Canadian Underwriter

Topic
Earnings / Ratings

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News BrokersEarnings / RatingsInsurance

Who was the world’s biggest brokerage in 2021?

June 7, 2022 by David Gambrill

Mirror, mirror, on the wall, who’s the biggest brokerage of them all? Marsh McLennan, with revenue of US$9.5 billion and a global market share of approximately 15.4% in 2021, said a new report by Insuramore, a London, U.K.-based insurance and

News AnnouncementsCommercial LinesEarnings / RatingsInsurance

The line that drove Aviva Canada’s 2022 Q1 premium growth

May 20, 2022 by David Gambrill

Commercial lines premiums at Aviva Canada grew by 17% in 2022 Q1 (13% at constant currency), according to the company’s quarterly financial results. “Sixty per cent of the growth overall [in commercial lines] is coming from rate and about 40%

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News ClaimsClaims CanadaCommercial LinesConstructionEarnings / RatingsInsuranceMarkets / CoveragesPodcastProductsRisk

What disco-era stagflation means for insurers’ bottom lines

May 5, 2022 Philip Porado

Tight supply chains are taking a bite out of GDP numbers, stagnating economies across the globe while simultaneously pushing up prices. For anyone whose memories don’t stretch back to the 1970s, the counterintuitive combination of a stagnating economy and rising

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News BrokersEarnings / RatingsInsurance

Despite “aggressive growth goals,” insurers cautioned to keep their powder dry

April 25, 2022 by David Gambrill

Although the industry achieved a highwater mark financial result in 2021, industry executives are cautioning insurers to keep their powder dry and not reduce pricing drastically to grow market share. “I just look through the windscreen, all the things coming

Caution Sign - Higher Interest Rates Ahead
News Earnings / RatingsInsurance

What higher interest rates mean for the P&C industry

April 14, 2022 by David Gambrill

When the Bank of Canada hiked interest rates a full half point on Wednesday, at first blush, it seemed Canada’s P&C industry might benefit from the inflation-curbing measure by garnering greater returns on their investments. But it’s not that straightforward,

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News AssociationsBrokersCommercial LinesEarnings / RatingsInsuranceLegalLegislation / RegulationProductsReinsurance

Does federal budget create new tax liability for P&C industry?

April 12, 2022 Greg Meckbach

A federal budget proposal to forbid insurers from using a contractual service margin as a deductible reserve for tax purposes could impose a one-time tax liability on the industry. International Financial Reporting Standard 17 (IFRS 17) will “substantially change the

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News BrokersClaimsEarnings / RatingsInsuranceMarkets / Coverages

How auto could be the force that eats into Canadian insurers’ results

April 8, 2022 by David Gambrill

With ROE levels in the Canadian P&C industry at a historic high of 17%, count Lloyds Canada among the list of insurance providers that caution the industry not to squander the hard-won gains of the hard market in a bid

European Union sanctions Russia.
News AnnouncementsClaimsCommercial LinesEarnings / RatingsInsuranceMarkets / CoveragesProductsReinsurance

Ratings agency suspends commercial activities in Russia

March 30, 2022 Philip Porado

Getting ahead of a European Union-imposed Apr. 15 sanctions deadline, a major global credit ratings agency specializing in the insurance industry has suspended all commercial activities in Russia. AM Best said it’s also withdrawn all credit ratings on reinsurance companies

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News BrokersEarnings / RatingsInsuranceLegalLegislation / Regulation

Fee disclosure: Where national guidance meets provincial regulation

March 29, 2022 by David Gambrill

If you are a broker concerned about fair dealing with consumers, must you disclose your premiums that are baked into their premium rates? Or only those fees separate and apart from your commissions? In fine Canadian fashion, the answer depends

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News BrokersEarnings / RatingsInsurance

Emerging trends in broker compensation

March 25, 2022 by David Gambrill

In the midst of the ‘Great Reshuffle,’ brokerage principals are finding employee-recognition programs a better way to compensate brokers for good performance. Fifty-three per cent of the 119 brokerage managers participating in Canadian Underwriter’s 2022 National Broker Survey touted employee-recognition

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News Commercial LinesEarnings / RatingsInsurance

Say what you want about the hard market, it’s working

March 22, 2022 by David Gambrill

The hard market may be the biggest challenge facing the broker channel, according to Canadian Underwriter‘s 2022 National Broker Survey, but statistics show it’s vastly improved the P&C industry’s financial health. Canada’s property and casualty insurance industry reported an underwriting

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News Earnings / RatingsInsurance

What the federal Liberal-NDP deal means for P&C insurers

March 22, 2022 by Alyssa DiSabatino

Editor’s Note: This story has been updated to include information from Insurance Bureau of Canada. The Liberal party’s campaign promise to include a higher surtax on the financial sector is one step closer to being implemented, which means higher taxes