Keyword
underwriting loss
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…
Economic and market headwinds may challenge profitable growth for U.S. insurers: Guy Carpenter
October 18, 2017 by Canadian UnderwriterWhile the insurance industry in the United States is well-capitalized and market sentiment is mostly positive, there is still evidence of economic and market-based headwinds that will challenge profitable growth, a new report from Guy Carpenter has suggested. In the…
U.S. P&C industry records US$5.1 billion underwriting loss in first half of 2017: A.M. Best
August 29, 2017 by Canadian UnderwriterThe property and casualty industry in the United States recorded a net underwriting loss of US$5.1 billion for the first six months of the year, according to preliminary results from A.M. Best Company. This underwriting loss compares with a US$2 billion loss in the same period a year ago, the Oldwick, N.J. ratings firm said in a press release on Tuesday. Data from the financial review is derived from companies’ six-month 2017 interim statutory statements received as of Aug. 21 and represents an estimated 96%…
U.S. P&C industry sustains favourable rating activity in H1 2017: A.M. Best
August 17, 2017 by Canadian UnderwriterCredit rating activity for the United States’ property and casualty industry in the first half of 2017 was favourable, with upgrades outpacing downgrades, A.M. Best Company reported on Thursday. Nearly one-third of the 2017 upgrades were driven by “increased parental…
Echelon’s combined ratio improves 4.2 points to 93.5% in Q2, driven by personal auto and commercial property and liability
August 10, 2017 by Canadian UnderwriterToronto-based Echelon Financial Holdings Inc. has reported a combined operating ratio of 93.5% for the second quarter of 2017 ending June 30, a 4.2 point improvement from 97.7% in Q2 2016, driven by strong results in personal auto and commercial…
Economical reports 12.8% increase in gross written premiums in Q2 2017, 8.3 point increase in combined ratio to 112.8%
August 4, 2017 by Canadian UnderwriterEconomical Insurance reported a 12.8% increase in gross written premiums (GWP) in the second quarter of 2017 to $660.6 million, driven by strong personal lines growth, including contributions from Sonnet and Petline. “While we generated significant growth in gross written…
Allstate reports Property-Liability combined ratio of 97.2% in Q2 2017, a 3.6% improvement from 100.8% in Q2 2016
August 2, 2017 by Canadian UnderwriterThe Allstate Corporation has reported a Property-Liability (P-L) combined ratio of 97.2% for the second quarter of 2017 ending June 30, a 3.6% improvement from 100.8% in Q2 2016. Northbrook, Ill.-based Allstate released its financial results for the quarter and…
Absence of large losses contributes to 20.6-point drop in Q2 combined ratio for PartnerRe
August 1, 2017 by Canadian UnderwriterPartnerRe Ltd. reported a combined ratio of 87.7% during the three months ending June 30, a 20.6-point improvement over 108.3% during the same period in 2016, when Canada experienced its most expensive natural disaster ever and a loss from an…
Combined ratio down 4.6 points at Axis Capital
July 28, 2017 by Canadian UnderwriterAxis Capital Holdings Ltd. reported Wednesday a 4.6-point improvement in its Q2 combined ratio, from 102.2% in the second quarter of 2016 to 97.6% in the latest quarter. Pembroke, Bermuda-based Axis Capital writes both reinsurance and commercial primary insurance worldwide…
Q2 combined ratio improves 13.3 points to 101% for The Co-operators
July 28, 2017 by Canadian UnderwriterCo-operators General Insurance Company reported Thursday an underwriting loss of $6.6 million in the three months ending June 30, while direct premiums written were $768.7 million, up 6.4% from $722.6 million in Q2 2016. During the second quarter of 2016,…
Investment income doubles for Canadian P&C industry: MSA
June 27, 2017 by Canadian UnderwriterThe Canadian property and casualty insurance industry had essentially no underwriting income during the first three months of the year but Q1 net investment income more than doubled year over year, figures from a report from MSA Research Inc. suggest.…
Q1 combined ratio ex-MYA 101.6% for Desjardins General Insurance
May 16, 2017 by Canadian UnderwriterDesjardins 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…