Topic
Earnings / Ratings
DBRS teams up with MSA Research to provide its insurer ratings on MSA’s analytical platform and reports
March 21, 2017 by Canadian UnderwriterMSA Research Inc. (MSA) announced on Monday that it will carry exclusively the insurer ratings of DBRS Ltd. on its MSA Research Platform and printed reports. With this partnership, up-to-date ratings from DBRS will now be available at the fingertips…
84% of polled insurance companies planning to make acquisitions in 2017: KPMG International
March 17, 2017 by Canadian UnderwriterThe lion’s share of insurance companies taking part in a KPMG International-commissioned survey plan to make acquisitions in 2017, with most respondents saying their companies are being driven by need to transform business and operating models. The insurance sector looks…
Munich Re operating result down in 2016 from 2015, new partnerships could answer changing client demands
March 16, 2017 by Canadian UnderwriterMunich Re is looking to set up partnerships that would previously not have been considered, the company reported this week in announcing the group operating result fell 16.5% to 4,025 million euros in 2016 compared to 4,819 million euros in…
Aviva reports combined ratio of 94.6% in Canada in 2016
March 13, 2017 by Canadian UnderwriterAviva plc announced a 0.8-point increase in its combined ratio in Canada while operating profit was up 16%. London-based Aviva released March 9 its preliminary results for 2016. General insurance net premiums written, worldwide, increased 15%, from £7.177 billion in…
Largest single loss for Hannover Re in 2016 was the Fort McMurray wildfire, with net cost of 127.9 million euros
March 10, 2017 by Canadian UnderwriterThe largest single loss for Hannover Re last year was the Fort McMurray wildfire, with a “net strain” of 127.9 million euros, the reinsurer reported on Thursday. Hannover Re released its financial results on Thursday, reporting a Group net income…
Kingsway Financial Services Inc. posts net loss for both full-year, fourth quarter 2016
March 8, 2017 by Canadian UnderwriterSeveral significant events during the fourth quarter of 2016 contributed to Kingsway Financial Services Inc. (KFS) reporting a net loss for both the quarter and the full year. For all of 2016, the company posted a loss of about US$9.4…
ICBC seeks fairness with basic insurance rate discounts
March 6, 2017 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) is looking to reduce pressure on customers who do not cause crashes and increase the accountability of at-fault drivers with proposed changes to basic insurance. “We believe that drivers who cause crashes should…
Echelon Insurance receives regulatory okay for sale of European operations
March 1, 2017 by Angela StelmakowichEchelon Financial Holdings Inc. (EFH) has received regulatory approval from the Danish Financial Services Authority to sell its European operations, a move that will allow Echelon Insurance to roll out its strategy to focus on Canadian operations. EFH noted in…
Desjardins General Insurance Group reports combined ratio of 62.1% for the fourth quarter of 2016, down 25.9 points from Q4 2015
February 28, 2017 by Canadian UnderwriterDesjardins General Insurance Group (DGIG), a Desjardins Group subsidiary specializing in property and casualty insurance, has announced a combined ratio excluding market yield adjustment (MYA) of 62.1% for the fourth quarter of 2016, down 25.9 percentage points from 88% in…
Crawford & Company reports net income attributable to shareholders rises to US$36.0 million in 2016 compared to loss in 2015
February 27, 2017 by Canadian UnderwriterAtlanta-based Crawford & Company posted net income attributable to shareholders for both the full year and fourth quarter of 2016 – reaching about US$7.8 million and about US$36.0 million – compared to losses in the prior-year periods. Net income attributable…
Berkshire Hathaway reports US$45.9 billion in insurance premiums earned for 2016, up more than US$4 billion from 2015
February 27, 2017 by Canadian UnderwriterBerkshire Hathaway Inc. has reported insurance premiums earned for 2016 of US$45.88 billion, up from US$41.29 billion in 2015. Omaha-Neb.-based Berkshire Hathaway has also reported Insurance-underwriting operating earnings of US$548 million for the fourth quarter of 2016 ending Dec. 31,…
RSA Group reports record 2016 underwriting profit of 380 million pounds and record combined ratio of 94.2%
February 24, 2017 by Canadian UnderwriterRSA Group has reported a record Group underwriting profit of 380 million pounds for 2016 – up 73% from 220 million pounds in 2015 – and a record Group combined ratio of 94.2% compared to 96.9% in 2015. RSA also…