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Berkshire Hathaway reports US$45.9 billion in insurance premiums earned for 2016, up more than US$4 billion from 2015

February 27, 2017 by Canadian Underwriter

Berkshire Hathaway Inc. has reported insurance premiums earned for 2016 of US$45.88 billion, up from US$41.29 billion in 2015. Omaha-Neb.-based Berkshire Hathaway has also reported Insurance-underwriting operating earnings of US$548 million for the fourth quarter of 2016 ending Dec. 31,

News Commercial LinesEarnings / RatingsInsuranceReinsurance

Combined ratio up 8 points for PartnerRe

February 23, 2017 by Canadian Underwriter

PartnerRe 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

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

Swiss Re reports 2016 net income of US$3.6 billion, P&C Re net income of US$2.1 billion

February 23, 2017 by Canadian Underwriter

Swiss Re has reported full-year 2016 net income of US$3.6 billion, including Property & Casualty Reinsurance net income of US$2.1 billion. Swiss Re said that its net income in P&C Re was US$2.1 billion last year compared to US$3 billion

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal LinesReinsurance

Combined ratio up 2 points for SCOR

February 22, 2017 by Canadian Underwriter

Paris-based reinsurer SCOR SE released Wednesday its latest financial results, reporting a combined ratio of 93.1% in 2016, up 2 points from 91.1% in 2015. The combined ratio in the most recent quarter was 93.3%, up 1.1 points from 92.2%

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Fairfax reports 2016 combined ratio for insurance and reinsurance operations of 92.5%

February 17, 2017 by Canadian Underwriter

Toronto-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

News CatastrophesCommercial LinesEarnings / RatingsInsurancePersonal Lines

Co-operators General Insurance Company net income $128.8 million in 2016 Q4, up from $103.3 million in 2015 Q4

February 16, 2017 by Canadian Underwriter

The consolidated net income for Co-operators General Insurance Company increased for the fourth quarter of 2016 over the same quarter in 2015, but net income for 2016 decreased from 2015. The Co-operators has posted net income of $128.8 million for

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AIG sees net loss of about US$3 billion in 2016 Q4

February 15, 2017 by Canadian Underwriter

American International Group, Inc. (AIG) has posted net losses for both the full year and the fourth quarter of 2016, but company president and CEO Peter Hancock reports that actions taken last year will help “dramatically reduce uncertainty and deliver

News Earnings / RatingsInsuranceReinsurance

Loss ratio up 1.4 points for Arch Capital

February 14, 2017 by Canadian Underwriter

Arch Capital Group Ltd. reported Monday a combined ratio of 99.4% in insurance during the last three months of 2016 due in part to Hurricane Matthew, while net favorable development, due in part to better than expected claims emergence in

News Commercial LinesEarnings / RatingsInsuranceReinsurance

Combined ratio up three points for Markel

February 10, 2017 by Canadian Underwriter

Markel 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

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Fairfax proposes to acquire New Zealand insurer Tower for nearly $200 million

February 9, 2017 by Canadian Underwriter

Fairfax Financial Holdings Ltd., the corporate owner of Northbridge Insurance, announced Wednesday it has agreed to buy Auckland-based Tower Limited, which writes property and casualty insurance in New Zealand and nearby nations. Tower’s shareholders, if they approve the deal, would

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Trisura to form new Canadian insurance holding company

February 9, 2017 by Canadian Underwriter

Trisura Guarantee Insurance Company has announced that it is forming Trisura Group Ltd., a new Canadian insurance holding company. Trisura Guarantee is currently owned 60% by Brookfield Asset Management and 40% by Trisura employees through a holding company. Mike George,

News Commercial LinesInsurancePersonal LinesReinsurance

Q4 combined ratio up 14.9 points at Aspen

February 9, 2017 by Canadian Underwriter

Wildfires 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