Topic
Earnings / Ratings
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…
How Canada’s P&C industry will weather the economic storm from COVID-19
April 1, 2020 by Jason ContantCanada’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…
Intact’s take on how COVID-19 could extend the hard market
April 1, 2020 by Greg MeckbachPricing 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…
When is hard actually hard?
March 30, 2020 By Sarah Cunningham-ScharfCanadian brokers assess the current market in commercial lines, noting the contrast with what’s happening in personal lines
Aviva CEO’s take on what to expect in Canada’s condo lines
March 6, 2020 by David GambrillLook 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…
Why Aviva Canada’s financial rebound gained momentum in 2019
March 5, 2020 by David GambrillAviva 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.…
What may happen when Intact’s ROE reaches the mid-teens
February 5, 2020 by David GambrillDon’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…