Canadian Underwriter

Topic
Earnings / Ratings

News Commercial LinesEarnings / RatingsInsurance

How Intact is handling commercial insurance relief measures

May 7, 2020 by Greg Meckbach

Canada’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

News Earnings / RatingsRisk

Head of RBC says not to expect quick economic recovery from COVID-19

April 8, 2020 The Canadian Press

TORONTO – 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

News Earnings / RatingsEmploymentInsurance

How Canada’s P&C industry will weather the economic storm from COVID-19

April 1, 2020 by Jason Contant

Canada’s P&C insurance industry will likely not experience significant underwriting losses overall, but financial volatility due to COVID-19 will affect investment portfolios in the short-term, global credit ratings firm DBRS Morningstar said in a new report. “We consider the coronavirus

News Earnings / RatingsInsurance

Intact’s take on how COVID-19 could extend the hard market

April 1, 2020 by Greg Meckbach

Pricing relief offered to Canadians who are currently absorbing a financial hit from the pandemic could ultimately have the boomerang effect of prolonging the hard market, Intact’s chief executive suggests. “It is clear to me that this corrective action [on

Feature Earnings / RatingsInsurance

When is hard actually hard?

March 30, 2020 By Sarah Cunningham-Scharf

Canadian brokers assess the current market in commercial lines, noting the contrast with what’s happening in personal lines

News Commercial LinesEarnings / RatingsInsurance

Aviva CEO’s take on what to expect in Canada’s condo lines

March 6, 2020 by David Gambrill

Look for rate increases in Canada’s commercial residential realty segment to continue apace in 2020, but perhaps taper off in 2021 and beyond, Aviva Canada’s president and CEO predicted Thursday. And as rates harden in condo lines, expect Aviva Canada

News Earnings / RatingsInsurance

Why Aviva Canada’s financial rebound gained momentum in 2019

March 5, 2020 by David Gambrill

Aviva Canada’s ongoing profit remediation plan — which took effect after disappointing results posted in 2017 — loomed large in the company’s improved financial results in 2019, the company reported Thursday. Aviva Canada’s operating profit increased to £191 million (approx.

News Earnings / RatingsInsurance

What may happen when Intact’s ROE reaches the mid-teens

February 5, 2020 by David Gambrill

Don’t expect in 2020 to see the Canadian P&C industry’s return on equity (ROE) rise to the level of the 10%, which is one possible indicator that the hard market may be ending, according to Intact president and CEO Charles

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