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News Earnings / RatingsInsurance

How much have personal auto and property premiums increased in one year?

January 22, 2020 by Jason Contant

Both personal auto and personal property premiums in Canada increased double digits compared to the same quarter last year, pointing to a continued hardening in the market, according to Applied System’s latest premium rating index. Personal auto premiums in 2019

News Earnings / RatingsInsuranceLegislation / RegulationMarkets / Coverages

How much did auto insurance rates go up in Alberta last quarter?

January 13, 2020 by Jason Contant

Alberta’s Automobile Insurance Rate Board (AIRB) has approved rate increases for more than 20 insurers in Q4 2019, ranging from less than 1% to nearly 30% for basic coverage for private passenger vehicles. The rate hike was about 10% on

News Earnings / RatingsInsurance

How profitable have Canadian P&C insurers been so far this year?

December 18, 2019 by Jason Contant

Canada’s property and casualty insurers posted moderate profitability in the first nine months of 2019, but poor underwriting results and high loss ratios linger, notes an executive from the Property and Casualty Insurance Compensation Corporation (PACICC). For Q3 2019 year-to-date

News Earnings / RatingsInsurance

Board finds insurance reserves regulation “invalid”

December 9, 2019 by Jason Contant

Manitoba’s Public Utilities Board (PUB) has found a recently enacted insurance reserves regulation to be “invalid.” The Reserves Regulation sets out the manner of determining the amount to be maintained by the Manitoba Public Insurance (MPI) Corporation in its reserves

News Earnings / RatingsRisk

Trade conflicts and uncertainty remain a key risk: Bank of Canada

December 4, 2019 Craig Wong - THE CANADIAN PRESS

OTTAWA – The Bank of Canada kept its key interest rate on hold Wednesday, noting that while global recession concerns are waning, trade conflicts and related uncertainty continue to remain a key risk. The central bank’s overnight rate target has

News BrokersEarnings / RatingsInsurance

You think the auto market is bad? Check out personal property…

October 10, 2019 by Jason Contant

The hard market is showing no signs of abating, with all provinces posting premium rate increases in personal lines in the latest quarter, according to Applied Systems’ most recent rating index. Personal property premiums increased on average by 13.6% compared

News Earnings / RatingsInsuranceMarkets / Coverages

Where Q2 personal auto premiums increased the most in Canada

July 17, 2019 by Jason Contant

The hard market continues in personal lines in Canada, with personal auto in Quebec seeing a significant increase in average premiums in Q2 2019, according to Applied Systems’ latest rating index. Last week, the insurance software vendor released its most

News ClaimsEarnings / RatingsInsuranceMarkets / Coverages

What is costing Alberta auto insurers the most

June 13, 2019 by Jason Contant

Third-party liability coverage continues to be the bane of Alberta auto insurers’ existence, the province’s Automobile Insurance Rate Board (AIRB) revealed in its 2018 annual report. Provincial auto insurers collect 53% of every dollar for third-party liability coverage, but are

News Earnings / RatingsInsurance

How Fairfax’s Allied World acquisition is working out

May 10, 2019 by Greg Meckbach

Old medical malpractice claims with Allied World Assurance Company are still affecting the bottom line of Canada’s Fairfax Financial Holdings Ltd., which bought the majority of Allied World nearly two years ago. With a combined ratio of 102.3%, Zug, Switzerland-based

News CatastrophesClaimsEarnings / RatingsInsurance

Is the reserve release tank running on empty?

April 15, 2019 by David Gambrill

The Canadian property and casualty industry saw its reserve releases contract in 2018 to their lowest level in seven years, according to MSA’s Q4 2018 Quarterly Outlook. Expressed as a percentage of loss development margin, reserve releases last year amounted

News Earnings / Ratings

All bets are off on timing of interest rate increase

March 8, 2019 Andy Blatchford - THE CANADIAN PRESS

OTTAWA  – A weak data report “surprised” the Bank of Canada ahead of its decision to cast doubts about future interest-rate hikes and to warn Canadians the ongoing slump could prove to be unexpectedly stubborn, says one of the bank’s

News Earnings / Ratings

What it will take for another interest rate hike

February 21, 2019 Andy Blatchford THE CANADIAN PRESS

OTTAWA – The head of the Bank of Canada says his trend-setting interest rate is low enough, at its below-inflation level of 1.75 per cent, that it’s delivering stimulative effects to the economy. But even in the stronger economy, governor