featured Canada’s most costly insurable nat-Cat ever and a host of other adverse weather events. “We’re…
Munich Re posts profit of 2.6 billion euros for 2016; Fort McMurray wildfire cost 404 million euros
February 7, 2017 by Canadian UnderwriterMunich Re reported on Tuesday a consolidated result of 2.6 billion euros for 2016, including a 0.5 billion euro profit in the fourth quarter of 2016 ending Dec. 31 compared to 0.7 billion euros in the previous year quarter. Munich…
Canadian non-life insurance market poised for 2017 profit recovery: Fitch
January 25, 2017 by Canadian UnderwriterThe Canadian non-life insurance industry is likely to return to an underwriting profit in 2017, according to Fitch Ratings’ new report on the Canadian non-life insurance market. Following a significant improvement in 2015 underwriting performance, the market in aggregate will…
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 Mac wildfire more than an “earnings event” for some insurers, domestic market posts $1 billion underwriting loss in H1: MSA
September 28, 2016 by Canadian UnderwriterThe Fort McMurray wildfire may have been an “earnings event” for the largest insurers in Canada’s property and casualty industry, but that was not the case for some smaller regional writers, notes the newly released MSA Quarterly Outlook Report for…
Lloyd’s reports 1.46 billion pound profit for first half of 2016, combined ratio up 8.5 points to 98%
September 22, 2016 by Canadian UnderwriterDespite seeing a “major claims increase due primarily to the Fort McMurray fires in Alberta, Canada” and a challenging market environment, Lloyd’s of London has reported a profit of 1.46 billion pounds – or nearly $2.5 billion – for the…
Jardine Lloyd Thompson Group’s £36.2 million profit for 2016 H1 half of prior-year period: interim results
July 27, 2016 by Canadian UnderwriterCollaboration among its Specialty operations around the world is driving organic revenue growth for Jardine Lloyd Thompson Group plc (JLT), but the £36.2 million in profit for the first half of 2016 is half the £77.7 million for the same…
Underwriting performance for U.S. commercial lines likely to deteriorate in 2016: Fitch Ratings
May 18, 2016 by Canadian UnderwriterUnderwriting performance for the commercial lines sector in the United States is likely to deteriorate in 2016, according to a report released on Tuesday by Fitch Ratings. The decline follows a three-year underwriting profit for the industry, with a combined…