Topic
Earnings / Ratings
Echelon reports Canadian combined ratio of 94% for Q1 2017, down 6% from Q1 2016
May 4, 2017 by Canadian UnderwriterMississauga, Ont.-based Canadian P&C insurer Echelon Financial Holdings Inc. has reported a Canadian combined operating ratio of 94% for the three months ending March 31, down from 100% in Q1 2016 and driven by strong results in both personal and…
Commercial insurance premiums down 17% at AIG
May 3, 2017 by Canadian UnderwriterAmerican International Group Inc. reported more than $1 billion in profit in the latest quarter and the New York City-based insurer continues “remediation” of its United States property and casualty business. AIG released Wednesday its financial results for the first…
Severe wind events drive up Intact’s Q1 loss ratio
May 3, 2017 by Canadian UnderwriterIntact Financial Corp. said Tuesday it is “confident” that the Ontario government will “implement material changes” in auto insurance, while reporting a combined ratio of 98.2% during the first three months of year, up 5.7 points from 92.5% during the…
Underwriting income up 83.3% for Arch Capital
May 2, 2017 by Canadian UnderwriterArch Capital Group Ltd. recently reported a seven-point improvement in its first-quarter combined ratio while net premiums written were up more than an eighth. Hamilton, Bermuda-based Arch released April 25 its financial results for the three months ending March 31,…
Combined ratio 100% in Q1 for Markel
May 2, 2017 by Canadian UnderwriterCommercial insurance writer Markel Corp. reported a combined ratio of 100% in the three months ending March 31, a 12-point deterioration from its combined ratio of 88% during the first quarter of last year. Glen Allen, Virginia-based Markel released April…
The Co-operators reports net income of $34.6 million for Q1 2017, combined ratio of 102.5%
May 2, 2017 by Canadian UnderwriterGuelph, Ont.-based Co-operators General Insurance Company has reported a consolidated net income of $34.6 million for the first quarter of 2017 ending March 31, down from $39.3 million in the first quarter of 2016. The company’s combined ratio, excluding market…
Combined ratio up 3.1 points for Allied World
May 1, 2017 by Canadian UnderwriterAllied World Assurance Company Holdings AG, which is expected to have a new Canadian corporate parent, recently reported a 3.1-point deterioration, year over year, in its first-quarter combined ratio, nearly a month after Cyclone Debbie hit the north shore of…
Revenues for Marsh’s U.S./Canada division up to US$775 million in Q1 2017, from US$701 million in Q1 2016
May 1, 2017 by Canadian UnderwriterMarsh has reported revenues of US$775 million for its U.S./Canada division for the first quarter of 2017 ending March 31, up from US$701 million in the first quarter of 2016. Consolidated revenue for the quarter was US$3.5 billion, up 5%…
Arthur J. Gallagher reports brokerage revenues of US$878.5 million for Q1 2017
May 1, 2017 by Canadian UnderwriterArthur J. Gallagher & Co. (AJG) has reported brokerage revenues of US$878.5 million for the first quarter of 2017 ending March 31, up 6% from US$825.5 million in the first quarter of 2016. Rolling Meadows, Ill.-based AJG reported its financial…
A.M. Best requests comments on draft ratings criteria for Canadian P&C insurers
April 27, 2017 by Canadian UnderwriterOldwick, N.J.-based ratings firm A.M. Best Company is requesting comments from market participants in the insurance industry and other interested parties on the draft criteria reporting Understanding BCAR for Canadian Property/Casualty Insurers. BCAR, or Best’s Capital Adequacy Ratio, is calculated…
Aspen posts net income after tax of US$95.5 million for first quarter of 2017
April 27, 2017 by Canadian UnderwriterHamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a net income after tax of US$95.5 million for the first quarter of 2017 ending March 31, down from US$114.4 million in the same quarter of 2016. The insurer’s operating income after…
SCOR reports combined ratio of 94.5% and net income of 140 million euros in Q1 2017
April 27, 2017 by Canadian UnderwriterFrench reinsurer SCOR SE has reported a P&C combined ratio of 94.5% and a net income of 140 million euros for the first quarter of 2017 ending March 31. SCOR released its financial results on Thursday. Its 94.5% P&C combined…