Canadian Underwriter

Topic
Earnings / Ratings


Man holding a card that reads 'auto insurance'
News ClaimsEarnings / RatingsInsuranceMarkets / Coverages

How Intact’s personal auto segment fared in 2023 Q1

May 15, 2023 by Jason Contant

Intact Financial Corporation grew its Canadian personal auto premium volume 5% in 2023 Q1 from one year ago, and continues to see positive growth in the segment, CEO Charles Brindamour said during a 2023 Q1 earnings call last week. “Top-line

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News BrokersEarnings / RatingsInsuranceMergers and Aqcuisitions

McDougall-McFarlan merger just the beginning for Definity

May 15, 2023 by David Gambrill

McDougall’s $232-million merger with Ontario brokerage McFarlan Rowlands last week is only the beginning for Definity, which is seeking more M&A growth to put it into the Top-5 P&C insurance companies in Canada. In its 2023 Q1 earnings call, Definity

Magnifying glass with company pictogram and business graphs,analyzing company performance image
News Earnings / RatingsInsurance

How IFRS 17 changed two key P&C financial metrics

April 27, 2023 by David Gambrill

IFRS 17 will change the presentation of company results in 2023 Q1, eliminating one standard property and casualty insurance financial metric completely, and subtly affecting how combined operating ratios are presented. The most obvious and straightforward change will be doing

Bank of Canada governor Tiff Macklem at a press conference
News Earnings / RatingsInsuranceMarkets / Coverages

Bank of Canada considered raising interest rates at its last meeting

April 26, 2023 Nojoud Al Mallees - THE CANADIAN PRESS

OTTAWA – The Bank of Canada considered raising interest rates earlier this month, as it feared being too slow to react to sticky inflation. In its summary of deliberations released Wednesday, the central bank says its governing council contemplated another

Analyzing financial results
News ClaimsCommercial LinesEarnings / RatingsInsuranceMarkets / Coverages

How the industry’s ROE is trending

April 26, 2023 by Jason Contant

The Canadian property and casualty insurance industry’s return on equity (ROE) last year dropped a few percentage points from the 17% to 18% level it was in 2021, but it’s still above the long-run average of 10.1%, a new industry

Canadian flag and economic downturn
News Earnings / RatingsInsuranceMarkets / CoveragesRisk

Is Canada still heading toward a recession?

April 21, 2023 by Jason Contant

Canada will likely not experience a recession in the traditional sense but rather a ‘shallow downturn,’ BMO Financial Group’s chief economist Douglas Porter said at an industry event Thursday. “I’m reluctant to call what we’re looking at in Canada a

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News CatastrophesEarnings / RatingsInsuranceMarkets / CoveragesReinsurance

Why consumers may feel the impact of higher reinsurance costs for insurers

April 19, 2023 by David Gambrill

Canada’s primary insurers will need to run at sustained combined operating ratios of 95% or lower in the future in order to withstand future NatCat losses (and the cost of reinsuring them), without having to pass costs on to consumers,

A leap of faith into 2023 for insurers seeking improved profits
News BrokersCatastrophesEarnings / RatingsInsuranceReinsurance

Will Canada’s 2023 underwriting results track U.S. improvements?

April 19, 2023 Philip Porado

Canadian insurers, like their U.S. counterparts, may see some better underwriting results this year. In the U.S., property and casualty (P&C) insurance industry underwriting results are likely to improve during 2023, in response to significant premium increases in underperforming automobile

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News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

2 reasons why Canadian P&C industry’s hard market may linger

April 18, 2023 by David Gambrill

Coming out of the pandemic, the global economic environment still contains two ingredients for ongoing hard market conditions in Canada’s P&C insurance sector — high inflation, and a lack of global reinsurance capacity. “If you look at the picture behind

Financial graph with uptrend line
News Earnings / RatingsInsuranceMarkets / Coverages

How Canada’s Top 5 carriers performed in 2022

April 13, 2023 by Jason Contant

Canada’s Top 5 insurers — Intact, Aviva, Desjardins, TD Insurance and The Co-operators — wrote a combined 42% of the insurance business in the country in 2022, but each showed different growth trends, MSA Research said in its latest quarterly

Percentage sign with up or down arrow
News Earnings / RatingsInsuranceRisk

Bank of Canada holds key interest rate at 4.5%, bumps up growth forecast for 2023

April 12, 2023 The Canadian Press

OTTAWA – The Bank of Canada is once again holding its key interest rate steady at 4.5 per cent but isn’t ruling out the possibility of more rate hikes down the line. The central bank said Wednesday that recent economic

Canadian economy heading into a mild recession, Deloitte says
News Earnings / RatingsInsuranceRisk

Canada heading into ‘mild recession,’ Deloitte report suggests

March 28, 2023 The Canadian Press

OTTAWA – New research says Canada is heading into a mild recession as elevated borrowing costs, a downturn in the U.S. and persistent inflation dial up the country’s economic uncertainty. Deloitte Canada’s latest economic outlook, released ahead of the federal