Topic
Earnings / Ratings
The good news and bad news about Ontario auto
September 24, 2020 by Greg MeckbachOntario auto insurance rates were 3.7% lower in the second quarter of 2020, than in the same period in 2019, but were still higher than in the three months ending March 30, 2020, data released Tuesday by LowestRates.ca suggests. “COVID…
Winners and losers of the COVID-19 quarter
September 24, 2020 by David GambrillAlthough COVID-19 infected the underwriting results of the entire P&C insurance industry, it did not affect all insurance organizations equally, as recent data released by MSA Research shows. “The overall picture that emerges at the end of June is one…
Pandemic relief: Keeping the size of auto insurance discounts in perspective
September 14, 2020 by Greg MeckbachSometimes it’s not just about the size of the pandemic auto insurance discount, but the fact that it was a discount and not a rate hike that makes all the difference to a consumer. For example, a 25% auto insurance…
How bad Canada’s auto loss ratios are getting
September 11, 2020 by Greg MeckbachThe Canadian industry’s loss ratio in auto liability has deteriorated for the fourth year in a row, A.M. Best Company Inc. has reported. Meanwhile, the loss ratio in “auto personal accident” deteriorated nearly 10 points. It increased from 70.4% in…
How A.M. Best predicts pandemic could affect the Canadian P&C industry
September 8, 2020 by Greg MeckbachAn increase of residential cooking fires and business closures arising from the pandemic are among the trends affecting the Canadian property and casualty insurance industry on the radar of A.M. Best Company Inc. Overall, personal property losses are lower so…
Reinsurers discuss the hard market, new bricks-and-mortar locations
August 18, 2020 by Jason ContantGiven the persisting novel coronavirus infections and the economic fallout from the pandemic, it seems unlikely any reinsurers would want to set up new physical locations this year, but that’s exactly what may happen, speakers said recently during an A.M.…
Why A.M. Best sees the global reinsurance market as ‘stable’
August 13, 2020 by Jason ContantMonths into the COVID-19 pandemic, reinsurance industry observers are seeing a mixed forecast ahead and it’s too early to tell how the pandemic will affect rating actions, according to a recent A.M. Best webinar. “Obviously, the situation has gotten complicated…
Aviva Canada’s approach to navigating the economic recession
August 7, 2020 by David GambrillWhether or not an economic recovery in Canada is just around the corner — speculation of which is fuelled by the developments in researching a COVID-19 vaccine — Aviva Canada is committed to sticking to its three-year financial targets established…
COVID’s impact on Aviva’s first-half results
August 6, 2020 by David GambrillAviva Canada overcame high claims costs related to pandemic losses and severe-weather catastrophe events in Alberta to trim its combined operating ratio (COR) down from 98.1% in the first half of 2019 to 95.5% during the first half of this…
CU Webinar: Industry execs to discuss impact of economic recession on Canada’s P&C industry
June 12, 2020 by David GambrillWay back in 2020 Q1, before the world turned upside down, the Canadian property and casualty insurance results were on the rebound from a difficult prior year. But on Mar. 11, 2020, the World Health Organization declared the novel coronavirus…
How Intact is handling commercial insurance relief measures
May 7, 2020 by Greg MeckbachCanada’s largest property and casualty insurer is renewing some commercial policies with no changes in price, and is making mid-term policy adjustments to reflect changing risk portfolios under the current economic conditions. The company said in a recent earnings call…
Head of RBC says not to expect quick economic recovery from COVID-19
April 8, 2020 The Canadian PressTORONTO – The head of the Royal Bank of Canada is warning the economic recovery from the COVID-19 pandemic will likely be slower and more uneven than originally thought. CEO Dave McKay said Wednesday that the depths of the challenge…