Topic
Earnings / Ratings
Zurich Insurance Group’s 2016 business operating profit down in H1, up in Q2 over prior-year periods
August 11, 2016 by Canadian UnderwriterContinuing to build on its efforts to simplify and become more agile, Zurich Insurance Group reports that its business operating profit (BOP) for the first half of 2016 was US$2.194 million, down 2% from US$2.238 million for 2015 H1. Figures…
Q2 combined ratio up 6.5 points for Munich Re
August 9, 2016 by Canadian UnderwriterMunich Re reported Tuesday a 6.5-point deterioration in its Q2 combined ratio in property & casualty reinsurance, as the recent wildfires in Northern Alberta and the April earthquakes in Japan were among the natural catastrophes that contributed to the firm’s…
Crawford more than doubles net income in second quarter of 2016
August 9, 2016 by Canadian UnderwriterAtlanta, Ga.-based Crawford and Company has reported a net income attributable to shareholders of US$8.6 million in the second quarter of 2016, more than double the net income of US$4.1 million in the same period last year. Claims management provider…
Berkshire Hathaway’s insurance premiums earned up nearly US$2 billion in first half of 2016
August 8, 2016 by Canadian UnderwriterBerkshire Hathaway Inc. has reported US$21.923 billion in insurance premiums earned for the first six months of the year, up from US$19.940 billion in the first half of 2015. For the second quarter of 2016 ending June 30, insurance premiums…
Nat cat losses for Allianz Group almost twice 10-year average for Q2
August 8, 2016 by Canadian UnderwriterAllianz Group reported Friday a 2.9-point deterioration in its property & casualty combined ratio, as natural catastrophe losses were “almost twice” its 10-year average for the second quarter. Munich-based Allianz reported its p&c operations had a combined ratio 96.4% during…
Combined ratio for Aviva plc for Canada up 3.9 points to 95.8% in first half of 2016
August 8, 2016 by Canadian UnderwriterAviva plc has reported a general insurance combined ratio of 95.8% for Canada for the first six months of 2016, up 3.9 points from the H1 2015 combined ratio of 95.8%. In particular, the combined operating ratio for the first…
Economical Insurance cites wildfire’s impact, net income drops to $17.1 million in 2016 Q2
August 8, 2016 by Canadian UnderwriterCanada’s worst-ever insured natural disaster – the Fort McMurray wildfire – delivered a hard hit to the underwriting activity of Economical Insurance, contributing to a net income in the second quarter of 2016 of about half the prior-year quarter. Economical…
RSA Group reports $75 million net claims cost for Fort McMurray wildfire in 2016 interim results
August 6, 2016 by Canadian UnderwriterRSA Insurance Group plc has reported a net claims cost of 39 million pounds – or $75 million – for the recent Fort McMurray wildfire and 35 million pounds for the United Kingdom and European floods in June in its…
Allstate reports US$961 million in cat losses in second quarter of 2016
August 5, 2016 by Canadian UnderwriterNorthbrook, Ill.-based Allstate Corporation has reported catastrophe losses of US$961 million in the second quarter of 2016 compared to US$797 million in the same quarter of 2015 and US$1.79 billion in the first six months of the year compared to…
Hannover Re sees dip in net income, lower gross written premiums for 2016 H1 compared to 2015 H1
August 4, 2016 by Canadian UnderwriterHannover Re saw net income fall 8.6% to 486.1 million euros for the first half of 2016 from 531.9 million euros in the prior-year half, but remains confident the company is on track to achieve its full-year target of at…
Combined ratio up 18 points for PartnerRe
August 3, 2016 by Canadian UnderwriterPartnerRe Ltd. has reported an 18-point deterioration in its combined ratio for the three months ending June 30, with the wildfire in Alberta contributing 7.5 points, or $73 million, to its loss expenses for the second quarter of this year.…
Fort McMurray wildfire adds 9.2 points to Northbridge Insurance’s Q2 combined ratio
August 3, 2016 by Canadian UnderwriterThe recent wildfire in and near Fort McMurray, Alberta resulted in net incurred losses of $13.5 million for OdysseyRe and $20.9 million for Northbridge Insurance, the carriers’ parent company reported recently. All figures are in United States dollars. Fairfax Financial…