Canadian Underwriter

Topic
Earnings / Ratings


News Earnings / RatingsInsurance

Chubb takes stand on sacrificing market share to maintain underwriting profit

April 7, 2018 by Greg Meckbach

Chubb Ltd. is willing to lose customers if they are not willing to pay higher prices for insurance. “We sacrifice market share (though not happily) in order to maintain an underwriting profit,” Evan Greenberg, chairman and CEO of Chubb Ltd.,

News Earnings / RatingsInsurance

Insurer losses not yet translating into property price hikes: broker

March 24, 2018 by Greg Meckbach

Brokers expecting to see price hikes in property lines after last year’s devastating hurricanes may have good news for clients, at least in the short term. “Long term, all of the carriers will need to increase pricing and they would

News CatastrophesClaimsEarnings / RatingsInsurance

Aviva Canada seeks average 5% rate increase in personal home and auto lines

March 8, 2018 by David Gambrill

Aviva Canada is putting through an average rate increase of 5% in personal home and auto lines after reporting a combined operating ratio of 102% in its 2017 year-end results. Aviva Canada’s net written premium increased by 15% in 2017

News Earnings / RatingsInsurance

Intact, Fairfax discuss impact of interest rate hike on income

February 27, 2018 by Greg Meckbach

With interest rates at historic lows, Canadian property and casualty insurers rely more on underwriting profits to keep profitable than they have in the past. What difference would a rate hike make to insurers? A one percentage point rise in

News Earnings / RatingsMarkets / Coverages

Feds tighten tax rules for small businesses and passive income in budget

February 27, 2018 Craig Wong - THE CANADIAN PRESS

OTTAWA – The Liberal government moved to tighten the tax rules for small businesses in the federal budget Tuesday as it fine-tuned the changes that prompted an uproar last year. However, Finance Minister Bill Morneau still faces the challenge of

News Earnings / RatingsInsuranceMarkets / Coverages

“No question” that Aviva Canada plans to hike auto rates: CEO

February 20, 2018 Greg Meckbach, Associate Editor

There is “no question” that Canada’s second-largest insurer, Aviva Canada, is contemplating country-wide rate increases in personal auto, Greg Somerville, the company’s president and CEO, told Canadian Underwriter Thursday. The cost of repairing vehicles with advanced technologies is one factor

News Earnings / RatingsInsuranceMarkets / Coverages

Bank of Canada hikes interest rate to 1.25%, cites strong economic data

January 17, 2018 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The economy’s impressive run prompted the Bank of Canada to raise its trend-setting interest rate Wednesday for the third time since last summer – but looking ahead it warned of growing uncertainties about NAFTA. The central bank pointed

News Earnings / RatingsInsuranceMarkets / CoveragesTechnology

Ontario auto insurance rates increased in last quarter of 2017

January 12, 2018 Allison Jones - THE CANADIAN PRESS

TORONTO – Auto insurance rates in Ontario increased in the last quarter of 2017, putting the Liberal government further away from its promise to cut rates by 15 per cent. Fourth quarter numbers released today by the Financial Services Commission

News Earnings / RatingsInsuranceMarkets / Coverages

Why insurers don’t want a sudden hike in interest rates

January 8, 2018 by Greg Meckbach

Insurers might be happy if lending rates rise by a few percentage points, but a financial executive with one mutual warns a sudden rise in interest rates carries a noticeable risk. The Bank of Canada announced in December it is

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

How insurers protect their earnings against multiple catastrophes

January 4, 2018 by David Gambrill

With the rise of multiple major catastrophe events in Canada, look for primary insurers to start seeking aggregate reinsurance covers as a means to adapt to climate change-related losses. “It’s the new normal that the companies are going to have

News CatastrophesEarnings / RatingsInsuranceMarkets / Coverages

2018 Outlook: John Taylor, President, CEO, Ontario Mutual Insurance Association (OMIA)

January 3, 2018 John Taylor

A lot of time and effort in 2018 will be spent reviewing this past year, which could be characterized as “the year of the water claim.” Almost all Ontario mutuals were exposed to one or more heavy rainfall events in

News Earnings / RatingsInsuranceMarkets / Coverages

Blame auto losses for lackluster 2017 P&C results

January 2, 2018 by Greg Meckbach

Despite a “relatively benign” year in Canada for catastrophes in 2017, the industry-wide combined ratio in Canada was still fairly high at 96.8% during the first nine months of last year, with auto results partly to blame, MSA Research reported