Canadian Underwriter

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Earnings / Ratings


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Echelon Insurance reports near halving of net income in 2017 Q3 compared to 2016 Q3

November 3, 2017 by Canadian Underwriter

The B.C. wildfires and losses related to commercial auto and motorcycle contributed to Echelon Insurance witnessing a 42% decrease in net income and an increase in combined operating ratio for 2017 Q3 compared to 2016 Q3. Net income amounted to

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Q3 reinsurance loss ratio up 56.5 points for Arch Capital

November 2, 2017 by Canadian Underwriter

After estimating it could lose nearly $320 million due to natural catastrophes including major North Atlantic hurricanes in the three months ending September 30, Arch Capital Group Ltd. has reported its combined ratio in reinsurance deteriorated 51.5 points, from 75.9%

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Reinsurance, commercial risk solutions revenue increases at Aon

November 1, 2017 by Canadian Underwriter

Aon plc reported revenues in commercial risk solutions of $917 million in the three months ending Sept. 30, up 3.7% from $884 million during the same period in 2016, while net income dropped 42%. All figures are in United States

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Statistics Canada says real GDP contracted by 0.1% in August

October 31, 2017 Craig Wong - THE CANADIAN PRESS

OTTAWA – The Canadian economy hit reverse in August, its first monthly pullback since October last year. “The amazing run of amazing Canadian economic data is officially over, with growth coming back to reality in a hurry,” Bank of Montreal

News Earnings / RatingsInsuranceMarkets / CoveragesReinsurance

Aspen reports net loss after tax of US$253.8 million for Q3

October 31, 2017 by Canadian Underwriter

Hamilton, Bermuda-based Aspen Insurance Holdings Limited has reported a net loss after tax of US$253.8 million for the third quarter of 2017 compared to net income of US$95.6 million in the same quarter last year. “The third quarter was characterized

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Underlying revenue up 3% at Marsh

October 31, 2017 by Canadian Underwriter

Marsh & McLennan Companies Inc. recently announced a 9% increase in revenue at its commercial brokerage subsidiary while total risk and insurance services revenue increased from $1.632 billion in the third quarter of 2016 to $1.752 billion in the three months

News AnnouncementsCatastrophesClaimsEarnings / RatingsInsuranceReinsurance

Cats a significant driver in Everest Re Group’s posting US$639.4 million net loss in 2017 Q3

October 31, 2017 by Canadian Underwriter

Losses from hurricanes Harvey, Irma, Maria (HIM) and the Mexico City earthquake contributed to Everest Re Group, Ltd. posting a US$639.4 million net loss for 2017 Q3 compared to net income of US$295.4 million for the prior-year quarter. For the

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Axis Capital records Q3 combined ratio of 156.9%, $617 million in cat losses

October 31, 2017 by Canadian Underwriter

Axis Capital Holdings Ltd. has had a 60-point deterioration in its third-quarter combined ratio, with US$576 million in pre-tax net losses, net of reinstatement premiums from three hurricanes alone, the Bermuda-based insurer announced. Pembroke, Bermuda-based Axis Capital, which has a

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Chubb reports P&C combined ratio of 110.8% for third quarter of 2017

October 30, 2017 by Canadian Underwriter

Chubb Limited has reported a P&C combined ratio of 110.8% for the third quarter of 2017, up 24.8 points from the same quarter last year and “driven by significant catastrophe losses.” “While it was a tough quarter for cats, it’s

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Auto insurance rates dropping in Ontario, but increasing in Alberta: LowestRates.ca

October 30, 2017 Jason Contant, Online Editor

A newly launched Auto Insurance Price Index from comparison site LowestRates.ca has found that auto insurance rates are dropping in Ontario, but rising in Alberta. Released on Monday, the index report tracks the average cost of consumer auto insurance on

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Kingsway reports net loss of US$1.6 million in Q3 2017

October 30, 2017 by Canadian Underwriter

Toronto-based Kingsway Financial Services Inc. announced on Friday a net loss attributable to common shareholders of US$1.6 million in the third quarter of 2017 compared to net income attributable to common shareholders of US$1.4 million in Q3 2016. “An estimated

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The Co-operators reports net loss of $7.4 million in third quarter

October 27, 2017 by Canadian Underwriter

Co-operators General Insurance Company has reported a consolidated net loss of $7.4 million for the third quarter of 2017 ending Sept. 30 compared to net income of $16.3 million for the same quarter of 2016. Guelph, Ont.-based The Co-operators released